COMPANY NEWS: Oil and gas firms highlight earnings, production gains

It's become a matter of "catch as catch can" as oil and gas companies take advantage of record-high energy commodity prices to strengthen their balance sheets and hone their asset portfolios. Success stories abound in both the US and on international fronts, particularly in the exploration and production sector.Executives from Phillips Petroleum Co. and Apache Corp. were among those touting their company's financial and production gains at Lehman Brothers' energy conference held Sept. 7 in New York City.Tom Morris, Phillips's senior vice-president and chief financial officer, updated the status of the Bartlesville, Okla.-based firm's joint venture partnerships. Phillip...

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