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Abstract
Evergreen Resources is a Denver-based independent energy company engaged in the exploration, development, operation and acquisition of oil and gas properties. The company was founded in 1981. Evergreen has a large inventory of low-risk-development, economic drilling locations, which should provide steady production growth for the next several years. Evergreen has one of the lowest cost structures in the oil and gas industry. In the second quarter of 1999, operating costs averaged 30 cents per thousand cubic feet (Mcf) of gas; general and administrative expenses, about 22 cents; and depreciation, depletion, and amortization, less than 35 cents. In an interview, Mark S. Sexton, chairman, president and CEO, discussed the company. According to Sexton, the company is arguably the purest long-term natural gas play in the industry.