Doubled

Marathon Oil Corp.’s 2003 profit more than doubled on gains from asset sales, but its operating earnings dropped because of declining oil and gas production and weak refining earnings. For the year, Marathon reported net income of $1.321 billion ($4.26/share), compared with 2002 net income of $516 million ($1.66/share). Adjusted earnings were $1 billion ($3.33/share), compared with the prior year’s $563 million ($1.81/share).

The lineup that doubled the number of proposals for new terminals to import liquefied natural gas into the United States over the past 18 months have been on the right track, according to the dean of Canadian supply forecasters.

The lineup that doubled the number of proposals for new terminals to import liquefied natural gas into the United States over the past 18 months have been on the right track, according to the dean of Canadian supply forecasters.

ExxonMobil Corp. has doubled up on its development plans for liquefied natural gas (LNG) receiving terminals in Texas, announcing Thursday that an affiliate is developing a $600 million LNG terminal near Corpus Christi. The proposed facility, which mirrors another proposal on the upper Texas coast, would process 1 Bcf/d of LNG.

Exxon Mobil Corp. has doubled its development plans for liquefied natural gas (LNG) receiving terminals in Texas, announcing Thursday that an affiliate is developing a $600 million LNG terminal near Corpus Christi. The proposed facility, which mirrors another one underway up the Texas coast, would process 1 Bcf/d of LNG.

Houston-based Cabot Oil & Gas Corp. doubled its Gulf Coast proved reserve base Thursday, agreeing to a $230 million cash and stock merger with Cody Co., the parent of Cody Energy LLC. All of Denver-based Cody’s reserves are in Texas and Louisiana and will add 116 Bcfe to Cabot’s proved reserves, of which 58% will be natural gas, and 50 MMcfe/d of equivalent production, with 84% in natural gas.

Houston-based Cabot Oil & Gas Corp. doubled its Gulf Coast proved reserve base Thursday, agreeing to a $230 million cash and stock merger with Cody Co., the parent of Cody Energy LLC. All of Denver-based Cody’s reserves are in Texas and Louisiana and will add 116 Bcfe to Cabot’s proved reserves, of which 58% will be natural gas, and 50 MMcfe/d of equivalent production, with 84% in natural gas.

With Energy Marketing & Trading (EMT) leading the way, Williams more than doubled the return on its energy businesses in the first quarter this year over last, recording results from continuing operations of $378.3 million or 78 cents per share, compared with a restated $138.9 million or 31 cents a share for 1Q 2000.

With Energy Marketing & Trading (EMT) leading the way, Williams more than doubled the return on its energy businesses in the first quarter this year over last, recording results from continuing operations of $378.3 million or 78 cents per share, compared with a restated $138.9 million or 31 cents a share for 1Q 2000.