CapitalEnergy Corporation’s operations are concentrated in Alberta and Saskatchewan producing fairways of the Western Canadian Basin. CEC’s focus is on identifying opportunities to create and deliver value with an active development program to maximize its high quality assets. The Company’s enviable cash position and the strength of its financial partners supports our efforts in building a high quality asset base through small and large scale acquisitions, land accumulation and farm-ins.
CEC is currently building Deep Basin oil and sweet liquid-rich natural gas plays that provide strong economics and significant upside potential even in a volatile commodity environment.
In 2015, the Company’s plan to allocate capital budget to land aggregation and project development on our targeted areas of the Alberta Deep Basin will help to build a platform for long term sustainable profitable growth in reserves and production. In addition, CEC will continue to allocate capital towards its high netback conventional light oil assets in Redvers and Oungre in southeast Saskatchewan.
Our combination of assets provides a solid foundation for continued growth and sustainable results:
- Large oil and gas-in-place conventional plays
- Low risk resource plays
- Early stage development plays
- High impact exploration exposure
Given the current commodity price environment, CEC will focus on cost controls and operation efficiencies to ensure stable growth for the Company and to maximize long term value to shareholders. CEC’s efforts going forward will be to execute on the opportunities identified by its team to provide exposure to liquids rich natural gas in the Deep Basin area of Alberta as well as light oil opportunities throughout the WCSB.
