REPORT: Oil Giant EOG Showers Executives With Millions As Americans Struggle At The Pump
WASHINGTON, D.C. – According to a new report from government watchdog Accountable.US, the top five executives at oil giant, EOG Resources, were showered with over $28 million in total compensation in 2021 – including $4.6 million in bonuses and pay raises as American consumers continue to struggle at the pump. These sky-high executive payouts come as the company made over $4.6 billion in profits in 2021 thanks to high gas prices, $2.7 billion of which went back to shareholders.
As Americans continue to struggle with high gas prices, Big Oil does a victory lap, showering already wealthy executives with millions of dollars in bonuses. It’s time for EOG and other oil companies to start passing the benefits of their massive profits on to consumers."
Kyle Herrig, president of Accountable.US
EOG Resources’ latest profits come as they continue to pay pennies to drill on public lands. The company is one of the biggest leaseholders of public lands in the U.S., controlling 704,048 acres across 1,667 leases. Even with their “sweetheart deal,” EOG still has a history of trying to withhold millions in royalties from taxpayers, facing a lawsuit over such issues in Wyoming as recently as 2020.
- Executive bonuses included:
- $1.2 million to CEO Ezra Yacob, bringing his total compensation to $9.8 million;
- $1.07 million to COO Llyod Helms, bringing his total compensation to $6.4 million;
- $874,400 CFO Timothy Driggers and General Counsel Michael Donaldson, bringing both of their total compensations north of $4.7 million;
- And $558,500 to EVP Jeffrey Leitzell, bringing his total compensation to $2.7 million.
- Additionally, all five top executives received pay raises totaling $260,000. These include:
- A $150,000 raise to CEO Ezra Yacob;
- $35,000 raises for COO Llyod Helms and EVP Jeffrey Leitzell;
- And $20,000 raises for CFO Timothy Driggers and General Counsel Michael Donaldson.