Friedman

Friedman, Billings, Ramsey & Co. Inc. (FBR) has trimmed its forecast for U.S. natural gas prices for the next two years to reflect the “impending flood of shale gas.”

Friedman, Billings, Ramsey & Co. (FBR) last week said it remains “bullish on 2007 in aggregate” because of unforeseen events such as weather, but analysts still cut their 2007 natural gas price forecast to $7.60/Mcf from $8 and reduced their 2Q2007 gas benchmark assumption to $7.20/Mcf from $8. A.G. Edwards, & Sons Inc., meanwhile, said temporary shifts in gas prices because of weather and other events are to be expected, but prices likely will range around $7.75/Mcf in 2007 and $7.50 in 2008.

Although it remains “bullish on 2007 in aggregate,” Friedman, Billings, Ramsey & Co. Inc. (FBR) on Monday cut its 2007 natural gas price forecast to $7.60/Mcf from $8 and reduced its 2Q2007 gas benchmark assumption to $7.20/Mcf from $8.

Slightly lower-than-expected oil and natural gas prices and “largely negative” interim updates led energy analysts with Friedman, Billings, Ramsey & Co. Inc. (FBR) to reduce their 4Q2006 earnings forecasts on the integrated producers by 6%. The quarterly forecasts are now 13% below consensus expectations, FBR noted.

In talks with executives from nine exploration and production (E&P) companies, analysts at Friedman, Billings, Ramsey & Co. Inc. found that the drop in commodity prices is “being taken in stride but caution abounds.”

In talks with the managements of nine companies in their exploration and production (E&P) universe, analysts at Friedman, Billings, Ramsey & Co. Inc. found that the drop in commodity prices is “being taken in stride but caution abounds.”

Does today’s gas market remind you at all of 2001? If you’re an energy analyst at Friedman, Billings, Ramsey & Co. (FBR) it does. In a research note last week, a trio of FBR analysts enumerate exactly how the current market is like 2001, and how it’s not.

Does today’s gas market remind you at all of 2001? If you’re an energy analyst at Friedman, Billings, Ramsey & Co. (FBR) it does. In a new research note, a trio of FBR analysts enumerate exactly how the current market is like 2001, and how it’s not.

Consultants at Friedman Billings Ramsey (FBR) have raised their natural gas price forecasts for 2003, 2004 and 2005 based on the conclusion that total natural gas supply will fall about 3.6 Bcf/d short of demand by 2005. FBR concludes that amount of demand will have to be priced out of the market, and the industrial sector will suffer the most.