(CHK:NYSE), for example, is one of the purest
North American natural gas plays. It is focused
on land-based natural gas exploration, primarily
in the mid-continent. Another would be EOG
Resources (EOG:NYSE). While not as "gassy" as
Chesapeake, EOG is largely focused on U.S. and
Canada natural gas exploration.
There are a number of other companies that
explore for gas but also have oil components:
Anadarko (APC:NYSE), Apache (APA:NYSE), Devon
(DVN:NYSE) and EnCana (ECA:NYSE) come to mind.
There are some smaller exploration companies that
tend to focus on natural gas, names like Carrizo
Oil & Gas (CRZO:Nasdaq), NGAS Resources
(NGAS:Nasdaq) and Quicksilver (KWK:NYSE),
including unconventional gas reserves like coal
bed methane and "tight gas."
Generally, energy service companies tend to
be "equal opportunity" players, looking for both
natural gas and crude oil. However, land drillers
like Nabors (NBR:Amex) continue to benefit from
increased natural gas drilling, as do other
service companies like BJ Services (BJS:NYSE).