2Q03

Riding the wave of higher commodity prices, Houston producers Burlington Resources Inc., Apache Corp. and Marathon Oil Corp. all reported jumps in second quarter net income when compared to the same quarter last year.

Dynegy Inc.’s new-and-improved business plan is not enough cashflow wise to fully offset the massive amount of debt leveraging that carried over from its former business strategy, according to an analyst with Standard & Poor’s Ratings Services (S&P). The ratings agency last Tuesday cut the company and its subsidiaries another notch, to “B” from “B+”.

Dynegy Inc.’s new-and-improved business plan is not enough cash-flow wise to fully offset the massive amount of debt leveraging that carried over from its former business strategy, according to an analyst with Standard & Poor’s Ratings Services (S&P). The ratings agency on Tuesday cut the company and its subsidiaries another notch, to “B” from “B+”.