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Thu, 03 Feb 2005

Third, I recommend Pogo Producing Co. (PPP), which was also on last year's Stumblers list. This natural-gas producer, based in Houston, is down 10 percent this year. A week ago Pogo said that it might sell its oil and gas holdings in Thailand and Hungary to raise cash. It also will delay drilling 210 wells worldwide because of high drilling costs. Two-thirds of Pogo's output in the Gulf of Mexico was shut down last quarter by Hurricane Ivan, and total production of oil and gas fell 33 percent for the quarter to 41,921 barrels a day, the company reported
Posted 08:57

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