US E&Ps face 85% Q2 earnings drop: survey; Steep fall in prices more than offset higher production, lower costs

摘要

Houston-As they begin comparing second-quarter earnings with those from last year, executives at the independent E&Ps may feel like the hiker who paused in the valley to look back at the mountain from whence he came. Second-quarter 2008 was a long way back, a long way up and now it seems like a long, long time ago.