Four Houston drillers boosted CEO pay last year

Photo: Getty Images for The New York Ti
1 of 24 | executive-pay
Charif Souki
Former Chairman, Chief Executive Officer and President
Cheniere Energy, Inc.
Base Salary $1
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Photo: Associated Press
2 of 24 | executive-pay
Anthony G. Petrello
Chairman of the Board, President and CEO
Nabors Industries Ltd.
Base Salary $1,580,077
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Photo: Houston Chronicle
3 of 24 | executive-pay
Bob V. Patel
Chief Executive Officer
LyondellBasell Industries N.V.
Base Salary $1,218,151
Bonus $0 Read Full Caption
Photo: Houston Chronicle
4 of 24 | executive-pay
Greg C. Garland
Chairman and Chief Executive Officer
Phillips 66
Base Salary $1,549,164
Bonus $0
Photo: Houston Chronicle
5 of 24 | executive-pay
R. M Lance
Chairman and Chief Executive Officer
ConocoPhillips
Base Salary $1,700,000
Bonus $0
Photo: Houston Chronicle
6 of 24 | executive-pay
Meg A. Gentle
Executive Vice President - Marketing
Cheniere Energy, Inc.
Base Salary $630,000
Bonus $4
Photo: Schlumberger
7 of 24 | executive-pay
Paal Kibsgaard
Chairman, President and CEO
Schlumberger
Base Salary $1,925,000
Bonus $0
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8 of 24 | executive-pay
R. A. Walker
Chairman, President and CEO
Anadarko Petroleum Corporation
Base Salary $1,350,000
Bonus $
Photo: Associated Press
9 of 24 | executive-pay
David J. Lesar
Chairman and Chief Executive Officer
Halliburton Company
Base Salary $1,660,000
Bonus $
Photo: Houston Chronicle
10 of 24 | executive-pay
John J. Christmann
President and CEO
Apache Corp.
Base Salary $1,081,551
Bonus $0
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Photo: For the Chronicle
11 of 24 | executive-pay
R. Keith Teague
Executive Vice President - Asset Group
Cheniere Energy, Inc.
Base Salary $565,385
Bonus
Photo: Cheniere Energy
12 of 24 | executive-pay
Michael J. Wortley
Senior Vice President and Chief Financial Officer
Cheniere Energy, Inc.
Base Salary $565,385 Read Full Caption
Photo: Houston Chronicle
13 of 24 | executive-pay
Martin S. Craighead
Chief Executive Officer
Baker Hughes Incorporated
Base Salary $1,250,000
Bonus $0
Photo: C&J Energy Services
14 of 24 | executive-pay
Joshua Comstock
Chairman of the Board and Chief Executive Officer
C&J Energy Services, Ltd.
Base Salary $969,946
Photo: For the Chronicle
15 of 24 | executive-pay
Greg W. Rayford
Senior Vice President and General Counsel
Cheniere Energy, Inc.
Base Salary $565,385
Bonus
Photo: Houston Chronicle
16 of 24 | executive-pay
Robert Flexon
President & Chief Executive Officer
Dynegy Inc.
Base Salary $1,080,769
Bonus $0
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Photo: BLOOMBERG NEWS
17 of 24 | executive-pay
David P. Steiner
President and Chief Executive Officer
Waste Management, Inc.
Base Salary $1,275,891
Bonus
Photo: AP
18 of 24 | executive-pay
Peter R. Huntsman
President and Chief Executive Officer
Huntsman Corporation
Base Salary $1,675,000
BonusRead Full Caption
Photo: Houston Chronicle
19 of 24 | executive-pay
Lee M. Tillman
President and Chief Executive Officer
Marathon Oil Corporation
Base Salary $1,050,000
Bonus
Photo: Chronicle
20 of 24 | executive-pay
Gregory L. Ebel
President and Chief Executive Officer
Spectra Energy Corp.
Base Salary $1,133,000
Bonus
Photo: For the Chronicle
21 of 24 | executive-pay
Thomas L. Ryan
Chairman of the Board
Service Corporation International
Base Salary $1,241,154
Bonus $0
Photo: American National Insurance Co.
22 of 24 | executive-pay
Robert L. Moody, Sr.
Chairman Emeritus
American National Insurance Co.
Base Salary $839,423
Bonus $172
Photo: Crown Castle
23 of 24 | executive-pay
W. Benjamin Moreland
President and Chief Executive Officer
Crown Castle International Corp.
Base Salary $978,141
Photo: Courtesy
24 of 24 | executive-pay
Thomas L. Carter, Jr.
President, Chief Executive Officer, and Chairman
Black Stone Minerals, L.P.
Base Salary $66

Four Houston drillers boosted pay packages for top executives last year as oil prices recovered from the worst crash in a generation.

The CEOs of Anadarko Petroleum Corp., EOG Resources, Noble Energy and Cabot Oil & Gas got more in stock awards and cash incentives last year, raising their total pay even as their base salaries remained the same as the year before, recent regulatory filings show.

Most of Houston’s public oil companies still haven’t disclosed how much they paid executives last year. But compensation consultants say many exploration companies, like the four that have already filed regulatory documents, increased pay for top bosses in 2016 as oil prices doubled to more than $50 a barrel.

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“We tend to see compensation ride the commodity price,” said Josh Henke, a director at the consultancy Compensation & Benefits Solutions in Houston.

The two-year oil bust forced more than 200 North American energy companies into bankruptcy and put more than 100,000 people out of work across Texas. But oil companies typically maintain pay levels for executives as an incentive to stay on the job even in tumultuous years, the consultants said.

Crude prices dropped to the lowest point in more than a decade in February, leaving drillers in a painful financial crunch. But the market recovered, and energy stock prices surged.

“They had a really good year,” said Chris Crawford, president of Houston consultancy Longnecker & Associates. “You had a bounce back in oil prices, you saw companies restructure their balance sheets and move assets into less expensive places to drill.”

The stock-market value of Anadarko, EOG, Noble and Cabot climbed by a combined $40 billion last year, even though they lost a combined $5.6 billion in income.

RELATED: Anadarko CEO: Optimistic, but still cautious in first half of 2017

Anadarko CEO Al Walker’s total pay rose $1.6 million to $18.7 million last year, with about half of the increase coming from an $800,000 increase in his performance-based cash incentives. The other half came from the accounting value of Walker’s retirement program, which fluctuates year to year.

The executive’s base salary edged lower by $50,000 to $1.3 million, while stock and option awards increased by about $75,000 to $11.2 million.

Meanwhile, EOG Resources increased pay for CEO William Thomas by about $2.7 million, up to $10.5 million in 2016. The company kept his base salary flat at $925,000, but increased stock awards by $3.6 million to $7.5 million.

Noble Energy raised the total pay for CEO David Stover by $2.8 million to $10.1 million. Much of the increase came from a $2.6 million increase in stock awards, while his base salary stayed flat at $950,000.

At Cabot Oil & Gas, CEO Dan Dinges’ total pay rose by $2.3 million to $11.3 million. His stock awards climbed by $1.8 million and cash incentives increased by more than $600,000. His base pay stayed the same at about $900,000.

Anadarko, EOG, Noble and Cabot declined to comment or did not respond to requests for comment.