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San Antonio-Based Aquila Gas Pipeline Reports Decline in Profits.(Originated from San Antonio Express-News)
Knight Ridder/Tribune Business News, October, 1997 by Pfister, Bonnie
Oct. 31--Aquila Gas Pipeline on Thursday reported a 37 percent decline in third-quarter profits, due principally to lower natural gas liquid prices and natural gas margins, the company said Thursday.
The San Antonio-based, natural gas marketer's third-quarter net income fell to $4.75 million, or 16 cents per share, from $7.54 million, or 26 cents a share, in the same period last year.
Operating revenues increased to $254.5 billion from $202.5 billion in the comparable quarter of 1996.
Aquila President and Chief Executive Officer Joe Becraft said production of natural gas liquids decreased by 11 percent to 38,000 barrels per day because of a leaner gas stream.
The company began an enhancement to its Elk City Processing...
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