Quarterly

Reliant Resources Inc. said in its quarterly 10Q filing with the Securities and Exchange Commission that it received a request from the U.S. Attorney for the Southern District of Texas in October for information regarding “certain price reporting matters.”

Reliant Resources Inc. said in its quarterly 10Q filing with the Securities and Exchange Commission that it received a request from the U.S. Attorney for the Southern District of Texas in October for information regarding “certain price reporting matters.”

Reliant Resources Inc. reported last Tuesday a net loss of nearly $6 million for the second quarter, blaming a weak wholesale power market, high natural gas prices and an increase in interest expense associated with a major refinancing package. The loss came as the Houston company announced plans to eliminate about 650 employee positions as part of a cost-cutting move. Reliant Resources stock plunged by $1.10 following the release of the company’s gloomy earnings report.

With declines in quarterly earnings but stronger results in trading and international businesses, San Diego-based Sempra Energy officials said Thursday they consider their company “ahead of the competition” to be the next major developer/operator of liquefied natural gas (LNG) terminals in North America — one on the Pacific Coast of North Baja California in Mexico and the other in the Gulf of Mexico offshore Louisiana.

Mirroring earlier quarterly reports of its oil and gas peers, Magnum Hunter saw its income nearly double from a year ago, but actual production numbers were down. While core production grew 7%, the Irving, TX-based independent reported a decline in actual boe production of 8% from 2Q02, which it attributed to non-core property sales in fiscal 2002 and 2003.

Its close-to-defunct risk management business, plus its former communications business and litigation costs, tacked on another large loss for Dynegy Inc.’s second quarter. The company Friday reported a net loss of $290 million, or $1.00 per diluted share, $240 million of which were connected with its former businesses.

Dynegy Inc. on Friday previewed its quarterly earnings report, announcing that its core businesses’ results met management’s expectations. However, while power generation, natural gas liquids and regulated energy delivery did well, those results will be offset by higher-than-expected corporate-level expenses, including pending litigation, which will result in a net loss for the quarter.

On the heels of a quarterly earnings report that, although negative, still enthused more buyers than sellers this week, Williams’ annual shareholder meeting Thursday gave the CEO an opportunity to share the company’s vision for a “new” integrated natural gas company that he promised would be “viable, sustainable and value creating.”

Calgary-based AltaGas Services Inc. reported record first quarter net income on Wednesday of C$10 million or C$0.22 per basic and diluted share, compared to C$7.4 million or C$0.19 per basic and diluted share for the first quarter of 2002, representing a 35% increase in net income and a 16% increase in earnings per share.