Margin

Although it beat consensus estimates by a fairly large margin, higher production by Burlington Resources failed to offset lower commodity prices during the second quarter, as the company reported a 26% drop in net income to $170 million, or $0.84 per diluted share, compared to $231 million, $1.10/share in 2Q2001. Wall Street was expecting about 38 cents per share.

The House voted by a narrow margin yesterday to retain a controversial measure that attempts to block construction of the 744-mile Gulfstream pipeline project that would transport gas from Mobile Bay, AL, across the Gulf of Mexico to Florida.

PJM Interconnection recently said that it expects its peak load this summer will come in at 52,977 MW, with a reserve margin of 17.7%. Overall, PJM said that its forecasted 2001 summer situation will be similar to the summer of 2000.

PJM Interconnection last week said that it expects its peak load this summer will come in at 52,977 MW, with a reserve margin of 17.7%. Overall, PJM said that its forecasted 2001 summer situation will be similar to the summer of 2000.

The shareholders of the NYMEX Holdings Inc., and the New York Mercantile Exchange elected by a margin of 476 to 115 Pioneer Futures owner Vincent Viola as the new chairman of the board. Gordon Rutledge, Madeline Boyd, Gary Rizzi, J. Robert Collins, Kenneth Garland, Robert Steele and Harley Lippman also were elected to the board. In addition, a resolution was passed to add three equity holder representative positions to the board. An election for these positions will be scheduled shortly. Viola was vice chairman of the exchange from 1993 to 1996. Pioneer is currently a clearing member of both divisions of Nymex and the New York Board of Trade. Viola also served on the exchange board in the at-large category from 1987 to 1990. He is a graduate of the U.S. Military Academy at West Point and the New York Law School. In 1988, he formed the First Bank Group, which operates community banks in Dallas and the surrounding area. In 1998, he formed MV Technologies, a developer of fully integrated electronic platforms for trading futures, options, equities, and derivatives.

The shareholders of the NYMEX Holdings Inc., and the New YorkMercantile Exchange elected by a margin of 476 to 115 PioneerFutures owner Vincent Viola as the new chairman of the board.Gordon Rutledge, Madeline Boyd, Gary Rizzi, J. Robert Collins,Kenneth Garland, Robert Steele and Harley Lippman also were electedto the board. In addition, a resolution was passed to add threeequity holder representative positions to the board. An electionfor these positions will be scheduled shortly. Viola was vicechairman of the exchange from 1993 to 1996. Pioneer is currently aclearing member of both divisions of Nymex and the New York Boardof Trade. Viola also served on the exchange board in the at-largecategory from 1987 to 1990. He is a graduate of the U.S. MilitaryAcademy at West Point and the New York Law School. In 1988, heformed the First Bank Group, which operates community banks inDallas and the surrounding area. In 1998, he formed MVTechnologies, a developer of fully integrated electronic platformsfor trading futures, options, equities, and derivatives.

New Jerseyites – by a margin of more than two-to-one – favorexpanding an existing natural gas pipeline to serve residents,according to a new public opinion poll that has been dropped intothe controversy over Williams-Transco’s proposed MarketLinkproject.

AGL Resources Inc., parent of Atlanta Gas Light (AGL) posted anet loss of $1.2 million for the third quarter ended June 30,compared with a gain of $1.4 million for the year-earlier quarter.