NEW YORK, Jan 4 (Reuters) - Oil and gas company Questar Corp is a 'compelling play' for investors who expect a rebound in natural gas prices because of the company's rising reserve base and low-cost production, Barron's reports.
In its Jan. 5 issue, Barron's writes that the stock has become 'unusually cheap' because of the drop in commodity prices. Shares closed Friday at $34.18.
'The stock has bottomed,' longtime holder Lowell Miller of Miller/Howard Investments in Woodstock, N.Y., says in the article. Shares could trade between the high-20s and high-30s in 2009, but reach $50 to $60 subsequently, he adds.
Barron's reports that Questar holds a promising portfolio of gas properties.
'Its prized asset is in the Pinedale Anticline in Western Wyoming, the second-biggest gas find in the U.S., with 1,000 Bcfe of proved reserves. Other properties are in the Uinta Basin in Utah, Cotton Valley in northwestern Louisiana and the Bakken Shale in North Dakota. Possible reserves total 5.1 Tcfe,' the article says.
(Reporting by Paul Thomasch; Editing by Steve Orlofsky) Keywords: QUESTAR/ (paul.thomasch@thomsonreuters.com; 1 646 223-6092; Reuters Messaging: paul.thomasch.reuters.com@reuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
In its Jan. 5 issue, Barron's writes that the stock has become 'unusually cheap' because of the drop in commodity prices. Shares closed Friday at $34.18.
'The stock has bottomed,' longtime holder Lowell Miller of Miller/Howard Investments in Woodstock, N.Y., says in the article. Shares could trade between the high-20s and high-30s in 2009, but reach $50 to $60 subsequently, he adds.
Barron's reports that Questar holds a promising portfolio of gas properties.
'Its prized asset is in the Pinedale Anticline in Western Wyoming, the second-biggest gas find in the U.S., with 1,000 Bcfe of proved reserves. Other properties are in the Uinta Basin in Utah, Cotton Valley in northwestern Louisiana and the Bakken Shale in North Dakota. Possible reserves total 5.1 Tcfe,' the article says.
(Reporting by Paul Thomasch; Editing by Steve Orlofsky) Keywords: QUESTAR/ (paul.thomasch@thomsonreuters.com; 1 646 223-6092; Reuters Messaging: paul.thomasch.reuters.com@reuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.