Areas of Operation

Our reserves are located primarily in the Permian Basin, one of the largest and most prolific oil and natural gas producing basins in the United States. The Permian Basin extends over 100,000 square miles in West Texas and Southeast New Mexico and has produced over 24 billion Bbls of oil since its discovery in 1921. The Permian Basin is characterized by oil and natural gas fields with long production histories and multiple producing formations.

Our producing properties in the Permian Basin are located in mature fields. Approximately 73% of our production for the period ended December 31, 2008 was from properties under primary recovery, 15% from secondary recovery (waterflood) and 12% from tertiary recovery (CO2 or N2 injection). On a proved reserve basis, 77% are primary, 14% are secondary (waterflood) and 9% are tertiary (CO2) reserves.

We had proved reserves of approximately 37.1 MMBoe, of which 72% were oil and natural gas liquids and 84% were classified as proved developed producing, 1% were proved developed non-producing and 15% were proved undeveloped as of December 31, 2009.

Headquarters
303 W. Wall, Suite 1400
Midland, TX 79701
432-689-5200

Cody, Wyoming Business Unit
1501 Stampede Avenue, 3rd Floor
Cody, WY 82414
307-587-7232
Tom Fitzsimmons, Business Unit Leader