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Low Natural Gas Prices Diminish El Paso Corporation's Exploration and Production Earnings, an Industrial Info News

Thu Nov 5, 2009 5:30am EST
 
  SUGAR LAND, TX, Nov 05 (MARKET WIRE) -- 
Researched by Industrial Info Resources (Sugar Land, Texas) -- Natural
gas production and transmission company El Paso Corporation (NYSE:EP)
(EPC) (Houston, Texas) recently reported earnings for the company's third
fiscal quarter of 2009, which ended September 30. Net income for the
company was down 85% year over year, moving from $445 million in 3Q08 to
$67 million in 3Q09. Lower natural gas prices caused a substantial drop
in EBIT (earnings before interest and taxes) in the company's Exploration
and Production business unit.

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    Industrial Info Resources (IIR) is the leading provider of global market
intelligence specializing in the industrial process, heavy manufacturing
and energy related markets. For more than 26 years, Industrial Info has
provided plant and project opportunity databases, market forecasts, high
resolution maps, and daily industry news. For more information send
inquiries to oilandgasproductiongroup@industrialinfo.com or visit our
website at www.industrialinfo.com.

    

Contact:
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Copyright 2009, Market Wire, All rights reserved.

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