| Business Summary | | Nuevo
Energy
Company
is
primarily
engaged
in
the
exploration
for,
and
the
acquisition,
exploitation,
development
and
production
of
crude
oil
and
natural
gas.
The
Company
accumulates
oil
and
gas
reserves
through
the
drilling
of
exploratory
wells
on
acreage
owned
by
or
leased
to
the
Company,
or
through
the
purchase
of
reserves
from
others.
Nuevo
maximizes
production
from
these
reserves
through
the
drilling
of
developmental
wells
and
through
other
exploitative
techniques.
The
Company
also
owns
and
operates
gas
plants
and
other
facilities,
which
are
ancillary
to
the
primary
business
of
producing
oil
and
natural
gas.
The
Company
also
owns
certain
surface
real
estate
parcels
in
California
that
are
candidates
for
sale
and/or
development
in
future
years. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | NEV
explores,
acquires,
develops
and
produces
crude
oil
and
natural
gas.
NEV
also
operates
gas
plants,
pipeline
facilities
and
oilfield
assets.
For
the
six
months
ended
6/30/01,
revenues
rose
55%
to
$218.2
million.
Net
income
before
accounting
change
totaled
$12.3
million
vs.
a
loss
of
$435
thousand.
Revenues
reflect
an
increase
in
realized
gas
and
oil
prices.
Net
income
also
reflects
decreased
lease
operating
and
exploration
expenses
as
a
percentage
of
revenues. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Isaac Arnold, Jr., 65 Chairman | -- | Phillip Gobe, 48 Interim
Pres and CEO, Chief Operating Officer | -- | Robert King, 40 Sr.
VP and CFO | $285K | Bruce Murchinson, 51 VP
and Gen. Counsel | 248K | Dennis Hammond, 45 VP
- Engineering Exploitation | 252K | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|