The Company accumulates oil and gas reserves through the drilling of exploratory wells on acreage owned by or leased to the Company, or through the purchase of reserves from others. Nuevo's properties are primarily in California, but are also in the Texas Gulf Coast region and the Congo Republic in Africa. The Company's operations are concentrated primarily in two segments, exploration and production of oil and natural gas, and gas plant and other facilities. NEV also operates gas plants, pipeline facilities and oilfield assets.
Revenues reflect an increase in realized gas and oil prices.
Net income also reflects decreased lease operating and exploration expenses as a percentage of revenues. All Rights Reserved. Privacy Policy - Terms of Service Company information Copyright Market Guide . Data and information is provided for informational purposes only, and is not intended for trading purposes.