Energy delivery company CenterPoint Energy Inc. (CNP) today posted net earnings of 31 cents per share, in line with Zacks Consensus Estimate of 31 cents and lower than last year’s earnings of 39 cents. The company’s core regulated operations reported strong earnings results during the quarter despite the economic downturn. Net revenues in the quarter increased 60% over a year ago to $2,515 million, driven by revenue increases at the natural gas distribution and competitive natural gas sales & services businesses. Operating income reported in the quarter was down 15% year-over-year to $287 million, due to lower natural gas and natural gas liquids prices, a decline in natural gas throughput from the traditional basins and reduced basis differentials. Operating income at CenterPoint’s electric transmission & distribution segment improved 8% over last year to $218 million, consisting of $187 million from the regulated electric transmission & distribution ...

Walter Energy Inc. (WLT) posted third quarter earnings of 45 cents per share, substantially higher than the Zacks Consensus Estimate of 27 cents per share and second quarter earnings of 21 cents per share. The better-than-expected results were driven by strong customer demand resulting in record coking coal sales volumes.  However, earnings were lower compared to $1.26 per share posted a year ago. Net sales and revenues for the quarter declined 10% to $278.3 million compared to a year ago, and operating income totaled $42.4 million, down $67.2 million from a year ago. Both net sales and revenues and operating income were negatively impacted by lower coke sales as well as lower realized prices for coking coal compared to last year's all-time highs.  However, sales and revenues increased sequentially on improved coking coal sales volumes. Coking coal sales volumes increased 35.7% to 1.9 million tons in ...

Earlier today, Texas-based energy producer Cano Petroleum Inc. (CFW) announced its merger with independent oil and gas development and production company Resaca Exploitation Inc. in a tax-free stock-for-stock deal. The merged entity will operate under the Resaca name. The transaction is currently awaiting regulatory and shareholder approval and is expected to close within three to five months. The current stockholders of Cano will own approximately 50% of the combined company, with Resaca shareholders owning the rest.  Under the terms of the agreement, Cano investors will exchange each of their shares for 2.1 shares of Resaca common stock. Based on Resaca’s pre-announcement closing price, the deal implies total consideration to Cano shareholders of $76 million or $1.67 per Cano share and $3.34 per proved barrel of oil equivalent. The merged entity will have its corporate offices in Houston, where Resaca is currently located (Cano is headquartered in Fort

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Earlier today, Texas-based energy producer Cano Petroleum Inc. (CFW) announced its merger with independent oil and gas development and production company Resaca Exploitation Inc. in a tax-free stock-for-stock deal. The merged entity will operate under the Resaca name. The transaction is currently awaiting regulatory and shareholder approval and is expected to close within three to five months. The current stockholders of Cano will own approximately 50% of the combined company, with Resaca shareholders owning the rest.  Under the terms of the agreement, Cano investors will exchange each of their shares for 2.1 shares of Resaca common stock. Based on Resaca’s pre-announcement closing price, the deal implies total consideration to Cano shareholders of $76 million or $1.67 per Cano share and $3.34 per proved barrel of oil equivalent. The merged entity will have its corporate offices in Houston, where Resaca is currently located (Cano is headquartered in Fort

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Earlier today, Texas-based energy producer Cano Petroleum Inc. (CFW) announced its merger with independent oil and gas development and production company Resaca Exploitation Inc. in a tax-free stock-for-stock deal. The merged entity will operate under the Resaca name. The transaction is currently awaiting regulatory and shareholder approval and is expected to close within three to five months. The current stockholders of Cano will own approximately 50% of the combined company, with Resaca shareholders owning the rest.  Under the terms of the agreement, Cano investors will exchange each of their shares for 2.1 shares of Resaca common stock. Based on Resaca’s pre-announcement closing price, the deal implies total consideration to Cano shareholders of $76 million or $1.67 per Cano share and $3.34 per proved barrel of oil equivalent. The merged entity will have its corporate offices in Houston, where Resaca is currently located (Cano is headquartered in Fort

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Energtek, Inc. is a leader in the development and commercialization of Adsorbed Natural Gas (ANG) technology. They develop technologies that deliver natural gas from any natural gas source to consumers even when no gas pipeline and compressing infrastructure is in place. Trading on NASDAQ’s OTCBB, Energtek Inc. (EGTK) has their corporate headquarters in Valley Stream, New York. Founded in 1998, Energtek operates in the United States, Asia, Europe, and the Middle East.

Energtek utilizes proprietary, low-pressure storage technology to provide this “well-to-wheel pipeless natural gas supply” solution. They provide these solutions for fleets of small vehicles and industrial consumers. Adsorbed Natural Gas (ANG) technology enables hi-tech and cost-effective storage of Natural Gas (NG) by maximizing the quantities of gas stored in a tank. Adsorption lessens the infrastructure, fueling, and energy costs when it comes to supplying consumers where there are no gas pipeline feeds or refueling infrastructure in place.

Adsorption

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