The Company: VeraSun Energy, one of the nation’s largest ethanol producers. The Filing: Form 10-Q filed with the SEC on August 11, 2008. The Finding: Net sales from ethanol increased $710.4 million, or 499 percent, to $852.7 million for the second-quarter ended June 30, driven by additional production from new capacity and higher ethanol prices. Nonetheless, escalating prices of corn and...
Energy Industry Archive
August 2008
The Company: Rentech, a provider of clean synthetic fuel solutions. The Filing: Form 10-Q filed with the SEC on August 11, 2008. The Finding: Rentech said it lost $54 million in the nine-month period ended June 30, much of it due to R&D expenses, However, the coal-to-liquid fuel company is finally producing liquid synthetic fuel at its $45 million Product Demonstration Unit (PDU) in...
The Company: EXCO Resources, an independent energy producer focused primarily on onshore natural gas properties in the United States. The Filing: Form 10-Q filed with the SEC on August 8, 2008 The Finding: The process of digging fossil fuels out of the ground is getting more expensive. EXCO Resources said drilling and development capital expenditures alone increased almost 34 percent to $136...
The Company: Quicksilver Resources, a Fort Worth, Texas, natural gas producer The Filing: Form 10-Q filed with the SEC on August 6, 2008 The Finding: Quicksilver Resources is demonstrating the success to be found via the drill bit on the Barnett Shale Formation near Fort Worth, Texas. Production volumes of natural gas and natural gas liquids in Barnett Basin grew by 120 percent for the second...
The Company: Ocean Power Technologies, a renewable energy company specializing in offshore wave power technology The Filing: Form 10-K filed with the SEC on July 14 The Finding: Ocean Power is struggling to gain commercial acceptance for its proprietary PowerBuoy wave generation system, which extracts the natural energy in ocean waves, converting it into usable electrical power for...
The Company: Marathon Oil, the fourth-largest U.S. integrated oil company The Filing: Form 8-K filing with the SEC on July 31 The Finding: Even though revenue rose almost 32 percent in the second-quarter ended June 30 to $22.2 billion, Marathon Oil said its net income declined 50 percent to $774 million, or $1.08 a share, hurt by lower refining and marketing margins. Management is considering...
The Company: First Solar, the largest manufacturer of thin film photovoltaic solar modules. The Filing: Form 10-Q filed with the SEC on July 31. The Finding: First Solar reported net income year-over-year rose 57 percent to $69.7 million, as higher-than-expected production from a new plant in Kulim, Malaysia and yield and efficiency improvements helped it meet surging demand. The company,...
The Company: ENSCO International, a global offshore oil and gas-drilling contractor The Filing: Form 10-Q filed with the SEC on July 24, 2008 The Finding: Ensco reported another record quarter with net income up 17 percent year-on-year to $297 million, reflecting higher day rates and improved utilization. With the planned expansion of its active deepwater rig fleet commencing in 2009,...
As investment dollars continue to flow into cleantech, some entrepreneurs and their backers are starting to confront a new problem: Navigating a complex and unfamiliar patent terrain. Because so much of the technology in cleantech involves multiple scientific and engineering disciplines — and because it can take a decade or more to generate substantial sales in the highly regulated energy...
The Company: Exxon-Mobil, the world’s largest oil and gas company The Filing: Form 8-K filing with the SEC on July 31 The Finding: ExxonMobil announced record net income of $11.7 billion in the second quarter, up 14 percent from last year, due to record-high oil prices. Management said it is investing billions to bring new supplies to the market, yet aggregate oil and gas production...
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