Energy services provider Duncan Energy Partners LP's (DEP.N: Quote, Profile, Research, Stock Buzz) first-quarter profit jumped 50 percent, helped by higher natural gas volumes and lower operating costs.
For the quarter, the company reported net income of $19.9 million, or 34 cents per common unit, compared with $13.3 million, or 29 cents per common unit, a year earlier.
Revenue at the Houston-based company fell 29 percent to $256.8 million.
While total natural gas volumes rose 13 percent to 5.1 trillion british thermal units per day, total operating costs and expenses dropped 29 percent to $242.2 million.
Shares of the company closed at $17.44 Friday on the New York Stock Exchange.
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