Quarterly

XTO Energy reported record first quarter natural gas production of 771 MMcf/d, a 30% increase from the first quarter of 2003, and earnings for the quarter of $94.1 million, or 40 cents per share, a 42% increase from the same period last year. The company also completed the purchase of 175 Bcfe in Texas and Arkansas gas reserves.

While the losses continued last year at Reliant Resources, the company was able to slow the bleeding in the fourth quarter of 2003 to a loss of $29 million, or $0.10 per share, from continuing operations compared to a loss of $176 million, or $0.60 per share, for 4Q2002. Reliant reported net income of $32.5 million (11 cents/share) in the fourth quarter compared to a net loss of $648.6 million ($2.23/share) in 4Q2002.

While the losses continued last year at Reliant Resources, the company was able to slow the bleeding in the fourth quarter of 2003 to ($29 million), or ($0.10) per share, from continuing operations compared to ($176 million), or ($0.60) per share, for 4Q2002. Reliant reported net income of $32.5 million (11 cents/share) in the fourth quarter compared to a net loss of $648.6 million ($2.23/share) in 4Q2002.

Previewing the qualitative, non-financial part of it quarterly and annual financial results, which will be released later this month, Sempra Energy CEO Steve Baum told employees in an internal report that the company set a “new performance standard” in 2003, passing a number of “major milestones” mostly regarding merchant gas and electric activities. Natural gas, he said, remains a key to Sempra’s overall long-term strategy.

Previewing the qualitative, non-financial part of it quarterly and annual financial results, which will be released later this month, Sempra Energy CEO Steve Baum told employees in an internal report that the company set a “new performance standard” in 2003, passing a number of “major milestones” mostly regarding merchant gas and electric activities. Natural gas, he said, remains a key to Sempra’s overall long-term strategy.

KeySpan on Thursday posted lower quarterly results but higher net income for all of 2003 mainly because of cold weather and strong gas distribution results. Its 4Q2003 net income of $136.8 million, or $0.85/diluted share, was down from the $148.6 million, or $1.03, that the company posted in 4Q2002. On the year, the company posted net income of $386.7 million, or $2.40/diluted share, compared to $377.7 million, or $2.61/share in 2002.

Peoples Energy has reported net income for its fiscal 2004 first quarter ended Dec. 31, about equal to the year-ago tally, but with different contributions from its various divisions. The Peoples’ oil and gas production segment prospered, but gas distribution for the Chicago-based company faltered on warm winter weather.

Atlanta Gas Light parent company AGL Resources beat analysts’ quarterly earnings estimates by about 10 cents/share but reported slightly lower results of 54 cents/share compared to 55 cents/share in 4Q2002. The company reported a 10% jump in earnings for the year to $2.01 per diluted share.

Peoples Energy has reported net income for its fiscal 2004 first quarter ended Dec. 31, about equal to the year-ago tally, but with different contributions from its various divisions. The Peoples’ oil and gas production segment prospered, but gas distribution for the Chicago-based company faltered on warm winter weather.