Business Description
Our principal business objective is to profitably grow proved reserves and production
for the long-term benefit of our shareholders. Our strategy centers on maximizing
cash flow from producing properties to reinvest in exploration and development
opportunities. We consider merger and acquisition opportunities that enhance our
competitive position and we occasionally divest non-core assets. Key elements
to our approach include:
Maintain a strong financial position;
Investment in a diversified portfolio of drilling opportunities;
Rate-of-return driven evaluation and ranking of investment decisions;
Tracking predicted versus actual results in a centralized exploration management
system, providing feedback to improve results;
Attracting quality employees and maintaining integrated teams of geoscientists,
landmen and engineers;
Maximizing profitability.
Conservative use of leverage has long been the key to our financial strategy.
We believe that low leverage coupled with strong full-cycle returns enables
us to better withstand volatility in commodity prices and provide competitive
returns and growth to shareholders.
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