Saturday, December 12, 2015

Houston Oil & Gas Company Gives Every Employee, Almost 1400 Of Them, A $100,000 Bonus

From the Houston Business Journal:

Houston energy company gives out $100,000 bonuses to all employees
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....MORE
“It’s just a true gift, and I think myself, along with everyone, is not going to give less than 100 percent each day,” receptionist Amanda Thompson told Fox 4 News in Houston.