Atmos Energy Corp. said Tuesday that earnings in its fiscal first quarter more than doubled from a year ago. Net income was $59.6 million (79 cents/share), compared with $29.5 million (57 cents) for fiscal 1Q2004.
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Shell’s Strong Earnings Overshadowed by Another Reserve Reduction
Royal Dutch Shell Group more than doubled its 4Q earnings on soaring oil and natural gas prices, but the positive news was completely overshadowed with the company’s announcement Thursday that it will reduce its proved reserves for the fifth time in just about one year’s time.
Piedmont Posts Larger 4Q Loss, 28% Increase in Fiscal Year Net Income
Piedmont Natural Gas more than doubled its net loss for its fiscal fourth quarter, but reported a 28% increase in net income for the year ending Oct. 31 to $95.2 million, or $1.27 per diluted share, which includes $4.6 million, or $0.06 per diluted share, for one-time items. The weather for the year was 9% warmer than 2003, and 5% warmer than normal, but the company’s purchase last year of North Carolina Natural Gas (NCNG) contributed to improved margins and throughput.
Piedmont Posts Larger 4Q Loss, 28% Increase in Fiscal Year Net Income
Piedmont Natural Gas more than doubled its net loss for its fiscal fourth quarter, but reported a 28% increase in net income for the year ending Oct. 31 to $95.2 million, or $1.27 per diluted share, which includes $4.6 million, or $0.06 per diluted share, for one-time items. The weather for the year was 9% warmer than 2003, and 5% warmer than normal, but the company’s purchase last year of North Carolina Natural Gas (NCNG) contributed to improved margins and throughput.
BP Warns High Service Costs May Continue Through Next Year
London-based BP plc Tuesday reported that net income nearly doubled in the third quarter on the back of soaring commodity prices. However, the major warned that its capital spending budget is taking a hit from higher oil field service costs and a weaker dollar, which may put a damper on spending in the next year.
BP Warns High Service Costs May Continue Through Next Year
London-based BP plc Tuesday reported that net income nearly doubled in the third quarter on the back of soaring commodity prices. However, the major warned that its capital spending budget is taking a hit from higher oil field service costs and a weaker dollar, which may put a damper on spending in the next year.
BP Warns High Service Costs May Continue Through Next Year
London-based BP plc Tuesday reported that net income nearly doubled in the third quarter on the back of soaring commodity prices. However, the major warned that its capital spending budget is taking a hit from higher oil field service costs and a weaker dollar, which may put a damper on spending in the next year.
Magnum Hunter Doubles New Mexico Acreage with Latest Acquisition
Magnum Hunter Resources Inc. on Monday doubled the amount of oil and natural gas properties it holds in its successful onshore core region of southeastern New Mexico with a $243 million purchase from EnCana Corp., which obtained the properties through its acquisition with Tom Brown Inc. The properties represent a 72% increase to Magnum Hunter’s existing 32 MMcfe/d of production from existing properties in New Mexico and approximately 11% of its current total net daily production.
Magnum Hunter Doubles New Mexico Acreage with Latest Acquisition
Magnum Hunter Resources Inc. last week doubled the amount of oil and natural gas properties it holds in its successful onshore core region of southeastern New Mexico with a $243 million purchase from EnCana Corp., which obtained the properties through its acquisition with Tom Brown Inc. The properties represent a 72% increase to Magnum Hunter’s existing 32 MMcfe/d of production from existing properties in New Mexico and approximately 11% of its current total net daily production.
Judge to Consider New Auction for Enron’s Pipeline Assets
Southern Union Co. has revealed itself as the “stalking horse” for Enron Corp.’s natural gas pipeline assets, announcing it would pay $2.3 billion, topping an offer by Oscar Wyatt Jr.’s company by $55 million. Creditors are expected to ask the bankruptcy court to set a new auction for August, with the Southern Union bid as the benchmark.