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Record profits level off at oil companies

Three years into the U.S. oil boom, the record profits appear to be leveling off.
Oil prices are relatively flat. And increased drilling costs are cutting into the bottom line of many companies.
Financial performance of the U.S. oil companies has been mixed, said Pavel Molchanov, an analyst with Raymond James.
“In oil, it’s case by case,” he said this week. “The companies that have the much more significant growth were more natural gas focused.”
Because of shortages caused by the cold winter, U.S. natural gas prices averaged $5.20 per MMBtu in the first three ...

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