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Will-Drill Resources Incorporated is a Shreveport, LA-based company in the Energy and Utilities sector.
schafferoil is a Saint Louis, MO-based company in the Energy and Utilities sector.
Newfield Exploration Company (NYSE:NFX) is an independent energy company headquartered in the Woodlands, Texas. Newfield is engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The Company relies on a proven strategy of growing reserves through an active drilling program and select acquisitions. Newfield`s principal domestic areas of operation include the Mid-Continent, the Rocky Mountains and onshore Texas. Internationally, the Company focuses on offshore oil developments in Malaysia and China.
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.
Headquartered in Houston, Texas, Key Energy Services offers clients a comprehensive and advanced array of onshore energy production services. Our service offerings include workover, drilling, fluid management, frac stack and well testing, liner hanger systems, fishing and rental services, and consulting services. Key Energy Services is redefining the industry. We are using technology where none previously existed, building equipment with unmatched speed, quality and efficiency and training our people to excel. All this with one goal in mind: our customers` long-term success. Key is committed to developing the newest technologies while maintaining the highest standards of employee safety and training, all to provide customers with an unparalleled quality of service and value. Key Energy Services employs more than 8,500 people worldwide. The Company trades on the NYSE under the ticker symbol "KEG."