Occidental Petroleum reported second quarter net income of $564million ($1.53 per share), the best quarter in the company’shistory. The results included an after-tax gain of $300 millionrelated to the previously announced sale of its 29.2% interest inCanadian Occidental Petroleum and an after-tax charge of $80million for the decision to exit several of Occidental’s chemicalintermediate businesses. The 2000 second quarter net incomecompares to $9 million ($.02 per share) of net income reported forthe second quarter of 1999. The company’s second quarter U.S.natural gas production was up 7% to 715 MMcf/d.

A 47% hike in natural gas prices led The Houston ExplorationCompany’s second quarter net income to a record of $16.3 million,or $0.56 per share, compared to $5.2 million or $0.21 per share in2Q99. Production for the second quarter of 2000 was 19.1 Bcfe (205MMcf/d of gas in the U.S., an 11% increase), an 11% increase fromthe 17.2 Bcfe produced in the second quarter of 1999.

New Jersey Resources reported quarterly and fiscal year-to-dateresults, which were the highest in its history. For the secondquarter, earnings per share were a record $0.18, compared with$0.17 for the same period last year, representing a 5.9% increaseand the fifteenth consecutive quarter of improved financialresults. The earnings increase was due to continued profitablecustomer growth at NJR’s principal subsidiary, New Jersey NaturalGas and improved wholesale natural gas marketing results.

Nicor Inc. reported second quarter 2000 diluted earnings percommon share of $0.66 on net income of $30.6 million, compared to$0.56 per share on net income of $26.5 million in 1999. Operatingincome is $55.4 million for the quarter compared with $44.5 milliona year ago. Results for both the quarter and six-month periodreflect improvements in all business segments including gasdistribution, shipping and Nicor’s other energy-related ventures.

Duke Energy released it second quarter results to reveal a 14%increase in earnings per share over last years figures for the sameperiod. Duke posted 88 cents per share for 2Q this year, while lastyear it only posted 77 cents. Duke cited its gas and electricbusinesses as reasons for the strong showing. Total revenuesincreased 133% over last year to end at $10.9 billion. Richard B.Priory, Duke Energy’s chairman said the second-quarter results keepthe company on course toward achieving earnings at the high end ofits target growth range for the year.

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