| Business Summary | | National
Energy
Group,
Inc.
is
an
energy
company
engaged
in
the
acquisition,
exploration,
exploitation,
development
and
production
of
oil
and
natural
gas
properties
in
major
producing
basins
in
Texas,
Louisiana,
Oklahoma
and
Arkansas.
Historically,
the
Company
has
developed
and
exploited
existing
properties
by
drilling
Development
Wells,
and
recompleting
and
reworking
existing
wells.
The
Company
will
continue
its
drilling
operations
on
existing
properties,
and
will
selectively
participate
in
drilling
opportunities
generated
by
third
parties.
On
February
11,
1999,
the
Company
was
placed
under
protection
of
the
United
States
Bankruptcy
Court.
On
July
24,
2000,
the
Bankruptcy
Court
entered
a
subsequent
order
confirming
a
Plan
of
Reorganization
(the
Joint
Plan),
which
became
effective
on
August
4,
2000.
The
Bankruptcy
Court
maintains
jurisdiction
over
certain
administrative
matters
related
to
implementation
of
the
Joint
Plan. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | National
Energy
Group
is
engaged
in
the
acquisition,
development,
exploration
and
production
of
oil
and
natural
gas.
For
the
six
months
ended
6/30/01,
revenues
increased
16%
to
$26.7
million.
Net
income
before
extraordinary
item
decreased
57%
to
$4.3
million.
Revenues
benefitted
from
a
significant
increase
in
oil
and
natural
gas
prices.
Net
income
was
offset
by
increased
management
bonuses
and
the
absence
of
$866
thousand
in
earned
interest. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Bob Alexander, 67 Chairman,
Pres, CEO | $378K | Jim David, 61 VP,
Exploration and Exploitation, Director | 189K | Rick Kirby, 47 VP,
Drilling and Production | -- | R. Kent Lueders, 44 VP,
Corp. Devel. | 182K | Lori Mauk, 40 VP,
Product Marketing | -- | 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
|
|