Just days after a town in western New York adopted a one-year moratorium on oil and natural gas activities, the town’s only operator made a rare move and decided to shut down its wells and pipelines there, halting royalty payments and free natural gas to landowners.
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CEO: El Paso ‘Undervalued,’ Structural Changes Possible
El Paso Corp.’s annual financial analyst meeting last week did nothing to quell talk that the company may restructure and split its bread-and-butter natural gas pipeline business from the exploration and production (E&P) unit to increase shareholder value. In fact, the CEO indicated it is a distinct possibility.
CEO: El Paso ‘Undervalued,’ Structural Changes Possible
El Paso Corp.’s annual financial analyst meeting Wednesday did nothing to quell talk that the company may restructure its business to split its bread-and-butter natural gas pipeline business from the exploration and production (E&P) unit to increase shareholder value. In fact, the CEO indicated it is a distinct possibility.
El Paso Beats the Street in 3Q; Pipe Profit up 12%
Driven by strong results from its bread-and-butter natural gas pipelines and a 99% success rate in exploratory drilling, El Paso Corp. last week delivered 18 cents/share quarterly profit, two cents ahead of Wall Street expectations, and well ahead of the 50 cents/share loss a year earlier. Net income climbed to $126 million, versus a loss of $321 million in 3Q2005, and operating revenue rose 41% to $1.06 billion from $752 million.
El Paso Beats the Street in 3Q; Pipe Profit up 12%
Driven by strong results from its bread-and-butter natural gas pipelines and a 99% success rate in exploratory drilling, El Paso Corp. delivered 18 cents/share quarterly profit on Monday, two cents ahead of Wall Street expectations, and well ahead of the 50 cents/share loss a year earlier. Net income climbed to $126 million, versus a loss of $321 million in 3Q2005, and operating revenue rose 41% to $1.06 billion from $752 million.
EOG Chief Expects Multi-Year Supply Crunch
Producers – and the lawyers, brokers and analysts they break bread with – last week received a second helping of what was for lunch eight months ago at Houston’s Petroleum Club: a bullish outlook for gas prices.
EOG Chief: Weak Supply Pushing Prices Up
Producers – and the lawyers, brokers and analysts they breakbread with – received a second helping of what was for lunch eightmonths ago at Houston’s Petroleum Club: a bullish outlook for gasprices.