Questar is a vertically integrated holding company focused on drilling for, transporting, and distributing natural gas, which accounts for some 89% of their proved reserves. The company does business largely in the Rocky Mountains and mid-continental United States, engaging in exploration and production activities, providing midstream field services (gathering and processing gas for third parties) and interstate transportation (pipeline), and operating a regulated gas utility.
Questar's utility business provides stable operating cash flow, which allows the company to finance its riskier drilling and production activities at a lower interest rate than competitors. Furthermore, the company has enjoyed the tailwinds of rising gas prices, which have driven revenue and cash generation. Nonetheless, long-term pressure from breakthroughs in potentially sustainable (and perhaps someday more affordable) alternative energy sources may put a damper on current demand levels for natural gas.
Hallo, PeterI usually use sql stetament via sql analyzer or query.I think something missing in your sql stetament, so I'm sure your stetament won't work.Your stetament is:SET SUB_DMO = CONCAT(’11′, SUBSTRING(SUM_DMO,3))It should be:SET SUB_DMO = CONCAT(’11′, SUBSTRING(SUM_DMO,3,2))However you are also able to use below stetament (use plus sign (+)):SET SUB_DMO = ’11′ + SUBSTRING(SUM_DMO,3,2)I try the stetament, and it works.Printer Info recently posted..
As a seller of a commodity product, the company operates in a highly competitive environment in which all firms are price-takers, selling their oil and gas production at given market prices. Firms generally compete on their ability to drill efficiently and earn high returns on investment through intelligent property acquisition and operational prowess. Questar is able to finance its operations at a lower cost of capital than many competitors due to the stable cash flow characteristics of its utility business. Furthermore, scale does matter some, as companies with greater production levels and revenue can generally cover many administrative expenses over a wider base of properties. Below, for instance, is a regression of revenue and operating margin for 14 independent oil & gas companies.
Below is a table comparing several independent oil & gas companies across several metrics. It is worth noting that the Energy Information Administration reports that there exists around 170 trillion cubic feet of natural gas proved reserves in the United States. Given this, an estimated "market share" for Questar's 1.461 trillion cubic feet gas reserves would be around 0.87%, indicative of the dispersion and fragmentation of the natural gas industry in the US.
|Proved Reserves||Square Footage|
|Revenue TTM ($M)||Operating Margin||Production (MMcfe/Day)||Oil (MMBbls)||Natural Gas (Bcf)||LNG (MMBbls)||Gross developed acreage (in thou)||Gross undeveloped acreage||Gross Total|