StreetInsider.com
ARGUS analyst says, “The company’s production guidance for 2009 was disappointing, and we are concerned about the impact of its higher-cost resource base on profitability and cash flow. During the company’s 4Q08 conference call, management lowered 2009 production guidance to flat to slightly down; we had been expecting 2%-3% growth. In addition, its after-tax profit per produced barrel (excluding oil sands) declined to roughly $12, as lower oil prices weighed on results. While the company has a solid balance sheet, interest-bearing debt increased by $6.4 billion in 4Q08, and we think it will likely add more debt in the relatively more challenging hydrocarbon-price environment we anticipate in 2009 and 2010.”
“We are maintaining our long-term Buy rating as we believe management’s strategy to upgrade the company’s resource base through increased capital investments, divestment of noncore assets, and a heightened emphasis on gas, unconventional oil and other large-scale, long-lived projects are pointing the company in the right direction.”
Royal Dutch Shell plc (Shell) is a holding company, which owns, directly or indirectly, investments in the numerous companies constituting the group.
This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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