Williams missed Wall Street earnings estimates of 8 cents/share for the first quarter of 2004, but reported income from continuing operations of 1 cent/share or $5.4 million compared to a restated loss of 9 cents/share or $39.3 million for 1Q2003. It also posted net income of $9.9 million, or 2 cents/share, compared to a net loss of $814.5 million, or $1.59/share a year earlier.
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Articles from Estimates
Williams Reports Small 1Q Profit, May Keep Power Assets
Williams missed Wall Street earnings estimates of 8 cents/share for the first quarter of 2004, but reported income from continuing operations of 1 cent/share or $5.4 million compared to a restated loss of 9 cents/share or $39.3 million for 1Q2003. It also posted net income of $9.9 million, or 2 cents/share, compared to a net loss of $814.5 million, or $1.59/share a year earlier.
XTO Adds Gas-Rich Reserves in TX, LA; Kerr-McGee Ups Ante in North Slope, Brazil
XTO, whose focus is U.S.-based, estimates that its newest acquisitions are 90% natural gas and 50% proved developed and will add about 30 MMcfe/d to the company’s production base. Natural gas production in 2004 now targets an increase of 16% to 18%, up from the previous guidance of 13% to 15%. Most of the latest acquisitions are scheduled to close on or before Jan. 30.
Enron Estimates More Money for Creditors in Revised Filing
Enron Corp. issued another revised creditor plan to the bankruptcy court overseeing its case on Monday, noting that it now expects to increase the amount of money for unsecured creditors to receive when it exits Chapter 11 bankruptcy court protection. The revised figures were included in court documents submitted to the U.S. Bankruptcy Court for the Southern District of New York on Monday.
MMS Estimates Much Greater GOM Deep Shelf Gas Resources
The U.S. Minerals Management Service (MMS) has raised its estimate of probable recoverable natural gas in the deep shelf area of the Gulf of Mexico by 175%, from 20 Tcf to 55 Tcf.
MMS Estimates Much Greater GOM Deep Shelf Gas Resources
The U.S. Minerals Management Service (MMS) has raised its estimate of probable recoverable natural gas in the deep shelf area of the Gulf of Mexico by 175%, from 20 Tcf to 55 Tcf.
Quicksilver’s 3Q Gas Production, Earnings Beat Last Year’s Quarter
With its coalbed methane production beating even its own estimates, Quicksilver Resources Inc. reported third quarter 2003 net income of $5.2 million ($0.23/share) on revenues of $33.5 million, marking a significant increase over third quarter 2002 net income of $3.6 million ($0.18/share) on revenues of $30.3 million.
Quicksilver’s 3Q Gas Production, Earnings Beat Last Year’s Quarter
With its coal bed methane production beating even its own estimates, Quicksilver Resources Inc. Monday reported third quarter 2003 net income of $5.2 million ($0.23/share) on revenues of $33.5 million, marking a fairly significant increase over third quarter 2002 net income of $3.6 million ($0.18/share) on revenues of $30.3 million.
PSEG Avoids Large One-Time Charges, Posts Improved Results
Public Service Enterprise Group (PSEG) beat Wall Street estimates and avoided the large one-time negative charges of a year ago in announcing earnings from continuing operations for the second quarter of $150 million, or 66 cents/share, compared to a loss of $227 million, or $1.10/share.
PSEG Avoids Large One-Time Charges, Posts Improved Results
Public Service Enterprise Group (PSEG) beat Wall Street estimates and avoided the large one-time negative charges of a year ago in announcing earnings from continuing operations for the second quarter of $150 million, or 66 cents/share, compared to a loss of $227 million, or $1.10/share.