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PrairieSky Royalty Ltd. (“PSK”) was formed to acquire fee simple mineral title lands predominately in Alberta with the objective to generate significant free cash flow through indirect third party oil and gas investment at a relatively low risk and low cost to PSK. As a result of the initial public offering, PSK became one of the largest independently-owned portfolios of fee simple mineral title in Canada, with approximately 6.3 million acres. In December 2014, PSK acquired Range Royalty, a leading private oil and gas royalty company, adding a further 140,000 acres of fee simple mineral title and 3,160,000 acres of overriding royalty interest lands. PSK`s business model and continued focus is to generate medium-term to long-term value and growth for its shareholders through the pro-active leasing of its fee title lands, applied expertise in royalty agreement compliance and revenue collection and acquisitions of complimentary royalty assets. Third-party development of PSK`s properties is expected to provide it with sustainable royalty revenues with minimal or no operating costs, capital costs, environmental liabilities or reclamation obligations associated with petroleum and natural gas development incurred on the part of the company.
Energy XXI is an independent oil and natural gas development and production company which has historically focused on development drilling on our core properties to enhance production and ultimate recovery of reserves, supplemented by strategic acquisitions from time to time. Our acquisition strategy has historically been to target mature, oil producing properties on the Gulf of Mexico Shelf and the U.S. Gulf Coast that have not been thoroughly exploited by prior operators. The Company`s properties are located on the U.S. Gulf Coast or on the Gulf of Mexico Shelf and we currently operate 91% of our proved reserves. Our geographic concentration on the Gulf of Mexico Shelf enables us to manage our operated fields efficiently and our high number of wellbore locations provides diversification of our production and reserves. By having operations in a geographically concentrated area, we can optimize and more efficiently service our operations. At March 31, 2017 our total proved reserves were 109.4 MMBOE of which 80% were crude oil and 71% were classified as proved developed reserves. We operated or had an interest in 616 gross producing wells on 439,294 net developed acres, including interests in 57 producing fields. We believe operating our assets is a key to our success and approximately 91% of our proved reserves are on properties operated by us.
Sellers Petroleum is a Yuma, AZ-based company in the Energy and Utilities sector.
Official account for the Western States Petroleum Association, representing oil and energy companies that fuel CA, AZ, NV, WA & OR.