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Ahead of the
Bell: Oil & Gas Conference
Ahead of
the Bell: Oil & Gas Conference
Monday, 20 August 2007
Oil and Gas
Companies Meet in Denver for
Industry Conference
NEW YORK (AP) -- A number of
oil and gas companies will
gather in Denver this week at
an industry conference,
including Harvest Natural
Resources Inc. and Questar
Corp.
Other companies
presenting include: Bill
Barrett Corp., Patterson-UTI
Energy Inc., ATP Oil & Gas
Corp. Cabot Oil & Gas Corp.,
Chesapeake Energy Corp.,
Apache Corp. and Brigham
Exploration.
Earlier this month,
Chesapeake Energy said its
second-quarter profit rose 48
percent on increased natural
gas production. Both profit
and sales beat Wall Street
predictions, as natural gas
production rose to 156.1
billion cubic feet from 129.8
billion.
Also, Chesapeake said it
will boost its average daily
production rate by 18 percent
to 22 percent in 2007.
Apache, which also presents
this week, recently reported a
12 percent drop in
second-quarter profit from a
year-ago period boosted by a
one-time tax gain. During the
quarter, production rose 14
percent to 572,000 barrels of
oil equivalent per day.
Also appearing at the
conference is Patterson-UTI,
which provides contract
drilling services.
Earlier this month, the
company said fewer rigs in
operation and mild weather
kept a lid on natural gas
prices and caused
second-quarter profit to fall
19 percent.
Source: NGV Global
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