Diluted

A county court judge in Nacogdoches, TX, on Thursday dissolved a landowner’s temporary restraining order (TRO) against TransCanada Corp. that attempted to stop construction of the southern portion of the Keystone XL Pipeline from Canada.

Pressure pumping services in North American unconventional basins appear to be on the cusp of oversupply, Schlumberger Ltd. executives said Friday.

Petrohawk Energy Corp. on Tuesday posted a net loss of $79.6 million (minus 26 cents/diluted share) for 4Q2010, compared with net income of $36.5 million (12 cents) for 4Q2010. The company attributed the 4Q2010 loss to future derivative contracts, discontinued operations resulting from the write-down of Fayetteville Shale midstream assets and various noncash charges and deferred income tax adjustments.

Due to increased demand in all of its business segments, Enterprise Products Partners LP reported a 132% increase in 1Q2008 net income to $260 million, or 51 cents per unit on a fully diluted basis, over net income of $112 million, or 20 cents per unit, during 1Q2007. Responding to the natural gas industry’s significant concern surrounding the April 8 suspension of production at the Independence Hub in the Gulf of Mexico, the company noted that repairs on the associated natural gas pipeline system should be completed during the “first half of May,” allowing the hub to restart activity.

Due to increased demand in all of its business segments, Enterprise Products Partners LP reported a 132% increase in 1Q2008 net income to $260 million, or 51 cents per unit on a fully diluted basis, over net income of $112 million, or 20 cents per unit, during 1Q2007. Responding to the natural gas industry’s significant concern surrounding the April 8 suspension of production at the Independence Hub in the Gulf of Mexico, the company noted that repairs on the associated natural gas pipeline system should be completed during the “first half of May,” allowing the hub to restart activity.

Higher prices and overall record production boosted Apache Corp. earnings by 30 cents a share in the first quarter to $1.97/diluted share or $660 million, up from $559 million in 1Q 2005.

Apache Corp., while suffering from hurricane losses in the Gulf of Mexico, nevertheless reported a 56% rise in 2005 earnings to $2.6 billion or $7.84 per diluted common share, compared to $5.03 per share, or $1.7 billion, in 2004. The company credited the increased earnings to record-high oil and natural gas prices.

Tulsa, OK-based Oneok Inc. said Friday that its earnings guidance for 2004 remains at $2.12-2.18 per diluted share of common stock. The company also provided quarterly earnings-per-share guidance and updated segment operating income estimates due to changes in the market.

Burlington Resources reported a 32% increase in first quarter earnings to $354 million, or $1.78 per diluted share, and a 14% rise in total production to a new quarterly record of 2,849 MMcfe/d. Commodity price realizations were flat.