|
Headquarters:
717 Texas Avenue, Suite 2100
Houston, TX 77002
Employees: 2,100
CEO: Bobby Shackouls
Stock Symbol: BR
Website:
http://www.br-inc.com
Career
Site
Burlington Resources is one of the world's
leading independent exploration and production companies, and
holds one of the industry's leading positions in North American
natural gas reserves and production.
As of December 31, 2004, Burlington Resources
had total reserves of 2,001 MMBOE (million barrels of oil equivalent).
In addition, Burlington Resources has estimated 2005 production
of approximately 475 MBOE/d (thousand barrels of oil equivalent
per day), and access to significant conventional and unconventional
resources.
ConocoPhillips announced it will acquire
Burlington Resources for $35.6 billion in cash and stock.
Upon completion of the merger in mid-2006,
CEO Bobby Shackouls and Steven Shapiro, Executive Vice President,
Finance and Corporate Development, will retire, and Randy Limbacher,
currently Burlington Resources Executive Vice President and Chief
Operating Officer, will become Executive Vice President responsible
for North and South America, reporting to Jim Mulva, CEO of ConocoPhillips.
In 2004, Burlington had revenues of $5.6
billion and net income of $1.5 billion.
Benefits at Burlington
Retirement Plans
Burlington Resources helps
employees reach their long-term financial goals with two retirement
plans. Employees are eligible to enroll on the first day of the
month following employment:
401(k)
Employees may contribute up to 13 percent of eligible pay. The
company matches dollar for dollar on employee contributions up
to 6 percent or 8 percent, depending on years of service. Vesting
is immediate. The plan offers several investment options, including
Burlington Resources common stock.
Defined Benefit Cash Balance Pension
Plan
Burlington Resources contributes 4 percent to 7 percent of eligible
pay, depending on years of service. The plan is 100 percent employer
paid, and employees are 100 percent vested after five years of
service.
Insurance Coverage
Insurance coverage begins for
employees and their eligible dependents on the day of hire.
Medical
For most employees (depending on location), BR offers two medical
plan options:
A Preferred Provider Organization (PPO) offers in-network and
out-of-network coverage. The employee's share of expenses is
higher for out-of-network providers.
A Traditional/Enhanced Indemnity Option allows employees to choose
any provider. Most services require the patient to satisfy a
deductible before the plan begins paying benefits.
Also included in the medical plan are prescription drug benefits,
vision coverage and Nurseline, which provides 24-hour access
to registered nurses.
Dental
Two dental plans - a traditional plan and a PPO plan - allow
employees to choose the right amount of coverage for his or her
family. In-network plans offer the least out-of-pocket costs.
Employee Assistance Program (EAP)
EAP provides free, confidential, professional counseling and
referral services for employees and eligible dependents. The
EAP provides up to eight visits per year per family member per
incident for family/relationship conflict, emotional stress,
substance abuse, legal concerns and financial counseling.
Flexible Spending Accounts
BR offers two programs to help reduce out-of-pocket costs by
reducing taxable income. A Health Care account allows you to
pay up to $4,000 in qualifying health care expenses in pretax
dollars, while the Dependent Daycare plan allows up to $5,000
for eligible dependent daycare expenses.
Life Insurance
The company provides employees with basic life insurance equal
to two times their base salary. Employees may also purchase optional
supplemental life insurance up to four times their base salary,
along with dependent life insurance, and voluntary accidental
death and dismemberment insurance at low group rates. In addition,
the Company provides term life insurance to retired employees
eligible under the BR Pension Plan.
Business travel accident insurance, 100 percent paid for by the
company, rounds out the insurance coverage. Employees are covered
on business travel up to five times their base pay, with a maximum
benefit of $500,000.
Disability
Short- and long-term disability plans are 100 percent employer
paid, and there is no waiting period. Short-term disability pays
100 percent of pay for the first four weeks, 90 percent for the
next nine weeks and 75% for the next 13 weeks. For employees
with 10 or more years of service, short-term disability benefits
are paid at 100 percent of pay for up to 26 weeks. Long-term
disability benefits provide up to 60 percent of base pay.
Other Benefits
Flexible Work Schedule
Burlington Resources has adopted a 9/80 work schedule for most
of its workforce. This allows employees to enjoy a day off every
other Friday. Employees work 80 hours in nine workdays and then
take the 10th day off.
Time Off
Nine paid holidays are observed each year by employees on the
9/80 schedule. Vacation hours accrue based on years of service,
starting with two weeks off and increasing by one week with every
five years of service up to a maximum of six weeks. Paid time
off is also granted for funeral leave and military leave, subject
to certain restrictions.
Educational Assistance
BR offers education assistance to full-time and part-time employees
in support of continued professional growth.
Adoption Assistance
Employees are reimbursed up to $5,000 toward reasonable and necessary
costs associated with adoption of a minor child or up to $6,000
for costs associated with a special-needs child.
Matching Gift Programs
The Burlington Resources Foundation will match $2 to every $1
contributed by an employee to an eligible college or university
within the United States, regardless of the employee's alumnus/alumna
status. The foundation will also match dollar for dollar employee
contributions to eligible charitable organizations.
Updated January 7, 2006
|