Ocean Energy announces record results
Ocean Energy, Inc. announced its best financial performance ever with 2000 net income of $228 million or $1.31 per diluted share, excluding special items, on revenues of $1.1 billion.
This represents more than a three-fold increase over 1999 net income of $53 million or $0.33 per diluted share, excluding special items.
Fourth quarter net income also reached record levels for the period with net income of $80 million or $0.46 per diluted share, excluding impairment of oil and gas properties in Yemen.
This compares to net income excluding special items of $44 million or $0.26 per diluted share for the fourth quarter of 1999.
© 2001 Mena Report (www.menareport.com)