Philip Stuart

JPMorgan Securities LLC (JPMS) is a securities brokerage firm headquartered in New York City. The firm was founded in 1985 and is a subsidiary of JPMorgan Broker-Dealer Holdings, Inc., ultimately held by JPMorgan Chase & Co., Inc. (NYSE: JPM). JPMS provides research on fixed income, credit, derivatives, emerging markets, foreign exchange, structured finance, technical analysis and bond indices. Their equity analysts cover equities throughout North America, EMEA, Asia/Pacific and the emerging markets. The firm's fixed income team formulates trading and portfolio recommendations for investors in global bonds and other fixed-income markets based on valuations, analytics and market dynamics.

Scotia Capital (USA), Inc. (SCUSA) is a SEC-registered broker/dealer headquartered in New York City. The firm is a subsidiary of Scotia Holdings (USA) LLC, which is owned by The Bank of Nova Scotia (NYSE: BNS; TSE: BNS) in Canada. They provide debt research coverage on US investment grade and high yield debt markets. SCUSA focuses on 6 industries which includes automotive, financial services, healthcare, media and communications, REGAL - real estate/gaming and leisure and technology. They also focus on 4 main global sectors such as power, mining, infrastructure and oil & gas/energy.

Founded in 1946, Howard Weil, Inc. is a broker/dealer located in New Orleans, Louisiana with an additional office in Houston, Texas. On November 1, 2012, Howard Weil became part of Scotia Capital (USA), Inc., a US registered broker-dealer and a member of FINRA and the NYSE. Scotia Capital (USA), Inc. is owned by the Bank of Nova Scotia (NYSE: BNA), aka Scotiabank. The firm is an energy investment boutique that provides equity research, institutional sales and trading, and investment banking services. They cover companies in the following energy sectors: major integrated oil, exploration and production, oilfield service, gas and power, independent refiners and coal producers. Howard Weil's sales force deals only with energy securities and covers institutional accounts in the US and internationally. Their trading expertise spans all sectors of the energy industry and includes small-, mid- and large-cap companies.