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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.
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