Contents
Producers Increase 2010 NG Hedges 2
Investment Perspective 3
Morgan Stanley Estimates vs. Consensus 4
Consensus EPS Revisions & Short Interest 6
Comparative Performance Tables 7
Investment Thesis 10
Commodity Macro 11
Commitments of Traders Report 12
Natural Gas Markets 13
Differentials 14
Supply & Demand 15
Fundamental Drivers 16
Switching Economics 17
US Power Market Metrics 18
Crude Oil Markets 19
Crude Fundamentals 20
US Gasoline Fundamentals 21
US Distillate Fundamentals 22
Chemical Markets 23
Hedges 24
Exploration Calendar 27
GDP Forecast, Leading Indicators & Actuals 28
Publications & Content Index 29
Valuation Methodologies & Risks 30
Disclosure 31