Company Strategy
Our current business strategy is to focus on the economic development of our existing acreage, increase our acreage and horizontal well locations in the Midland and Delaware Basins and increase stockholder value through the following:
- Developing our acreage and profitably growing our production while seeking to grow Free Cash Flow;
- Operating our properties efficiently and continuing to improve our operating margins;
- Deploying capital efficiently by drilling multi-well pads, reducing drilling times and increasing completions per day;
- Operating our assets in a safe and environmentally sensitive manner;
- Continuing to hedge commodity prices as opportunities arise;
- Pursuing value-accretive acquisition and corporate merger opportunities, which could increase the scale of our operations;
- Maximizing operating margins and corporate level cash flows by minimizing operating and overhead costs;
- Expanding our acreage positions and drilling inventory in our primary areas of interest through acquisitions and farm-in opportunities, with an emphasis on operated positions;
- Blocking up acreage to allow for longer horizontal lateral drilling locations which provide higher economic returns; and
- Maintaining a strong balance sheet and financial flexibility.
