Enjoyed

All sectors of the energy industry worldwide enjoyed a second consecutive “superb” year in 2004, with larger gains than broad market indices, according to the 2004 Year End Peer Group Stock Market Performance Review by consulting firm John S. Herold Inc.

All sectors of the energy industry worldwide enjoyed a second consecutive “superb” year in 2004, with larger gains than broad market indices, according to the 2004 Year End Peer Group Stock Market Performance Review by consulting firm John S. Herold Inc.

Despite the high commodity prices enjoyed by both natural gas and crude oil producers, John B. Walker, chairman of the Independent Petroleum Association of America (IPAA), said that observers of the E&P sector shouldn’t conclude that all that glitters is gold.

As parts of the Northeast and Midwest “enjoyed” a brief respite from an ongoing siege of severely cold weather, prices took steep dives Monday. But with an even worse blast of winter set to show up as early as Tuesday night, traders braced for what are expected to be fairly large rebounds.

High heat levels were returning Monday in some areas that had enjoyed some weekend relief, such as the Northeast, and never really left other areas, such as the South. The resultant power generation load was being felt in rising gas prices at nearly every point. Except for flat to slightly higher numbers for some Rockies pipes, Niagara, and ANR ML7, price increases elsewhere ranged from about a nickel to more than 40 cents at Transco Zone 6-New York City pool. Most were in the vicinity of a dime.

High heat levels were returning Monday in some areas that had enjoyed some weekend relief, such as the Northeast, and never really left other areas, such as the South. The resultant power generation load was being felt in rising gas prices at nearly every point. Except for flat to slightly higher numbers for some Rockies pipes, Niagara, and ANR ML7, price increases elsewhere ranged from about a nickel to more than 40 cents at Transco Zone 6-New York City pool. Most were in the vicinity of a dime.

Joining the growing list of oil and gas industry companies thatenjoyed growth during 2000, AES Corp. reported strong growth in itsfourth quarter and year-end results. The diversified energy companyrecorded net income before a one-time environmental fine of $658million a 189% increase over 1999. Diluted earnings before specialcharges were $1.46 per share compared to $0.62 per share in 1999.

Joining the growing list of oil and gas industry companies thatenjoyed growth during 2000, AES Corp. reported strong growth in itsfourth quarter and year-end results. The diversified energy companyrecorded net income before a one-time environmental fine of $658million a 189% increase over 1999. Diluted earnings before specialcharges were $1.46 per share compared to $0.62 per share in 1999.

Building on the success it has enjoyed so far in its Bossiernatural gas play in East Texas, Anadarko Petroleum Corp. plans tospend nearly a third more in the region this year, almost $535million total, to expand its development program and increase itsexploration prospects.