Enron Oil & Gas reports financial results 1996

Jan 20, 1997 01:00 AM

Enron Oil & Gas (EOG) has reported 1996 net income of $ 140.0 mm, compared to net income of $ 142.1 mm for 1995. Discretionary cash flow increased to $ 543.3 mm in 1996 compared to $ 524.8 mm in 1995. Net operating revenues increased to $ 730.6 mm in 1996 compared to $ 648.7 mm in 1995. EOG also reported total proven reserves of 4.006 tcf of natural gas equivalent at year-end 1996, up 10 % compared to 3.645 tcf at year-end 1995, both net to EOG. Wellhead revenues increased by 48 % to $ 699.4 mm in 1996, reflecting increased delivered volumes and higher average prices for all product categories including natural gas, crude oil and condensate and natural gas liquids. Total natural gas deliveries averaged 830 mm cubic feet per day (mmcfpd) in 1996, up 12 % compared to 743 mmcfpd in 1995. EOG North America wellhead natural gas delivered volumes averaged 706 mmcfpd during 1996, up 11 % compared to 636 mmcfpd in 1995.

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