Second quarter, first half earnings rise for US producers, service firms

US-based oil and natural gas companies recorded increased earnings for the second quarter and first half of 2003.Producers gained from higher oil and gas prices, while downstream earnings benefited from improved margins. Collectively, US oil and gas companies posted a 105% increase in second quarter earnings on revenues that grew 29% from a year earlier (Table 1). Click here to view PDF.Also, a sample of Canadian oil and gas companies posted healthier earnings on stronger revenues (see related story, p. 22). Click here to enlarge imageA group of service and supply companies collectively posted improved results from a year earlier, although the results were skewed by a large second quarte...

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