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Manage Mineral and Leasehold Assets as a Portfolio to Maximize Value and Generate Optimal Cash Flow
- Selectively participate with working interest on existing holdings in the highest quality, low-risk projects that are projected to exceed our corporate return threshold.
- Aggressively lease out mineral holdings outside areas of potential working interest participation.
- Grow the mineral holdings by acquiring mineral acreage, in the cores of resource plays, with substantial undeveloped opportunities that meet or exceed our corporate return threshold.
- Divest minerals with limited optionality and mineral rights when the amount negotiated exceeds our projected total value.
Maintain Strong Financial Position
- Allocate capital for highest shareholder returns.
- Drive operational efficiency, minimize G&A expense.
- Maintain conservative leverage ratio to ensure the ability to survive and thrive in all business and commodity cycles.
- Hedge to manage commodity risk and to protect balance sheet.
- Continue to pay regular dividends.
- Pay special dividends when the Company has capital availability beyond the needs of the business.
- Repurchase shares when the stock trades at a material discount to the Company’s estimate of intrinsic value.