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Our purpose is to assist in fueling North America’s energy requirements guided by relentless focus on our six imperatives. Honesty, integrity and commitment are vital to driving our growth and success. We maintain a high standard of business practices which translate into unparalleled value for our shareholders. To achieve our mission, we will conduct our business with these six responsibilities in mind: obey the law, stimulate economic growth, be environmentally responsible, expand opportunities for our employees, respect our vendors, and reward our shareholders. To date, the main focus of the Company has been the acquisition of low cost assets with significant development potential. The Piqua project in Kansas had been lightly developed when acquired, and its low-cost drilling and solid financial return is providing a repeatable and low-risk facet of the Company’s growth strategy. Drilling to date has been 100% successful with an average 10 months to payout of drilling expenses incurred. Reserve valuations have increased from less than $1.0 million to almost $3.0 million in the two years the Company has owned the property. The Bakken lands in Divide County, North Dakota, carry a steep development cost with wells ranging from $6.0-$8.0 million each. As a result, Legend has monetized the acreage while retaining a royalty interest, which allows the Company to continue to participate in the revenue generated through the drill bit, without any additional cost incurred. The royalty continues on the land indefinitely. As drilling on the acreage is still some time away due to priorities of the majority owners, the conversion of our interest to a royalty for Legend is currently unpredictable. Legend will participate in the revenue stream when the wells get drilled. As a non-operator, Legend will utilize the expertise and logistical capabilities of larger companies, without encumbering its balance sheet with expensive rig contracts and extraneous expenses. Legend’s Canadian acquisition affords it the opportunity to enjoy a stable production base coupled with an abundance of undeveloped land with access to a number of low-risk oil development projects. Although the Company has sold a number of smaller production properties, it still maintains a high working interest and solid production and revenue on its remaining assets. Due to saturated drilling around the Company’s Swan Hills property, reserves were drained before Legend could drill a well there. The Company was however able to monetize the small land position for a value in excess of $200,000 per flowing barrel.
Encana Corporation is a company engaged in hydrocarbon exploration.
Energy Freelance is an innovative tech startup based in Austin, Texas, designed to revolutionize the contract work landscape in the midstream, upstream, and renewable sectors. At our core, we are a dynamic marketplace for contract jobs and project-based opportunities. Born out of the need for a more streamlined, efficient, and cost-effective way to connect companies and freelance professionals, Energy Freelance has quickly become a go-to platform for businesses looking for top talent, and for professionals seeking challenging, rewarding projects. With our platform, companies can post their projects and contract positions to a network of highly skilled professionals and consulting firms. The competitive bidding process ensures that companies secure the best expertise at the best rates. For freelancers, we offer a robust platform to showcase their skills, connect with potential employers, and secure rewarding contracts. Built by industry insiders who truly understand the needs of the oil, gas, and renewable industries, we are committed to driving industry advancement by connecting talent and opportunity more efficiently than ever before. Whether you`re a company seeking the best for a project, or a professional looking to make your mark, Energy Freelance is your partner in unlocking potential and driving growth. Join us as we build the future of contract work in the energy sector.
EAG 1Source delivers essential outsourcing solutions for the oil & gas industry comprise of back office administration, IT solutions and consulting services.
acbc.org is a Binghamton, NY-based company in the Energy and Utilities sector.