| Business Summary | | 3TEC
Energy
is
engaged
in
the
acquisition,
development,
production
and
exploration
of
oil
and
natural
gas
reserves.
Its
properties
are
concentrated
in
East
Texas
and
the
Gulf
Coast
region,
both
onshore
and
in
the
shallow
waters
of
the
Gulf
of
Mexico.
The
Company
also
owns
significant
properties
in
the
Permian
and
San
Juan
basins
and
in
the
mid-continent
region.
As
of
December
31,
2000,
the
Company
had
estimated
total
net
proved
reserves
of
302
Bcfe
(billion
cubic
feet
equivalent),
of
which
approximately
79%
were
natural
gas
and
approximately
78%
were
proved
developed.
During
December
2000,
its
net
daily
production
averaged
approximately
63.9
Mmcf
(million
cubic
feet)
of
natural
gas
and
2.9
MBbls
(thousand
barrels)
of
oil
or
81.3
Mmcfe
(million
cubic
feet
equivalent). | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | 3TEC
Energy
Corporation
is
an
independent
oil
and
gas
company
engaged
in
the
acquisition,
development
and
production
of
oil
and
gas
in
the
contiguous
United
States.
For
the
six
months
ended
6/30/01,
revenues
totaled
$92.9
million,
up
from
$39.7
million.
Net
income
applicable
to
Common
totaled
$32.9
million,
up
from
$7.4
million.
Results
benefitted
from
higher
commodities
prices,
acquisitions,
and
a
decrease
in
lease
operating
expense. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Floyd Wilson, 54 Chairman,
CEO | $832K | R. Walker, 44 Pres,
CFO, Director | 490K | Stephen Herod, 42 Exec.
VP- corporate development, Assistant Sec., Director | 310K | C. Hackstedt, 51 VP-
Engineering and Operations | -- | Shane Bayless, 34 VP,
Controller, Treasurer | -- | 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
|
|