Luke R Corbett News

Kerr-McGee Corp. reported second-quarter 2001 net income of $175 million ($1.71 per diluted share). This compares with income before special items of $217 million ($2.13 per share) and net income of $110 million ($1.11 per share) in the same prior-year quarter. The 2000 quarter included $107 million ($1.02 per share) in special charges. No special charges were recorded in the 2001 quarter. "Kerr-McGee continued to generate strong earnings and cash flow per share during the second quarter while taking steps to further strengthen and balance its portfolio of assets," said Luke R. Corbett, Kerr-McGee chairman and chief executive officer. "We have supplemented our drilling success with the announced agreement to acquire HS Resources, a core U.S. onshore gas asset.