Oil, gas companies log record earnings in second quarter

08/14/2000
A surge in oil and natural gas prices to historic highs lifted second quarter earnings for virtually all industry participants. The difference that a year can bring was apparent as both major and independent producers in the US and Canada compared their often-record earnings for the recent quarter to the low financial levels they suffered through in 1999 (see tables for a listing of energy and service firms' earnings). Click here to enlarge image"The second quarter was great, and the third quarter is shaping up as more of the same, with slightly lower oil prices and better gas prices," said Stephen A. Smith, who tracks the exploration and production market at Dain Rauscher Wessels, a...
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