SOURCE: Industrial Info Resources

November 05, 2009 05:30 ET

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

SUGAR LAND, TX--(Marketwire - November 5, 2009) - 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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