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Our purpose is to assist in fueling North America’s energy requirements guided by relentless focus on our six imperatives. Honesty, integrity and commitment are vital to driving our growth and success. We maintain a high standard of business practices which translate into unparalleled value for our shareholders. To achieve our mission, we will conduct our business with these six responsibilities in mind: obey the law, stimulate economic growth, be environmentally responsible, expand opportunities for our employees, respect our vendors, and reward our shareholders. To date, the main focus of the Company has been the acquisition of low cost assets with significant development potential. The Piqua project in Kansas had been lightly developed when acquired, and its low-cost drilling and solid financial return is providing a repeatable and low-risk facet of the Company’s growth strategy. Drilling to date has been 100% successful with an average 10 months to payout of drilling expenses incurred. Reserve valuations have increased from less than $1.0 million to almost $3.0 million in the two years the Company has owned the property. The Bakken lands in Divide County, North Dakota, carry a steep development cost with wells ranging from $6.0-$8.0 million each. As a result, Legend has monetized the acreage while retaining a royalty interest, which allows the Company to continue to participate in the revenue generated through the drill bit, without any additional cost incurred. The royalty continues on the land indefinitely. As drilling on the acreage is still some time away due to priorities of the majority owners, the conversion of our interest to a royalty for Legend is currently unpredictable. Legend will participate in the revenue stream when the wells get drilled. As a non-operator, Legend will utilize the expertise and logistical capabilities of larger companies, without encumbering its balance sheet with expensive rig contracts and extraneous expenses. Legend’s Canadian acquisition affords it the opportunity to enjoy a stable production base coupled with an abundance of undeveloped land with access to a number of low-risk oil development projects. Although the Company has sold a number of smaller production properties, it still maintains a high working interest and solid production and revenue on its remaining assets. Due to saturated drilling around the Company’s Swan Hills property, reserves were drained before Legend could drill a well there. The Company was however able to monetize the small land position for a value in excess of $200,000 per flowing barrel.
RAAM Global Energy Company is a Lexington, KY-based company in the Energy and Utilities sector.
We believe that Hilcorp`s most valuable resource isn`t found underground. Rather, it`s something special found deep within all who work here. Our skilled and dedicated employees are quick-thinkers, action-oriented, and work like company “owners” — making Hilcorp a great place to work! This unique energy has made Hilcorp the third-largest privately-held exploration and production company in the United States. And we have the power to be the best.
Newpark Resources, Inc., publicly traded on the NYSE (symbol NR), is a uniquely positioned oilfield services company focused on two distinct business segments: drilling fluids and mats and integrated services. The company was founded in 1932, and its corporate headquarters is located in The Woodlands, TX. Newpark Drilling Fluids (NDF) is the largest business unit, having commenced operations in 1997. As the only remaining service company whose primary focus is drilling fluids, NDF has become the third largest drilling fluids company serving the North American market. Newpark Mats and Integrated Services (NMIS) provides temporary work sites and access roads to drilling sites, as well as site closure and remediation upon completion of operations. NMIS is the dominant player in mat rental and integrated site services, with the DURA-BASE™ composite mat system, which provides a safe, cost-effective surface for year-round all weather performance. Newpark Resources` significant status in these business segments and the company`s environmentally advanced contributions provide a bright outlook for its continued growth and success.
Klabzuba Oil Gas is a Havre, MT-based company in the Energy & Utilities sector.