House Democrats plan to take up a package of energy measures next week that would put producers in the unenviable position of having to either drill on their existing leases or face the prospect of paying higher fees.
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El Paso Shares Plummet, Wise to Retire
El Paso Corp. shares rebounded 22% on Friday to $4.19 after bottoming out at Thursday’s low of $3.33. On Wednesday, it was in the unenviable position of being the most heavily traded common stock on the New York Stock Exchange because investors were dumping shares in buckets following the announcement that CEO William Wise would step down as chairman at the end of the year and hand over his title of CEO as soon as the board could find a replacement.
February 17, 2003
El Paso Stock Continues Decline
El Paso Corp. was in the unenviable position of being the most traded common stock on the New York Stock Exchange Wednesday because investors were continuing a sell-off. The company’s stock dropped a little over 22% to $3.65. The market overall was down on war fears, and other energy companies took a hit, but not in the same league as El Paso.
February 13, 2003
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