|
|
Article: Increased Natural Gas Production Helps XTO Energy Profit in Fort Worth, Texas.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- April 26, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
By Dan Piller, Fort Worth Star-Telegram, Texas Knight Ridder/Tribune Business News
Apr. 26--FORT WORTH, Texas--Increased natural gas production from wells in East Texas and the San Juan Basin of New Mexico helped XTO Energy of Fort Worth overcome lower prices to post a first-quarter profit of $45.1 million, or 36 cents per share.
A year earlier, XTO earned $91 million, or 76 cents per share. Of that 2001 first-quarter profit, $44.3 million was gained in derivative trades.
The company's cash flow decreased from $159.4 million, or $1.33 per share, last year to $129.5 million, or $1.05 per share.
Natural gas prices de- creased from ...