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 With the horrific attacks on September 11, a broad industrial recession and a series of business aftershocks felt all the way to Wall Street, 2001 was a traumatic and tumultuous year for us all. The durability of the American spirit has been severely tested and this nation responded with compassion blended with tenacity. EOG salutes this country’s courage!For 2001, EOG is reporting strong annual financial results. Also, EOG methodically continued to position itself for outstanding long-term performance. Our long-standing goal is to be the best –not necessarily the biggest – independent exploration and production company in North America. We define best in terms of delivering the highest shareholder appreciation measured by shareholder returns.
EOG is the only exploration and production company to rank in the top 20 of the S&P 500 for total shareholder equity appreciation for the combined two-year period, 2000-2001.Our second goal is to be the most profitable independent exploration and production company in terms of return on equity and return on capital employed. From 1996 to 2000, and again in 2001, these returns were substantially above the peer group average.For 2001, EOG reported excellent net income available to common of $387.6 million or $3.30 per share, compared with 2000 net income available to common of $385.9 million or $3.24 per share. At EOG, net income matters. It is our belief that net income and return on capital should be important determinants of stock price in the exploration and production sector, rather than just cash flow. We operate EOG based on that conviction.
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