--(www.USEquityNews.com)-- 07/31/2008 - Oil and Gas Exploration industry alert provided by U.S. Equity News. FX Energy, Inc. (NYSE: FXEN) announced recently that a conference call to discuss the Company's second quarter 2008 financial and operating results will be held at 4:30 p.m. Eastern on Thursday, August 7, 2008. The call will be hosted by David Pierce, FX Energy's president and CEO, and Clay Newton, VP of Finance. The call will also include a discussion of the Company's current operations. Financial and operating results will be released on August 7, 2008, prior to the call. The call will also be webcast live and interested parties may access the webcast through FX Energy's homepage at www.fxenergy.com. A rebroadcast will also be available through the Company's website.
PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) recently reported net income of $81.4 million, or $0.52 per share, for the three months ended June 30, 2008, compared to net income of $140 million, or $0.88 per share, for the three months ended June 30, 2007. Revenues for the second quarter of 2008 were $526 million, compared to revenues of $523 million for the second quarter of 2007. The Company reported net income of $159 million, or $1.02 per share, for the six months ended June 30 2008, compared to net income of $255 million, or $1.62 per share, for the six months ended June 30, 2007. Revenues for the first six months of 2008 were $1.03 billion, compared to revenues of $1.07 billion for the first six months of 2007.
CONSOL Energy Inc. (NYSE: CNX), a high-Btu bituminous coal and natural gas company, reported earnings of $101.0 million, or $0.54 per diluted share, for its second quarter ended June 30, 2008, compared with $153.1 million, or $0.83 per diluted share for the same period a year earlier, which included asset sales that resulted in the recognition of $59 million in net income in the 2007 period. Net cash from operating activities was $323.9 million for the quarter just ended, compared with $271.1 million for the June 2007 quarter. For the June 2008 quarter, total revenue and other income was up more than 14 percent period-to-period. Coal sales revenue was up approximately 19 percent while revenue from gas sales was up more than 58 percent, due primarily to higher average prices for both products and higher gas sales volumes.
Diamond I, Inc. (OTCBB: DMOI), a reporting company trading on the OTCBB that is to change its name to "US BioFuels Exchange, Inc.," announced recently that it has obtained the first round of funding for its online biofuels exchange, USBiofuelsExhange.com (the "US-BX"). This first funding was obtained from a group of investors, including petroleum and biofuels marketing veterans and petroleum and biofuels marketing companies. This funding assures the launch of the US-BX. "This type of industry support certainly bolsters our belief that the time for the US-BX is now," said Tom Gray, DMOI's newest director. "We are excited with the building momentum and look forward to announcing more developments in this important project."
About U.S. Equity News
U.S. Equity News provides information, resources and news services for investors of small-cap, micro-cap and emerging companies. U.S. Equity News distributes RSS news feeds and a free subscription-based newsletter available through its website at www.usequitynews.com.
U.S. Equity News is a financial news distribution service by Equity Solutions, Inc. (www.equityirsolutions.com) that provides a platform for public companies to disseminate important news to key Wall Street interest such as shareholders and new investors. Equity Solutions, Inc. can assist by providing an effective increase in the awareness of a public company's news, development and corporate story through its proprietary network and its financial portal. U.S. Equity News and its affiliates charge each client cash for news distribution and may take an equity position in the companies mentioned herein, please visit the disclaimer at www.USEquityNews.com.
