Kerr-McGee reports 81 percent earnings increase
Wednesday, April 25th 2001, 12:00 am
By: News On 6
(Oklahoma City-AP) -- Oklahoma City-based Kerr-McGee says strong gas prices and exploration prospects helped the company post an 81 percent increase in first-quarter earnings.
Kerr-McGee is reporting net income of 335 (m) million dollars during the first-quarter of 2001, up from 185 (m) million last year.
Kerr-McGee chairman and C-E-O Luke Corbett says the company took advantage of its strong finances to pay off nearly one (b) billion dollars in debt.
Kerr-McGee is an energy and chemical company with operations around the world and assets of almost eight (b) billion dollars.