Southwestern Energy Execs Get More Pay

Southwestern Energy Co. responded to a successful year of oil and natural gas exploration and production by increasing its executive’s compensation. Reflecting a vested interest in the company, each of Southwestern Energy’s top three executives have received increasing salaries and benefits during the last three years, according to the company’s annual report.

President, Director and CEO Harold Korell received the smallest increase in base salary last year. For 2000, Korell received $418,000, up 2 percent from $410,000 in 1999 and up 27 percent from $329,167 in 1998.

Alan Stevens, president and chief operating officer of Southwestern Energy Production Co. and SEECO Inc., received a salary of $290,000 in 2000. That was up 9.8 percent from 264,000 in 1999 and 16 percent from 250,000 in 1998.

Greg Kerley, executive vice president and chief financial officer, received $252,000 as a base salary for 2000, up 7.2 percent from 235,000 in 1999 and up 23.6 percent from 203,875 in 1998.

The increased compensation coincides with successful explorations for the company’s E&P ventures in New Mexico’s Permian Basin and the Gulf Coast.

The company’s annual meeting is scheduled for May 17 at the Holiday Inn and Convention Center in Springdale.