| An SI Board Since January 2003 |
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The main purpose of this board is to provide an easy access to an index I have created to measure the performance of the US large and mid-cap E&P companies, which I am calling the "US E&P Index". See portfolio attached, which was created by taking all of the E&P companies with market caps under $5 Billion that were included in the Dow Jones US Energy Index, weighted by market cap as of 12/31/02, starting out with a portfolio value of $1,000,000 on that date. I did not want to take any of the companies larger than $5 B (Apache, etc.) since they would end up taking too high a percentage of the index. Also, since I typically invest in companies smaller than even the smallest one in this portfolio, I'm not really interested in how the behemoth E&P companies are doing.
For a quote of the DJ Energy index, see finance.yahoo.com^DJUSEN
For future comparison purposes, the XNG index was at 146.12 at 12/31/02, and the OSX index was at 86.70.
The motivation for all this work to set up this index was borne by my frustration at looking at the XNG index, for example, that got severely distorted by the crashes of EP, DYN and WMB in '02, none of whom are E&P companies. The DJ Energy index is OK but that also has coal companies and oil service companies.
So all you E&P fans may wanna bookmark this subject so you can track this index, and also feel free to post any thoughts and comments. I plan to use this as a "diary" of sorts so that I can go back later and see what I was thinking at certain points in time, to hopefully learn from past mistakes.
Let's talk O&G E&P companies!
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