According to Ernst & Young, if you’re an E&P company duking it out in today’s turbulent economic environment, you fall into one of three categories...

It’s too early to get a handle on the economics of the Eagle Ford shale play, led by Petrohawk Energy Corp. in South Texas, “but that is an exciting shale to watch,” says Jeb Armstrong, senior oil and gas E&P analyst for Calyon Securities (USA) Inc. in New York.

Congress is set to take a recess from November 21 to December 8–a two-week escape from grim reality. Meanwhile, the stock market goes down another 200-400 points each day, more layoffs are announced, and businesses seem to be crumbling everywhere.