Exceptional

Shell Up but Short of Targets; Apache, Marathon Gain on Commodity Prices

A number of exceptional charges offset production gains by Royal Dutch/Shell Group in the third quarter, and despite a double-digit earnings gain, the Anglo-Dutch energy giant fell short of Wall Street’s 41% increase in earnings expectations. Production gains proved no problem for independent Apache Corp., which reported a 34% hike overall and a 19% jump in natural gas production, while Marathon Oil Corp.’s profit tripled, enhanced by stellar exploration performance.

October 24, 2003
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