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Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
Pay Versus Performance
 
The following table sets forth the compensation for our Chief Executive Officer, referred to as Principal Executive Officer (PEO) in the disclosure below, and the average compensation for our other named executive officers
(Non-PEO),
both as reported in the Summary Compensation Table on page 37, and with certain adjustments to reflect the “compensation actually paid” to such individuals, as defined under SEC rules, for each of 2024, 2023, 2022, 2021 and 2020. The table also provides information on our cumulative TSR, the cumulative TSR of our peer group, Net Income and Return on Average Capital Employed over such years in accordance with SEC rules.
 
 
Pay Versus Performance
                   
 
Value of Initial Fixed $100
Investment Based On:
 
        
Year
 (a)
  
Summary
Compensation
Table Total for
PEO
1

($) (b)
  
Compensation
Actually Paid
to PEO
2

($) (c)
  
Average
Summary
Compensation
Table Total for
Non-PEO

Named
Executive
Officers
1

($) (d)
  
Average
Compensation
Actually Paid
to
Non-PEO

Named
Executive
Officers
2

($) (e)
  
Total
Shareholder
Return
3

($) (f)
  
Peer Group
Total
Shareholder
Return
3

($) (g)
  
Net Income
(in Thousands)
4

($) (h)
  
Return

on  
Average  
Capital  
Employed
5
  
(%) (i)  
2024
       10,376,263       2,332,583       3,681,969         3,965,381       131.19       181.25          407,171       23.1 %  
2023
       13,261,841       11,808,393       3,662,369        1,071,009       179.22       191.57          661,559       28.3 %
2022
       13,444,418       39,752,198       3,741,335        8,083,159       175.84       191.50          965,047       31.4 %
2021
       11,381,012       26,071,102       3,111,741        8,330,184       104.46       120.82       (73,664 )       16.9 %
2020
       13,180,178       (5,712,287 )       4,065,562       (1,804,274 )        47.21       64.58       (1,148,777 )       10.3 %
 
1.
Compensation for our PEO, Roger W. Jenkins, reflects the amounts reported in the “Summary Compensation Table” for the respective years. Average compensation for
non-PEOs
includes the following named executive officers: (i) in 2024, Thomas J. Mireles, Eric M. Hambly, E. Ted Botner and Daniel R. Hanchera (ii) in 2023, Thomas J. Mireles, Eric M. Hambly, E. Ted Botner and Daniel R. Hanchera (iii) in 2022, Thomas J. Mireles, Eric M. Hambly, E. Ted Botner, Daniel R. Hanchera and David R. Looney, (iv) in 2021, David R. Looney, Eric M. Hambly, E. Ted Botner and Thomas J. Mireles and (v) in 2020, David R. Looney, Eric M. Hambly, E. Ted Botner, Thomas J. Mireles, Michael K. McFadyen and Walter K. Compton.
 
2.
Compensation “actually paid” for the PEO and average compensation “actually paid” for our
non-PEOs
for 2024 reflects the respective amounts set forth in columns (b) and (d) of the table above, adjusted as set forth in the table below, as determined in accordance with SEC rules (Item 402(v) of Regulation
S-K).
The dollar amounts reflected in columns (b) and (d) of the table above do not reflect the actual amount of compensation earned by or paid to the PEO and our
non-PEOs
during the applicable year. For information regarding the decisions made by our Compensation Committee in regards to the PEO’s and our
non-PEOs
compensation for fiscal year 2024, see “Compensation Discussion and Analysis” above.
 
     
    
PEO 2024
  
Non-PEOs

2024
Summary Compensation Table Total
    
 
10,376,263
      
 
3,681,969
  
Less
Stock Award Value Reported in Summary Compensation Table for the Covered Year
       (7,427,304 )       (2,159,209 )
Plus
Fair Value for Awards Granted in the Covered Year
       7,068,012       2,047,692
Change
in Fair Value of Outstanding Unvested Awards from Prior Years
       (6,789,724 )       (1,663,476 )
Change
in Fair Value of Awards from Prior Years that Vested in the Covered Year
       (2,280,313 )       2,076,382
Less
Fair Value of Awards Forfeited during the Covered Year
       —        — 
Plus
Fair Value of Incremental Dividends or Earnings Paid on Stock Awards
       1,051,741       262,988
Less
Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans
       —       (355,461 )
Plus
Aggregate Service Cost and Prior Service Cost for Pension Plans
       333,908       74,496
Compensation Actually Paid
    
 
2,332,583
      
 
3,965,381
  
 
 
Fair values of equity awards set forth in the table above are computed in accordance with FASB ASC Topic 718 as of the end of the respective fiscal year, other than fair values of
equity
awards that vest in the covered year, which are valued as of the applicable vesting date.
 
 
 
 
 
 
The aggregate change in actuarial present value of accumulated benefit under pension plans reflects the amount reported for the applicable year in the Summary Compensation Table.
Service
cost is calculated as the actuarial present value of benefits under all pension plans attributable to services rendered during the applicable fiscal year. Prior service cost is calculated as the entire cost of benefits granted (or credit for benefits reduced) in a plan amendment (or initiation) during the covered fiscal year that are attributable by the benefit formula to services rendered in periods prior to the applicable amendment.
 
3.
TSR is cumulative for the measurement periods beginning on December 31, 2019 and ending on December 31 of each of 2024, 2023, 2022, 2021 and 2020, respectively, calculated in accordance with Item 201(e) of Regulation
S-K.
The peer group for purposes of this table is the S&P Oil & Gas Exploration & Production Select Industry Index (XOP), which is the same peer group as for the Shareholder Return Performance Presentation of the 2024 Form
10-K
for the year ended December 31, 2024.
 
4.
Reflects “Net Income” in the Company’s Consolidated Statements of Income included in the Company’s Annual Reports on Form
10-K
for each of the years ended December 31, 2024, 2023, 2022, 2021 and 2020.
 
5.
The following table sets forth an unranked list of the performance measures which we view as the “most important” measures for linking our named executive officers’ compensation actually paid to Company performance, as specifically listed below. For additional details on how these measures are utilized in our compensation program to link pay with performance, see “Compensation Discussion and Analysis” above.
       
Company Selected Measure Name Return on Average Capital Employed        
Named Executive Officers, Footnote
1.
Compensation for our PEO, Roger W. Jenkins, reflects the amounts reported in the “Summary Compensation Table” for the respective years. Average compensation for
non-PEOs
includes the following named executive officers: (i) in 2024, Thomas J. Mireles, Eric M. Hambly, E. Ted Botner and Daniel R. Hanchera (ii) in 2023, Thomas J. Mireles, Eric M. Hambly, E. Ted Botner and Daniel R. Hanchera (iii) in 2022, Thomas J. Mireles, Eric M. Hambly, E. Ted Botner, Daniel R. Hanchera and David R. Looney, (iv) in 2021, David R. Looney, Eric M. Hambly, E. Ted Botner and Thomas J. Mireles and (v) in 2020, David R. Looney, Eric M. Hambly, E. Ted Botner, Thomas J. Mireles, Michael K. McFadyen and Walter K. Compton.
       
Peer Group Issuers, Footnote
3.
TSR is cumulative for the measurement periods beginning on December 31, 2019 and ending on December 31 of each of 2024, 2023, 2022, 2021 and 2020, respectively, calculated in accordance with Item 201(e) of Regulation
S-K.
The peer group for purposes of this table is the S&P Oil & Gas Exploration & Production Select Industry Index (XOP), which is the same peer group as for the Shareholder Return Performance Presentation of the 2024 Form
10-K
for the year ended December 31, 2024.
       
PEO Total Compensation Amount $ 10,376,263 $ 13,261,841 $ 13,444,418 $ 11,381,012 $ 13,180,178
PEO Actually Paid Compensation Amount $ 2,332,583 11,808,393 39,752,198 26,071,102 (5,712,287)
Adjustment To PEO Compensation, Footnote
2.
Compensation “actually paid” for the PEO and average compensation “actually paid” for our
non-PEOs
for 2024 reflects the respective amounts set forth in columns (b) and (d) of the table above, adjusted as set forth in the table below, as determined in accordance with SEC rules (Item 402(v) of Regulation
S-K).
The dollar amounts reflected in columns (b) and (d) of the table above do not reflect the actual amount of compensation earned by or paid to the PEO and our
non-PEOs
during the applicable year. For information regarding the decisions made by our Compensation Committee in regards to the PEO’s and our
non-PEOs
compensation for fiscal year 2024, see “Compensation Discussion and Analysis” above.
 
     
    
PEO 2024
  
Non-PEOs

2024
Summary Compensation Table Total
    
 
10,376,263
      
 
3,681,969
  
Less
Stock Award Value Reported in Summary Compensation Table for the Covered Year
       (7,427,304 )       (2,159,209 )
Plus
Fair Value for Awards Granted in the Covered Year
       7,068,012       2,047,692
Change
in Fair Value of Outstanding Unvested Awards from Prior Years
       (6,789,724 )       (1,663,476 )
Change
in Fair Value of Awards from Prior Years that Vested in the Covered Year
       (2,280,313 )       2,076,382
Less
Fair Value of Awards Forfeited during the Covered Year
       —        — 
Plus
Fair Value of Incremental Dividends or Earnings Paid on Stock Awards
       1,051,741       262,988
Less
Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans
       —       (355,461 )
Plus
Aggregate Service Cost and Prior Service Cost for Pension Plans
       333,908       74,496
Compensation Actually Paid
    
 
2,332,583
      
 
3,965,381
  
        
Non-PEO NEO Average Total Compensation Amount $ 3,681,969 3,662,369 3,741,335 3,111,741 4,065,562
Non-PEO NEO Average Compensation Actually Paid Amount $ 3,965,381 1,071,009 8,083,159 8,330,184 (1,804,274)
Adjustment to Non-PEO NEO Compensation Footnote
2.
Compensation “actually paid” for the PEO and average compensation “actually paid” for our
non-PEOs
for 2024 reflects the respective amounts set forth in columns (b) and (d) of the table above, adjusted as set forth in the table below, as determined in accordance with SEC rules (Item 402(v) of Regulation
S-K).
The dollar amounts reflected in columns (b) and (d) of the table above do not reflect the actual amount of compensation earned by or paid to the PEO and our
non-PEOs
during the applicable year. For information regarding the decisions made by our Compensation Committee in regards to the PEO’s and our
non-PEOs
compensation for fiscal year 2024, see “Compensation Discussion and Analysis” above.
 
     
    
PEO 2024
  
Non-PEOs

2024
Summary Compensation Table Total
    
 
10,376,263
      
 
3,681,969
  
Less
Stock Award Value Reported in Summary Compensation Table for the Covered Year
       (7,427,304 )       (2,159,209 )
Plus
Fair Value for Awards Granted in the Covered Year
       7,068,012       2,047,692
Change
in Fair Value of Outstanding Unvested Awards from Prior Years
       (6,789,724 )       (1,663,476 )
Change
in Fair Value of Awards from Prior Years that Vested in the Covered Year
       (2,280,313 )       2,076,382
Less
Fair Value of Awards Forfeited during the Covered Year
       —        — 
Plus
Fair Value of Incremental Dividends or Earnings Paid on Stock Awards
       1,051,741       262,988
Less
Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans
       —       (355,461 )
Plus
Aggregate Service Cost and Prior Service Cost for Pension Plans
       333,908       74,496
Compensation Actually Paid
    
 
2,332,583
      
 
3,965,381
  
        
Compensation Actually Paid vs. Total Shareholder Return LOGO        
Compensation Actually Paid vs. Net Income LOGO        
Compensation Actually Paid vs. Company Selected Measure LOGO        
Total Shareholder Return Vs Peer Group LOGO        
Tabular List, Table
  
  
  Performance Measure
 
 
ROACE (EBITDA / ACE)
 
 
AIP Free Cash Flow ($MM)
 
 
Lifting Costs plus G&A
 
 
TRIR
 
 
Spill Rate
 
 
GHG Emissions Intensity (metric ton CO
2
e per MMBOE)
 
 
Sustainability Basket
        
Total Shareholder Return Amount $ 131.19 179.22 175.84 104.46 47.21
Peer Group Total Shareholder Return Amount 181.25 191.57 191.5 120.82 64.58
Net Income (Loss) $ 407,171,000 $ 661,559,000 $ 965,047,000 $ (73,664,000) $ (1,148,777,000)
Company Selected Measure Amount 23.1 28.3 31.4 16.9 10.3
PEO Name Roger W. Jenkins        
Measure:: 1          
Pay vs Performance Disclosure          
Name ROACE (EBITDA / ACE)        
Measure:: 2          
Pay vs Performance Disclosure          
Name AIP Free Cash Flow ($MM)        
Measure:: 3          
Pay vs Performance Disclosure          
Name Lifting Costs plus G&A        
Measure:: 4          
Pay vs Performance Disclosure          
Name TRIR        
Measure:: 5          
Pay vs Performance Disclosure          
Name Spill Rate        
Measure:: 6          
Pay vs Performance Disclosure          
Name GHG Emissions Intensity (metric ton CO2e per MMBOE)        
Measure:: 7          
Pay vs Performance Disclosure          
Name Sustainability Basket        
PEO | Aggregate Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 333,908        
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (7,427,304)        
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 7,068,012        
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (6,789,724)        
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (2,280,313)        
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,051,741        
Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (355,461)        
Non-PEO NEO | Aggregate Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 74,496        
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (2,159,209)        
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,047,692        
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,663,476)        
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,076,382        
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 262,988