Tuesday, September 21, 2010

EIA: Financial News for Independent Energy Companies

Independent energy companies (including oil and gas producers in addition to oilfield companies) reported a 77 percent increase in income in the second quarter of 2010 (Q210) to $3.4 billion.

Oil and gas producer revenues increased sharply along with crude and natural gas prices, and earnings rebounded from losses in Q209 to their highest second quarter level in the 2005-2010 period.

Oilfield company revenue and earnings increased modestly in Q209 but remained well below the Q2 average over 2005-2010.

Ethanol producer revenues increased and earnings crossed into the black after losses in Q209.

Read the entire EIA article.

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