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Applied LNG, with corporate headquarters in Westlake Village, California, is the second largest producer and distributor of liquefied natural gas (LNG) in the US. Established in 1995, Applied LNG currently serves a blue-chip customer base in various growth sectors, such as transit authorities, refuse and regional trucking fleets, asphalt paving companies, and greenhouses. Applied LNG operates a Plant in Topock, Arizona and has recently announced the purchase of 31 acres in Midlothian, Texas, to build a multi-liquefier LNG production platform, which will consist of up to five liquefiers with a production capacity of 86,000 LNG gallons per day, per liquefier.
We are an independent oil and natural gas acquisition, exploitation and exploration company. We are focused primarily in the Gulf of Mexico area, where we have developed significant technical expertise and where the high production rates associated with hydrocarbon deposits have historically provided us the best opportunity to achieve a rapid payback on our invested capital. We own working interests in approximately 77 fields in federal and state waters, and have interests in leases covering approximately 0.9 million acres. Our proved reserves at December 31, 2009 were 371 Bcfe, with a pre-tax PV-10 of $890.0 million (including plug and abandonment cost). Of those, 76% were proved developed reserves and 45% were natural gas reserves. We are headquartered in Houston, Texas and trade on the NYSE under the symbol "WTI".
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