Strategy
Our goal is to enhance stockholder value through profitably increasing reserves, production and cash flow by executing our strategy as described below:
Exploit our multi-year project inventory.
We believe our multi-year drilling and exploitation inventory of drilling locations and recompletion projects on our existing properties will allow us to grow our proved reserves and production for the next several years.
Enhance production from our existing properties through development of additional producing horizons and enhanced recovery methods.
We have begun to evaluate additional productive horizons underlying certain of our existing producing horizons in Southeast New Mexico. During 2006 and 2007, we drilled approximately 150 wells to the Blinebry interval, 99% of which have since been completed as producers. In addition, we are evaluating the feasibility of enhanced recovery operations on a significant portion of our Southeast New Mexico properties.
Pursue the acquisition, exploration and development of unconventional emerging oil and natural gas resource plays.
We have assembled an exploration team to target unconventional emerging resource plays. Members of our technical staff have, on average, more than 20 years experience in the industry.
Make opportunistic acquisitions that meet our strategic and financial objectives.
We seek to acquire oil and gas properties that we believe complement our existing properties in our core areas of operation, as well as other properties that provide opportunities for the addition of reserves and production through a combination of exploitation, development, high-potential exploration and control of operations.
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