Natural Resources >> Analyst Interviews >> May 3, 2004

GAS INDUSTRY OUTLOOK: SAMUEL BROTHWELL – MERRILL LYNCH GLOBAL SECURITIES

SAMUEL D. BROTHWELL joined Merrill Lynch Securities Research in January 1997. He is the director of Natural Gas Equity Research, providing lead coverage of natural gas pipelines and utilities. Mr. Brothwell is the author of ML Power & Gas group's On Power & Gas weekly research product. He launched MLs Energy Technology research group, covering distributed/network power, alternative energy and energy e-commerce. In 2001, Mr. Brothwell was named in Institutional Investor's Home Run Hitter's list. In 1999 he was also named in Institutional Investor's global research survey, utility sector second team. He is a member of the power and gas research team headed by Steven Fleishman, Institutional Investor's top-ranked sector analyst. From 1995 to 1997 he was responsible for research and debt ratings on major US and Latin American electric utilities at Moody's Investors Service. Prior to that, from 1985-1996, Mr. Brothwell provided financial and strategic planning, investor relations, regulatory affairs, and accounting for the Public Service Company of New Mexico, an investor-owned electric and gas utility serving Albuquerque and Santa Fe. He is a Certified Public Accountant and a 1983 Graduate of the Anderson Schools of Management at the University of New Mexico. Profile
TWST: Let's start with a quick overview of your coverage.

Mr. Brothwell: We cover everything downstream from the wellhead '

pipelines, midstream, and the gas utilities.

TWST: What's gone