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Fortis Minerals is a well-funded private mineral acquisition company focused on purchasing mineral interests and overriding royalties in the premier oil and gas plays of the United States. The management team at Fortis Minerals consists of proven leaders in the energy business with operating company backgrounds. Our experience and knowledge across multiple basins, coupled with our financial resources, allows us to make aggressive offers and expedite seamless closings. Our values and expectations drive our business and practices, and we pride ourselves in being excellent stewards in the industry and in our community. Integrity is our most important asset and something we`re unwilling to compromise. We insist that our business is conducted the right way, so mineral and royalty owners can expect fair and dignified treatment from the Fortis team and our business partners.
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.
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