Gulf Island Fabrication, Inc. to Announce Earnings Results and Quarterly Conference Call

Gulf Island Fabrication, Inc. (NASDAQ: GIFI – News), will announce 2009 fourth quarter earnings after the market close on Thursday, February 25, 2010.

The management of Gulf Island Fabrication, Inc. will hold a conference call on Friday, February 26, 2010, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time) to discuss the Company financial results for the quarter ended December 31, 2009. [Read the full article]

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A strong report from the largest U.S.-listed Canadian energy trust lifted the segment on Thursday.

Canadian energy trusts are trading higher today after Penn West Energy Trust (NYSE: PWE – News) announced a net loss of -C$12 million or -3 Canadian cents per basic unit in the fourth quarter ended December 31. According to the press release the decline in net income was the result of “unrealized risk management losses.” Gross revenues fell by -15% year-over-year, but have now posted three straight sequential quarterly gains. Penn West’s fourth-quarter production was 170,164 BOE per day, of which 60% was oil and 40% was natural gas, according to the company’s report.

Pride International Inc. on Thursday reported a fourth quarter loss as the offshore drilling contractor set aside $56.2 million to potentially resolve allegations that it made improper payments to foreign government officials.

Pride, based in Houston, had said earlier that it had built the reserve in anticipation of a possible settlement with the Department of Justice and the Securities and Exchange Commission. The company voluntarily disclosed to the agencies in 2006 information relating to initial allegations of improper payments to foreign government officials.

The company said it has cooperated with the investigation and that the amount set aside is its best estimate of potential fines and other costs.

Pride lost $32.8 million, or 19 cents per share, for the quarter ended Dec. 31 that included a loss of $9.6 million, or 6 cents per share, for discontinued operations. [Read the full article]

The Wall Street Transcript has recently published its Oil & Gas Production and Distribution Report offering a timely review of the sector to serious investors and industry executives. This 76 page feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: Master Limited Partnerships – MLPs v. The Broader Market – Canadian Pipeline – Natural Gas Growth – The Integrated Gas Space – Rebound in MLP Prices – Appeal for Long-Term Investors – Natural Gas-Fueled Transportation – Decrease in Marginal Cost of Production

Companies include: EOG Resources (EOG); Energy Transfer Partners (ETP); Lion Energy Corp. [Read the full article]

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