	coastal cgp sees increase in profits coastal corp said it expected earnings for to be significantly above profits of mln dlrs last year in a letter to shareholders appearing in the company s newly issued annual report coastal chairman oscar wyatt did not elaborate on how much earnings were expected to increase the profits of coastal a natural gas production and pipeline company were halved from levels due to slumping energy prices the company s sales totaled billion dlrs last year coastal also said it sold its natural gas for an average price of dlrs per mcf in a drop of pct from the previous year oil and natural gas liquids sold for an average dlrs a barrel in a reduction of pct the houston based company which produced a daily average of mln cubic feet of gas and barrels of oil said it had proved reserves at yearend of mln barrels of oil and billion cubic feet of natural gas average reserve replacement costs were dlrs per barrel of oil equivalent during the past three year period representing a little more than half of the industry average the company said coastal s more than gasoline retail outlets were operated profitably during and are expected to continue to do so the company said reuter 
