856716--3/14/2006--WESTERN_GAS_RESOURCES_INC

related topics
{gas, price, oil}
{cost, regulation, environmental}
{loan, real, estate}
{cost, contract, operation}
{operation, natural, condition}
{acquisition, growth, future}
{financial, litigation, operation}
{cost, operation, labor}
{stock, price, share}
{condition, economic, financial}
{tax, income, asset}
Volatile product prices could have a material adverse effect on our financial condition and results of operations and cash flows. Exploration and development is subject to numerous operational risks. Exploration and development is subject to governmental permitting. Our estimates of gas reserves are subject to numerous uncertainties. The uncertainties of gas supply may affect our ability to replace reserves connected to our facilities. Our operations are subject to environmental laws and regulations that could affect our financial position or results of operations. Our business is subject to numerous other operational risks. Financial difficulties experienced by the companies with which we maintain relationships could have a material adverse effect on our financial condition and results of operations and cash flows. Access to FERC regulated pipelines may impact our delivery and sale of gas. Governmental regulation may have a significant impact on our operations. Opportunities for expansion and availability of related financing are uncertain. The natural gas exploration, production, distribution and marketing businesses are highly competitive, and there can be no assurance that we can compete successfully with other companies in the industry. Litigation following the investigation into gas index price reporting could have a material adverse effect on us. Gracey et al. v. Western Gas Resources, Inc. et al., United States District Court, Southern District of New York, Case No. 03-CV-6186 (vm) (S.D.N.Y.). J.P. Morgan Trust Company, National Association, in its Capacity as Trustee of the FI Liquidating Trust v. Oneok Inc. et al., United States District Court, for the District of Kansas, Case No. 05-2389C Learjet, Inc., Cross Oil Refining Marketing, Inc. Topeka Unified School District 501, on Behalf of Themselves and All Other Similarly Situated Direct Purchasers of Natural Gas in the State of Kansas v. Oneok, Inc. et al, In the District Court of Wyandotte County, Kansas, Civil Action No. 05-CV-1500. Our ability to pay fixed charges and common stock dividends depends on many factors. Our ability to make capital expenditures depends on many factors.

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