Operationally, we experienced a very good first quarter. Production increases were on target toward achieving our planned double-digit growth for the year, however, total earnings were significantly impacted by the drop in worldwide crude oil and natural gas prices. |
Our confidence in Texaco's future operating and financial successes is permitting us to embark upon this new program at the same time that we are pursuing a strong investment program. |
We didn't have a deal a year ago. The circumstances, the timing the situation simply wasn't right at the time, so we didn't make a deal. |