Earnings

Brought down by the company’s increased LNG terminal development expenses, Cheniere Energy Inc. posted a net loss of $2,387,021, or $0.16 per share, for the third quarter of 2003 compared with a net loss of $1,474,972, or $0.11 per share, a year earlier.

Brought down by the company’s increased LNG terminal development expenses, Cheniere Energy Inc. posted a net loss of $2,387,021, or $0.16 per share, for the third quarter of 2003 compared with a net loss of $1,474,972, or $0.11 per share, a year earlier.

With hints of increasing earnings projections for the full year next month, San Diego-based Sempra Energy’s CEO Steve Baum told a Wall Street audience last Wednesday that Sempra has carved out a major role in both natural gas and liquefied natural gas (LNG) marketing. Separately, on its electric side, Sempra is trying to start discussions for a global settlement with California officials regarding a long-term power supply contract with the state Department of Water Resources (DWR) and related litigation stemming from the state’s 2000-2001 energy crisis.

With hints of increasing earnings projections for the full year next month, San Diego-based Sempra Energy’s CEO Steve Baum told a Wall Street audience Wednesday that Sempra has carved out a major role in both natural gas and liquefied natural gas (LNG) marketing. Separately, on its electric side, Sempra is trying to start discussions for a global settlement with California officials regarding a long-term power supply contract with the state Department of Water Resources (DWR) and related litigation stemming from the state’s 2000-2001 energy crisis.

Flush with cash on higher commodity prices, U.S.-based independents’ record quarterly earnings have overshadowed stellar natural gas production numbers from some of the gas-rich domestically focused producers. Mega-independent Devon Energy Corp. gained production-wise with its Ocean Energy Inc. merger; however, Houston Exploration Co., Swift Energy Co. and Range Resources Co. also posted higher North American natural gas production numbers, and will use their bonus cash on exploration and production (E&P) through 2003.

Lehman Brothers raised its earnings per share and cash flow estimates on a group of 16 mid-cap oil and gas production companies by 17% and 7%, respectively, because of higher Nymex gas and oil futures prices and higher Lehman Brothers spot price forecasts for the second quarter and the full year.

Lehman Brothers raised its earnings per share and cash flow estimates on a group of 16 mid-cap oil and gas production companies by 17% and 7%, respectively, because of higher Nymex gas and oil futures prices and higher Lehman Brothers spot price forecasts for the second quarter and the full year.

On the heels of a quarterly earnings report that, although negative, still enthused more buyers than sellers last week, Williams’ annual shareholder meeting Thursday gave the CEO an opportunity to share the company’s vision for a “new” integrated natural gas company that he promised would be “viable, sustainable and value creating.”

On the heels of a quarterly earnings report that, although negative, still enthused more buyers than sellers this week, Williams’ annual shareholder meeting Thursday gave the CEO an opportunity to share the company’s vision for a “new” integrated natural gas company that he promised would be “viable, sustainable and value creating.”