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Consolidated Edison (Con Edison) reported a 58% drop in net income in the fourth quarter of 2003 to $50 million (21 cents/share) mainly because of one-time charges related to its unregulated telecommunications and generation businesses. It reported an 18% drop in net income for the year, but the utility company said earnings from continuing operations rose 22% to $146 million (65 cents/share) in the fourth quarter and slipped only 7% to $624 million ($2.83/share) for the year.

Vintage Petroleum is paying $52.5 million for oil and gas producing properties and gathering and processing assets mainly in Duchesne and Uintah counties, UT, from El Paso Corp.

Kicking off the next phase of the Sable Island project, Exxon Mobil Corp. said last week that natural gas production has begun at the Alma field, the first Tier 2 production from the Sable project, located 125 miles offshore Nova Scotia.

TransCanada’s return to mainly core regulated pipeline operations, which was started well before the industry trend began in earnest over the last two years, clearly has paid off in terms of stable financial growth.

TransCanada’s return to mainly core regulated pipeline operations, which was started well before the industry trend began in earnest over the last two years, clearly has paid off in terms of stable financial growth.

While futures slipped a few cents Wednesday, cash prices managed gains of 5-20 cents mainly on the continuing wide gap between current cash and November futures and the cool temperatures and slightly stronger demand in the Midwest and Northeast market areas.

Assumed normal weather for next winter and the addition of another 2,400 MW of gas-fired power generation this summer on top of the 1,000 MW last summer should lead to a 6.7% increase in gas deliveries in Michigan this year, the Michigan Department of Consumer & Industry Services said in its semiannual energy appraisal. The department said it expects 905 Bcf of gas deliveries this year.

Transcontinental Gas Pipe Line has placed its Sundance Expansion Project into service, increasing capacity by more than 236,000 Dth/d mainly for traditional markets and new power plants in Georgia and the Carolinas. The project includes four pipeline loops, totaling 38 miles, along the company’s existing mainline system and 41,225 hp of compression at two existing compressor stations in Georgia — Station 115 in Coweta County and Station 125 in Walton County.

Williams saw its earnings jump 63% in the third quarter, mainly due to its acquisition of Denver-based producer Barrett Resources Corp. and strong earnings from its Energy Marketing & Trading segment, which was broken out as the company’s third industry group in September. The earnings gave Williams the impetus to raise its 2001 earnings forecast to the current consensus of $2.40 a share from a previous $2.30-$2.35 a share, and it reiterated a 15%/year earnings growth goal beginning in 2002.