Still

Joining the rather large list of third quarter 2000 earningssuccess stories, Williams reported net income that was more thanquadruple the figure for the same period last year. Its profitsrose to $121.1 million ($0.27 per share) from $28.1 million ($0.06per share).

Joining the list of third quarter 2000 earnings success stories,Williams reported its third quarter net income more than quadrupledover last year’s figure for the same time period, from $28.1million ($0.06 per share) to $121.1 million ($0.27 per share). Thecompany attributed the growth to its fourth successive quarter ofyear-over-year earnings improvement within its energy businesses.

Even with its natural gas production lagging by more than 100MMcf/d and oil production dropping by more than 15,000 b/d,Burlington Resources was still able to boost its net income from1999’s third quarter of $61 million ($.28 per share) to this year’sthird quarter level of $200 million ($.93 per share) due torealized oil and gas prices rising 47% and 42% respectively fromlast year’s 3Q.

Even with its natural gas production lagging by more than 100MMcf/d and oil production dropping by more than 15,000 b/d,Burlington Resources was still able to boost its net income from1999’s third quarter of $61 million ($.28 per share) to thisyear’s third quarter level of $200 million ($.93 per share) due torealized oil and gas prices rising 47% and 42% respectively fromlast year’s 3Q.

Natural gas is the common denominator that will “foster allreasonable wishes” of environmental groups and still support majorand sustained economic activity for the foreseeable future,according to a University of Houston economics professor who so farhas been on target in his predictions about energy.

Natural gas is the common denominator that will “foster allreasonable wishes” of environmental groups and still support majorand sustained economic activity for the foreseeable future,according to a University of Houston economics professor who so farhas been on target in his predictions about energy.

In its first major power sale from its still unfinished merchantenergy plant in Arizona, Calpine Corp. has entered into a five-yearpower sales agreement with the Imperial Irrigation District todeliver 150 MW of electricity from its South Point Energy Center tothe district’s Southern California customers beginning in May 2002.

Although a lot of leg work still remains to be done, PetroleosMexicanos, the national oil company of Mexico, plans to drill fivedeepwater wells in the deepwater Gulf of Mexico in the next sevento 10 years, according to a petroleum engineer for PemexExploration & Production.

Led by local buying, natural gas futures spiked higher for thesecond time in three days Wednesday as traders positionedthemselves on the long side of the market, ahead of the release offresh hurricane and storage news. However, after posting a $4.79high minutes after 2:00 p.m. (EST), the September contract waspressured lower throughout the last hour of trading as locals tookprofits on their long holdings. The prompt month finished up 8.5cents at $4.605, near the lower end of Wednesday’s trading range.