COASTAL (CGP) SEES INCREASE IN 1987 PROFITS Coastal Corp said it expected earnings for 1987 "to be significantly above" profits of 71.6 mln dlrs last year. In a letter to shareholders appearing in the company's newly-issued 1986 annual report, Coastal chairman Oscar Wyatt did not elaborate on how much earnings were expected to increase. The 1986 profits of Coastal, a natural gas production and pipeline company, were halved from 1985 levels due to slumping energy prices. The company's sales totaled 6.7 billion dlrs last year. Coastal also said it sold its natural gas for an average price of 2.17 dlrs per mcf in 1986, a drop of 18 pct from the previous year. Oil and natural gas liquids sold for an average 14.20 dlrs a barrel in 1986, a reduction of 37 pct. The Houston-based company, which produced a daily average of 120 mln cubic feet of gas and 11,149 barrels of oil, said it had proved reserves at yearend 1986 of 28.6 mln barrels of oil and 954 billion cubic feet of natural gas. Average reserve replacement costs were 8.28 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 800 gasoline retail outlets were operated profitably during 1986 "and are expected to continue to do so," the company said.