Baird Launches Exploration And Production Research Coverage

MILWAUKEE, February 23, 2011
Baird, an international employee-owned financial services firm, has launched research coverage of exploration and production (E&P) companies including those with operations in the Bakken oil and Marcellus gas basins.

Senior Research Analyst Hsulin Peng, who joined Baird in late September 2010 and is based in the firm’s Stamford, Conn. office, initiated coverage on ten companies. Initiating with outperform ratings are Abraxas Petroleum Corporation (AXAS), GeoResources, Inc. (GEOI) , Magnum Hunter Resources Corporation (MHR), QEP Resources, Inc. (QEP), and Whiting Petroleum Corporation (WLL),. Initiating with neutral ratings are EOG Resources, Inc. (EOG), EQT Corporation (EQT), Kodiak Oil & Gas Corporation (KOG), Range Resources Corporation (RRC), and Southwestern Energy Company (SWN).

“We continue to expand our Energy expertise and Hsulin’s initiation on E&P companies builds on our existing utility, master limited partnership (MLP) and closed-end fund coverage,” said Robert J. Venable, Director of Research. “We will significantly expand our energy coverage in 2011 and have plans for additional research analysts in this important sector.”

Peng joined Baird alongside Senior Research Analyst Ethan Bellamy, who initiated MLP and closed-end fund coverage last November. Peng and Bellamy’s coverage areas complement that of Baird’s veteran utilities analyst David Parker. During 2010, Baird also added eight investment banking professionals, as it continues to expand its energy expertise across its Equity Capital Markets platform.

Hsulin Peng Biography
Peng joined Baird from Luminus Management in New York where she was a Research Analyst for a Long/Short Power/Utility/Energy Hedge Fund. Peng also worked as an Associate at Citigroup Investment Research. Prior to Citi, she worked as a corporate finance director with Inergy, L.P, a publicly-traded MLP, and also as an Investment Banking Analyst at A.G. Edwards & Sons.

About Baird’s Equity Research Team
Baird’s Equity Research Department consists of approximately 110 research professionals covering more than 635 companies. Baird analysts have been recognized repeatedly in The Wall Street Journal’s annual “Best on the Street” survey and in StarMine’s annual top analysts rankings.

About Baird
Baird is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. Established in 1919, Baird has more than 2,600 associates serving the needs of individual, corporate, institutional and municipal clients. Baird oversees and manages client assets of nearly $82 billion. Committed to being a great place to work, Baird ranked number 14 on FORTUNE’s “100 Best Companies to Work For” in 2011 – its eighth consecutive year on the list. Baird’s principal operating subsidiaries are Robert W. Baird & Co. in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird’s private equity operations. For more information, please visit Baird’s Web site at