|Forest Oil||Quicksilver Resources||Newfield Exploration||Pioneer Natural|
The major competition has also been struggling: Quicksilver posted third quarter results that saw top and bottom line results falling short of consensus estimates, with weak natural gas prices and low production levels being the major drags. Pioneer also posted below-expected EPS last quarter, with results falling on a year over year basis. Newfield, on the other hand, has been hitting on a number of cylinders, including better utilization from wells drilled in the Bakken and Eagle Ford. The oil and gas company expects to boost output by about 50% in the coming years. Getting back to Forest Oil, the company has robust exposure to natural gas, but now plans to diversify its production portfolio by expanding its liquid production. This includes focusing on Eagle Ford and the company’s core acreage position. The shift will help not only drive the company’s top line but also boost margins as its focuses on higher-margin oil development.