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Atlanta Gas Light Co is a Oakwood, GA-based company in the Energy and Utilities sector.
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.
Heavy Co is a Lincoln, NE-based company in the Energy and Utilities sector.
Jonah Energy LLC acquires and operates producing onshore oil and gas properties located in North America. On May 12, 2014 Jonah Energy closed on the acquisition of the Jonah Field located in Sublette County, Wyoming from Encana Corporation. The Jonah field has a total productive area of about 24,000 acres, over 1,600 producing wells, and estimated year-end 2013 proved reserves totaling approximately 1.5 trillion cubic feet equivalent (Tcfe). In addition, the acquisition from Encana includes over 100,000 undeveloped acres adjacent to Jonah field known as the Normally Pressured Lance (NPL) area. The NPL has a potential of up to 3,500 new gas and oil wells. Our development plans include a current five rig drilling program and base production enhancement projects. Jonah Energy was named after the prolific Jonah field, the company`s first asset investment. The company name is meant to honor the people who built the field into a world-class gas asset and to reflect that the Jonah field will be Jonah Energy`s platform for future growth and top priority. Jonah Energy is led by Tom Hart (CEO), Craig Manaugh (President & COO), Dave Honeyfield (CFO), Mark Brannum (General Council) and Rory O`Byrne (Chief Human Resource officer). Jonah Energy is backed by TPG, a leading global private investment firm.
ironpumpjack is a Drayton Valley, AB-based company in the Energy and Utilities sector.