EOG Resources, Inc.
Mark G. Papa, Chairman and Chief Executive Officer:
"We faced a very complex situation when Enron Corp., which was EOG's majority shareholder, decided to liquidate its holdings in our company. Our Board set up a Special Committee to ensure that the interests of our minority shareholders were protected. Goldman Sachs was appointed as financial advisor to the committee. Members of the Goldman Sachs teamwhich included bankers, researchers and equity specialistswere creative and logical. They enabled the Special Committee to work through extremely complicated issues. The ensuing offering that Goldman Sachs lead managed for EOG to provide financing related to the share exchange in which EOG acquired 62.27 million EOG shares from Enron Corp. was a class act. They delivered on a firmwide team effort, from Capital Markets to Research. In addition, they demonstrated their strong distribution capabilities across the United States and Europe, and their securities salespeoplewhether in Frankfurt, San Francisco or whereverwere the most impressive we have seen. The end result was that we obtained the proper outcome for our minority shareholders."
- Goldman Sachs was advisor to the Special Committee of the EOG Resources Board of Directors in EOG's approximately $1.4 billion share exchange with Enron Corporation.
- Goldman Sachs was bookrunning manager for EOG Resources and Enron Corporation of a public offering of common stock and exchangeable notes, respectively totaling more than $1 billion. This represented the largest equity financing by a U.S. independent oil and gas exploration and production company.
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