US, Canadian oil and gas firms post strong 4Q, yearend 2000 results

High prices for crude oil and natural gas coupled with strong refining margins pushed earnings of US and Canadian oil and gas companies to high, and in many cases record, levels in fourth quarter 2000 and for the full year.Exploration and production companies benefited from robust commodity prices-especially for natural gas in the fourth quarter.For refiners, the year's last quarter was especially strong as crude prices subsided and products held value.Rising rig counts and prices for oil field equipment and services boosted profits for service-supply companies.The largest US companies reported annual and fourth quarter results earlier this month (OGJ, Feb. 5, 2001, p. 31).Integrated ...

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