Riding

Riding a wave of positive news that has buoyed its share price and improved the long-term outlook, Williams on Thursday reiterated its growing stability from high natural gas prices, which in turn has benefited all of its gas businesses and its rebounding power business.

Riding a wave of positive news that has buoyed its share price and improved the long-term outlook, Williams on Thursday reiterated its growing stability from high natural gas prices, which in turn has benefited all of its gas businesses and its rebounding power business.

Riding a wave of positive news that has buoyed its share price and improved the long-term outlook, Williams on Thursday reiterated its growing stability from high natural gas prices, which in turn has benefited all of its gas businesses and its rebounding power business.

Instead of riding the coattails of prior-day spikes in energy futures higher, as some sources had expected, the cash market started paying more attention again to weak fundamentals Wednesday. The result was price declines ranging from about a nickel to nearly 40 cents in the East, with a couple of flat to barely lower points thrown into the mix.

Riding the wave of higher prices and increased overseas production, Unocal Corp. Tuesday reported 2003 unaudited net earnings of $643 million, or $2.46 per share, nearly doubling the $331 million, or $1.34 per share recorded for 2002. The company also logged a 79% increase in 4Q2003 results, posting preliminary net earnings of $180 million, or 68 cents per share.

Riding the contributions from its numerous acquisitions during the year, Houston-based Enbridge Energy Partners LP. reported net income for the fourth quarter of $32.3 million, or $0.54 per unit, compared with $26 million, or $0.52 per unit, for the fourth quarter of the prior year. The company also posted year-end net income of $111.7 million, or $1.93 per unit, compared to $78.1 million, or $1.76 per unit, for 2002.

Riding the contributions from its numerous acquisitions during the year, Houston-based Enbridge Energy Partners LP. reported net income for the fourth quarter of $32.3 million, or $0.54 per unit, compared with $26 million, or $0.52 per unit, for the fourth quarter of the prior year. The company also posted year-end net income of $111.7 million, or $1.93 per unit, compared to $78.1 million, or $1.76 per unit, for 2002.

Riding the wave of strong growth in operating income from the company’s diversified energy businesses, a return to more normal weather in its gas distribution business and lower interest expense, Chicago-based Peoples Energy on Friday announced sharply higher fiscal year 2003 results compared to fiscal 2002.

Riding the wave of higher commodity prices, Houston producers Burlington Resources Inc., Apache Corp. and Marathon Oil Corp. all reported jumps in second quarter net income when compared to the same quarter last year.