Respectively

PG&E called a high inventory systemwide operational flow order for Sunday and Monday with 0% and 5% tolerances, respectively, and $5/Dth penalties. No OFO was in effect for Tuesday as of 4 p.m. EST Monday.

PG&E called a high inventory systemwide operational flow order for Sunday and Monday with 0% and 5% tolerances, respectively, and $5/Dth penalties. No OFO was in effect for Tuesday as of 4 p.m. EST Monday.

Marathon Oil Co. and TotalFinaElf have set new world water-depth records for producing wells and laying pipelines, respectively, both at 7,209 feet below the surface, according to Interior Department’s Minerals Management Service (MMS). This exceeds the previous deepwater production record by about 100 feet, which was set by the French energy concern, TotalFinaElf, two months ago in the Aconcagua field in the Gulf of Mexico.

Marathon Oil Co. and TotalFinaElf have set new world water-depth records for producing wells and laying pipelines, respectively, both at 7,209 feet below the surface, according to Interior Department’s Minerals Management Service (MMS). This exceeds the previous deepwater production record by about 100 feet, which was set by the French energy concern, TotalFinaElf, two months ago in the Aconcagua field in the Gulf of Mexico.

Duke Energy missed analysts earnings estimates for the fourth quarter and full year, posting earnings per share (EPS) of 35 cents and $2.64, respectively, compared to average Wall Street consensus estimates of 45 cents for the fourth quarter and $2.74 for the year. In 4Q2000, the company posted EPS of 47 cents and for the full year it posted $2.10. Lower commodity prices hindered growth in Duke’s field services operations and mild weather hurt results from the company’s North Carolina utility company. Based on the results, Credit Suisse First Boston analyst Curt Launer said he was lowering expectations for this year from $2.85 to $2.75/share. Duke’s stock price was down nearly 3% by mid-day on Thursday after its announcement. However, Duke’s marketing and merchant power operations performed well and are expected to showed continued strong growth this year. In addition, the company is buying Canadian pipeline giant Westcoast Energy. “Despite all of the turbulence in the industry, it was our best year ever,” said CEO Richard Priory, noting a 26% increase in ongoing earnings per share before special charges in 2001. Non-recurring items, however, brought earnings per share gains down to only 2.5%, and the company’s fourth quarter was particularly difficult with diluted earnings per share after special items down 26% to 28 cents. Priory said the company’s balanced energy portfolio led to full-year improvements. Marketing and trading operations, merchant power and Duke’s other unregulated businesses showed earnings growth of 127%. Before special items, the company posted record earnings of $2.64/share compared to $2.10 in 2000, but short of the $2.74 average of analysts’ estimates. Including non-recurring items, Duke posted $2.45/share in 2001 compared to $2.39 in 2000. Net income for the year rose to $1.9 billion from $1.8 billion in 2000. Revenues for 2001 grew 21% to $60 billion. Fourth quarter net income fell to $225 million from $284 million.

Duke Energy missed analysts earnings estimates for the fourth quarter and full year, posting earnings per share (EPS) of 35 cents and $2.64, respectively, compared to average Wall Street consensus estimates of 45 cents for the fourth quarter and $2.74 for the year. In 4Q2000, the company posted EPS of 47 cents and for the full year it posted $2.10.

Global Marine Inc. and Key Energy Services Inc., leading offshore and onshore drilling contractors respectively, yesterday reported significant upticks in their quarterly earnings due to the ascending oil and gas drilling activity in the United States and worldwide.

Gathering, processing and marketing acquisitions in 1999 and2000 propelled ONEOK, Inc. to 36%, 42% and 44% increases in netincome, earnings per share and operating income respectively lastyear over 1999, the company said in announcing financial resultsTuesday.

MCN Energy Group warned investors Friday it’s not likely to meetanalysts’ 1998 and 1999 earnings expectations of $1.64/share and$2.02/share, respectively, and reiterated its plan to sell itsexploration and production business, which includes more than 1.3Tcf of proved reserves, making the company among the top 20 largestindependent producers in the nation.