Paused

With 2Q2010 earnings results now in the rearview mirror, energy analysts covering the domestic exploration and production (E&P) sector paused to review what they saw in the earnings reports and what they heard in the conference calls. What they concluded isn’t necessarily a pretty picture for the second half of this year.

The market paused to figuratively catch its breath with a mixed price performance Thursday following three days of climbing quotes in which the gains tended to get substantially larger each day. Various points ranged from almost 30 cents lower to a little more than 30 cents higher.