Second-quarter profits rise with price, production gains

US oil and gas companies posted solid earnings gains for the second quarter and first half of 2006, while samples of Canadian firms and service and supply companies recorded even bigger year-on-year gains.Prices for crude oil and products remained strong during the second quarter, and production volumes were higher for many oil and gas producers. Natural gas prices, though, moved lower in the second quarter from the first 3 months of 2006 and were little changed from a year earlier.US producersStrong price realizations for crude along with higher production volumes bolstered earnings in the first half and second quarter.The spot price of West Texas Intermediate crude in the quarter ended ...

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