Eagle Energy considers staff reductions, cutting CEO pay

Eagle Energy Inc., Calgary, plans to accelerate cuts in general and administrative expenses in response to weaker crude oil prices.

The cost reductions, which target office and overhead as well as corporate travel, include a review of all employee and board compensation and potential staff reductions.

As a first step, Eagle within the next 60 days plans to lower executive compensation, including that of Chief Executive Officer Richard W. Clark.

Eagle’s capital and operating budget for 2017 assumed an average West Texas Intermediate price of $55.46/bbl.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...