Jane Van Ryan
Posted November 6, 2009
Eighteen oil and natural gas companies had reported their third quarter 2009 earnings
as of yesterday afternoon, and the results have been a mixed bag. Companies that focus on oil and natural gas production--also called the upstream sector of the business--experienced a better financial quarter than large integrated companies that have both upstream and downstream operations--refining and marketing. The companies that fared worst are in the downstream portion of the business, and some of them actually lost money.