A.G. Edwards: Majors' operating measures mixed, healthy

07/01/2002
Overall oil market fundamentals remained strong during 2001, as shown by the higher-than-average financial performances of a sampling of integrated oil and gas companies. Robust oil prices and above-average US natural gas prices and refining margins drove these gains.On the operations side, costs rose while key reserves and production indicators remained robust. A.G. Edwards & Sons Inc. released these findings in an integrated oil company upstream matrix performance analysis.The brokerage firm took note of the tight rein the integrated firms kept on finances last year."Nonetheless, financial measures were mixed with higher per-unit operating costs, exploration expenses, and (depreciation,...
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