Sell Less Oil While Making More Money

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Energy Partners triples income
N.O. firm gains despite storm woes
Wednesday, February 16, 2005
By Mary Judice
Business writer

Energy Partners Ltd. more than tripled its net income in the fourth quarter even as storms cut into the amount of oil and gas the company had expected to produce.

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Despite a slowdown in production, both oil and gas prices were substantially higher and allowed Energy Partners to report record revenue. The company received an average $39.85 per barrel of oil, which was a 42 percent increase from a year ago, and $6.66 per thousand cubic feet of natural gas, which was 37 percent higher than a year ago.

Times-Picayune