House Democrats last week introduced legislation that would, at current prices, put an end to much of the royalty relief for oil and natural gas production on federal lands. Republicans began an inquiry into the Interior Department’s implementation of the royalty relief program. Industry urged lawmakers to look at the “full picture,” saying the federal government would lose more than it would gain by eliminating royalty relief.
Revenues
Articles from Revenues
Anadarko’s Refocused Strategy Leads Revenues Higher, but Output Falls
Anadarko Petroleum Corp., having gone through a full year of revamping its business strategy, on Friday saw its revenues climb 10% on higher prices, but said that overall production volumes fell on asset sales over the past year. The company reported net income of $506 million ($2.12/share), compared with $405 million ($1.59) in 2Q2004.
August 1, 2005
Magnum Hunter Output up 26%; On Track to Grow 10-16%
Net income was $33.1 million (36 cents/share) for the first quarter, a 29% increase over the $19.3 million (28 cents) posted in 1Q2004′. Total revenues were $147.2 million, an increase of 47% compared with $100.4 million a year earlier. Operating profits were $61.9 million, a 52% increase over the $40.6 million in 1Q2004, and net cash increased 19% to $68.9 million from $58.2 million.
May 12, 2005
Canadian Superior Production Grows 179% in Q1
Calgary-based Canadian Superior reported Friday that in the first quarter, year-over-year oil and gas production grew 179%, revenues were up 127% and cash flow was up 574%, soaring on significant gains in Western Canadian operations, where production averaged 2,594 boe/d.
May 24, 2004
Devon Reports Gains, Working to Lower F&D Costs
Devon Energy Corp., the largest U.S.-based independent producer, Thursday reported a 13% increase in quarterly net income and a 43% increase in total daily oil, natural gas and gas liquids production. The large production increase was mainly a result of Devon’s Ocean Energy merger last year. Excluding the impact of the merger Devon’s production still climbed 7% over 1Q2003.
May 10, 2004
Devon Reports Gains, Working to Lower F&D Costs
Devon Energy Corp., the largest U.S.-based independent producer, Thursday reported a 13% increase in quarterly net income and a 43% increase in total daily oil, natural gas and gas liquids production. The large production increase was mainly a result of Devon’s Ocean Energy merger last year. Excluding the impact of the merger Devon’s production still climbed 7% over 1Q2003.
May 7, 2004
ICE Pre-Tax Profit Plummets 62% in 2003
Atlanta-based IntercontinentalExchange (ICE) saw its pretax profit plummet 62% to $19.9 million, its cash flow drop 47% to $27.1 million and its revenues tumble 25% to $93.7 million last year as the energy trading business struggled through a credit crisis and trading dropped sharply on its over-the-counter (OTC) electronic marketplace.
March 8, 2004
ICE Pre-Tax Profit Plummets 62% in 2003
Atlanta-based IntercontinentalExchange (ICE) saw its pretax profit plummet 62% to $19.9 million, its cash flow drop 47% to $27.1 million and its revenues tumble 25% to $93.7 million last year as the energy trading business struggled through a credit crisis and trading dropped sharply on its over-the-counter (OTC) electronic marketplace.
March 5, 2004
Quicksilver’s 2Q Revenues Increase as Profits Stumble
Due to a host of items that negatively affected its results, Fort Worth, TX-based Quicksilver Resources Inc. reported second quarter 2003 net income of $1.1 million, or 5 cents per diluted share, a substantial decline from the company’s 2Q2002 results of $3.7 million (18 cents per diluted share).
August 18, 2003
Quicksilver’s 2Q Revenues Increase as Profits Stumble
Due to a host of items that negatively affected its results, Fort Worth, TX-based Quicksilver Resources Inc. reported second quarter 2003 net income of $1.1 million, or 5 cents per diluted share, a substantial decline from the company’s 2Q2002 results of $3.7 million (18 cents per diluted share).
August 14, 2003
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