Canadian oil and gas firms' first half earnings soar

For the second quarter, Canadian oil and natural gas producers reported much stronger earnings as a result of higher oil and gas prices. Downstream results gained on improved margins and elevated demand but were tempered by higher feedstock costs.Second quarter net income for the group of companies that OGJ sampled was double that for the same period a year ago on revenue that increased 13%. The group's earnings for the first half of the year were up 180% as revenues gained 38%.All results are reported in Canadian dollars.Company resultsCalgary-based Talisman Energy Inc. reported record earnings of $774 million for the first 6 months of 2003. Earnings were $191 million during the firs...

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