Corporate Strategy

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.

Reward Shareholders

  • 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.