Beats

Even counting higher estimated emissions of methane (CH4) from shale gas production activities, natural gas-fired power generation still beats coal-fired power by a wide margin when it comes to overall greenhouse gas (GHG) emissions, according to a new study published by the gas-friendly American Clean Skies Foundation (ACSF).

Even counting higher estimated emissions of methane (CH4) from shale gas production activities, natural gas-fired power generation still beats coal-fired power by a wide margin when it comes to overall greenhouse gas (GHG) emissions, according to a new study published by the gas-friendly American Clean Skies Foundation (ACSF).

Second quarter financial results from several eastern gas and combination utilities were mixed with Vectren reporting a 20% drop in net income, NiSource reporting lower than expected results yet improvements compared with 2Q2003 and AGL Resources posting higher than expected earnings.

Second quarter financial results from several eastern gas and combination utilities were mixed with Vectren reporting a 20% drop in net income, NiSource reporting lower than expected results yet improvements compared with 2Q2003 and AGL Resources posting higher than expected earnings.

Canada’s leading natural gas pipeline operator suffered lower net earnings from its natural gas transmission business in the first quarter, but lower net corporate expenses still propelled TransCanada Corp. to net income of C$214 million (C44 cents/share, up from C$208 million (C43 cents/share) for the same period of 2003. TransCanada blamed lower regulated returns on its Alberta and Canadian Mainline pipe systems, which cut gas transport earnings by C$9 million to stand at C$149 million.

Coming in above its estimate for oil and gas production last year, Pioneer Natural Resources also reported Monday that it scored a new record for net income, with $410.6 million ($3.46/share), compared with $26.7 million (23 cents) in 2002.

Cinergy Corp. shares rose 2% to $33.05 last Thursday after the company reported that it beat the average of Wall Street estimates by about 6 cents/share with reported 2002 earnings of $2.68/share before one-time charges of 55 cents/share. The special charges were for early retirement and other employee severance programs, investments, and a cumulative change in accounting principle.

Kinder Morgan Inc. (KMI) last week touted its business model and record 2002 earnings, which beat consensus Wall Street estimates. However, the company reported a 15% drop (10 cents/share) in fourth quarter net income due to special charges primarily related to a reduction in the carrying value of its power generation assets. Full-year 2002 KMI net income was up 35% to $302.7 million or $2.45/share.

Kinder Morgan Inc. (KMI) Wednesday touted its business model and record 2002 earnings, which beat consensus Wall Street estimates. However, the company reported a 15% drop (10 cents/share) in fourth quarter net income due to special charges primarily related to a reduction in the carrying value of its power generation assets. Full-year 2002 KMI net income was up 35% to $302.7 million or $2.45/share.