Quarterly earnings among E&Ps rise amid shift from gas to liquids output

摘要

Earnings for a number of independent exploration-and-production and major oil companies rose in the second quarter of 2011 from the previous year as producers continued to shift their focus to liquids-rich prospects, which have been fetching a much higher price of late than traditional gas prospects. Despite a long-discussed abundance of supply, quarterly US gas production trends were mixed, with most large oil companies - with the exception of ExxonMobil - recording another round of supply downturns, while gas output among independents stagnated or rose only slightly from the previous year.