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Questar bumps up its numbers



By Upstream staff 

US natural gas producer Questar saw its net income for the fourth quarter increase 17% on rising production and higher commodities prices, but lowered its 2007 earnings view.

The Salt Lake City-based company reported fourth-quarter earnings of $121.5 million, or $1.39 a share, compared with $104.0 million, or $1.19 a share, in the year-ago period.

Questar lowered its 2007 earnings outlook citing significantly lower-than-forecast realised prices for natural gas and oil equivalent production in January and February this year.

In a statement, the company said it now expects 2007 earnings of $5.15 to $5.35 a share, excluding items, compared with its earlier forecast of $5.20 to $5.50 a share.

Questar raised its production outlook to 133 billion cubic feet of equivalent to 136 Bcfe for the year. It had earlier forecast production of 132 Bcfe to 135 Bcfe.


Tuesday, 13 February, 2007, 22:38 GMT  | last updated: Tuesday, 13 February, 2007, 22:38 GMT

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