Thread regarding Chevron Corp. layoffs

Good times are not over...

Houston energy company gives out $100,000 bonuses to all employees

Nov 9, 2015, 9:12pm CST

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Olivia Pulsinelli, Senior web editor, Houston Business Journal

As several energy companies cut bonuses — and even jobs — amid the oil slump, one has rewarded employees with a hefty payout.

Houston-based Hilcorp Energy Co., a privately held oil and gas exploration and production company, gave every employee a bonus of $100,000 for making the company’s five-year goals earlier this year, the Houston Chronicle and Fortune magazine report.

The goals — to double Hilcorp’s oilfield production rate, net oil and gas reserves, and equity value over five years — had to be met by the end of 2015, but Hilcorp hit them in the spring, according to the Chronicle. The $100,000 was prorated based on time of service over the past five years, but employees of all job levels and titles were eligible for the bonus, the Chronicle reports.

Back in 2010, every employee received a $50,000 car or $35,000 in cash for reaching the previous five-year goals, according to Fortune, which named the company one of the "Best Workplaces for Diversity" for 2015. Over the summer, Fortune named Hilcorp one of the "Best Workplaces for Millennials," and the company ranked No. 20 on Fortune's overall "Best Companies to Work For" list.

Hilcorp has about 1,400 employees, including 439 in Houston, according to the reports. The company is building a roughly 500,000-square-foot tower at 1111 Travis that will serve as its headquarters. However, CEO and billionaire Jeffrey Hildebrand has been tight-lipped about the project, which is on the site of the former downtown Macy's that was imploded in September 2013 to make way for the new building.

Hilcorp isn't the only energy company doling out noteworthy bonuses lately. Paragon Offshore PLC (NYSE: PGN) offered some of its top executives an extra year's worth of salary to stay with the company for at least a year.

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Hillcorp is a land company more so than an oil company. Their business model is to buy the scraps from the majors, get the reservoir engineers to make them look good with some strategic drilling and/or EOR, and then flip them. Founded by a very successful oil well flipper Jeff Hildebrand.

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OP - how to you get to post the entire article with line breaks ?

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I pity their employes who quit in November. That would suck...

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Yeah, folks, that's assuming you even get a bonus next year. More than likely, your bonus will go to the idiotic shareholder dividend. The CEO would rather support his image than maintain his company. Enjoy your breakfast tacos, boys and girls...

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Good point. It is prorated over 5 years of service.

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The $100,000 is prorated to your service the past five years. Meh. I'd rather get $20,000 every year bonus rather than wait five years hoping to get teh $100,000.

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Hilcorp is one of the largest, privately-held exploration and production companies in the United States. Visit their webpage at Hilcorp.com.

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What are they all about (Hilcorp)? What do they do so?

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Yes, Hilcorp paid every employee $100k a bonus this year, no matter their pat grade. Just wait until the tide turns for Hilcorp one day (and it will). Those employees will be decrying a different tune.

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Puts Chevron to shame.

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OP - go away

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Fortune named Hilcorp one of the "Best Workplaces for Millennials," and the company ranked No. 20 on Fortune's overall "Best Companies to Work For" list.

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What does that have to do with Chevron, troll?

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The way I read this they have 100K to each employee, am I missing something?

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Not ALL employees. Let me assure you not every employee gets $100k in bonuses, much less salary.

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A travesty

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