(Source: MARKETWIRE)
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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