EOG racks up the millions
Enron offspring walks tall
EOG Resources racked up record fourth-quarter and full-year 2000 profits of $158.7 million and $385.9 million respectively.
Comparable results in 1999, adjusted to exclude operations in India and China transferred to Enron Corporation and various non-recurring items, were $29.9 million and $57.6 million respectively.
During the fourth quarter 2000, total company production increased 11.1% versus the same quarter a year ago with natural gas output up 7.6%, crude 35.1% and natural gas liquids 7.9%.
Combined with record natural gas prices, our strong 2000 results reflect our success in delivering on EOG's long-term strategy of being natural gas based and rate-of-return driven, said chairman and chief executive Mark Papa.