OGJ300; Smaller list, bigger financial totals

Journal Article · Mon Sep 30 04:00:00 EDT 1991 · Oil and Gas Journal; (United States)

OSTI ID:5676265

Beck, R J; Biggs, J B

This paper reports on Oil and Gas Journal's list of the largest, publicly traded oil and gas producing companies in the U.S. which is both smaller and larger this year than it was in 1990. It's smaller because it covers fewer companies. Industry consolidation has slashed the number of public companies. As a result, the former OGJ400 has become the OGJ300, which includes the 30 largest limited partnerships. But the assets-ranked list is larger because important financial totals - representing 1990 results - are significantly higher than those of a year ago, despite the lower number of companies. Consolidation of the U.S. producing industry gained momentum throughout the 1980s. Unable to sustain profitability in a period of sluggish energy prices and, for many, rising costs, companies sought relief through mergers or liquidation of producing properties. As this year's list shows, however, surviving companies have managed to grow. Assets for the OGJ300 group totaled $499.3 billion in 1990 - up 6.3% from the 1989 total of last year's OGJ400. Stockholders' equity moved up 5.3% to $170.7 billion. Stockholders' equity was as high as $233.8 billion in 1983.

• OSTI ID: 5676265
• Journal Information: Oil and Gas Journal; (United States), Journal Name: Oil and Gas Journal; (United States) Vol. 89:39; ISSN OIGJA; ISSN 0030-1388
• Country of Publication: United States
• Language: English

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