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NUI Corp. reported higher earnings from continuing operations for both the most recent six month period and the most recent quarter (NUI’s second quarter in fiscal 2003), but the company announced its intention to exit the retail energy marketing business.

Stung by lower-than-expected first quarter results made worse by one-time charges due to accounting changes, Sempra Energy CEO Steve Baum Thursday predicted his energy trading operation would rebound in the short term from the first quarter loss. He also predicted his company would be North America’s largest importer of liquefied natural gas (LNG) by 2007.

Stung by lower-than-expected first quarter results worsened by one-time charges due to accounting changes, Sempra Energy CEO Steve Baum Thursday predicted his energy trading operation would rebound in the short term from the first quarter loss. He also predicted his company would be North America’s largest importer of liquefied natural gas (LNG) by 2007.

NUI Corp. reported higher earnings from continuing operations for both the most recent six month period and the most recent quarter (NUI’s second quarter in fiscal 2003), but the company announced its intention to exit the retail energy marketing business.

On the backs of its pipeline system and independent petroleum products terminals, Williams Energy Partners LP. announced first-quarter 2003 operating profit of $38.1 million compared with $28.8 million in 2002, representing a 32% increase. The company also noted that net income for the same period increased 38% from $21.1 million in 2002 to $29.1 million in 2003.

Range Resources said its first quarter production rose 3.3% from last year’s first quarter to 154 MMcfe/d, of which 75% was natural gas, and the company is expecting even higher production in the second quarter.

As it continues its efforts to exit the wholesale marketing arena, sell assets and restructure, Aquila Inc.’s CEO last week warned that the losses will continue through this year and into 2004 as the rebuilding utility repairs its damaged balance sheet.

CMS Energy on Tuesday reported it incurred steep losses in 2002 due mostly to impairments and write-downs of the fair market value of assets that the energy company has sold or expects to sell in the near future to help improve its balance sheet.

Based on an independent petroleum engineer review, XTO Energy Inc. said its estimated proved oil and gas reserves on the first of the year were a record 3.37 Tcfe, up 26% from the 2.68 Tcfe figure that the company posted at the beginning of last year.