Williams posts profit, misses estimate
Thursday, August 4th 2005, 12:11 pm
By: News On 6
TULSA, Okla. (AP) _ Tulsa-based energy company Williams is reporting second quarter earnings of just more than 41 (m) million dollars, up from a loss of more than 18 (m) million during the second quarter last year.
The company says increased production and higher prices for natural gas plus reduced interest on its debt are the reasons for the turnaround.
Williams narrowly avoided bankruptcy in 2002 and began selling many assets so it could pay off debt and focus on its core business of finding, producing and transporting natural gas.