Dominion 3Q12 Update: Profits Down from Warm 2012 Winter
Dominion is a huge utility and midstream (pipeline) company with customers and operations throughout the Marcellus and Utica Shale region. Yesterday Dominion issued their third quarter financials and it was not a pretty picture. Earnings for 3Q12 were down nearly half of what they were from 3Q11. Ouch. The reason? Dominion puts a lot of the blame on a hangover from a warm winter.
There’s not much in the way comment on their activities in the Marcellus in their statement below (they do mention the new Natrium, WV plant and a few other items). MDN includes their 3Q12 financial update because they are an important player in the Marcellus and Utica Shale and the overall health of the company is important to the industry.