Baltimore-Based Constellation Energy’s Profit Nearly Doubles
Constellation Energy Partners LLC, an oil and gas producer created by Baltimore-based Constellation Energy Group, the largest U.S. power marketer, reported third-quarter net income of $6.9 million, or 37 cents per diluted share, on revenue of $26.2 million, versus net income of $3.5 million, or 31 cents per diluted share, on revenue of $8.5 million for the year-ago period. The company said it increased production 165 percent during the quarter, due to successful drilling programs and the addition of coalbed properties in Oklahoma’s Cherokee Basin. Gas sales for the 2007 period rose 175 percent, the company said.
Originally published by The Daily Record Staff.
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