Currently producing 75,000 boe per day from a proved plus probable reserves base of 312 million boes, our operations are geographically focused within select multi-zone regions of Western Canada. Being the legal operator of 85% of our assets and owning substantial gathering and processing facilities provides us the opportunity to add production and reserves in a timely and cost efficient manner.
Current monthly dividends of $0.12 per share are generated from our ability to modestly grow our production base through the application of our technical and operational expertise in a disciplined and cost effective manner. Over the past 13 years, we have maintained an unwavering commitment to six core business principles. These principles have stood the test of time and will continue to drive our future success:
- Build and retain entrepreneurial and knowledgeable staff to apply disciplined technical, operational, and financial expertise
- Create operational strength and dominance in geographically focused regions
- Develop low cost, low-risk economic opportunities with appropriate commodity balance
- Enforce capital efficiency and strict cost controls through acute attention to detail
- Preserve financial strength and flexibility to take advantage of new opportunities
- Pursue complementary acquisitions to add long reserve life, low-decline assets
Commitment to Value Creation
With operations geographically concentrated in three core regions, we create shareholder value by actively pursuing low to medium risk drilling opportunities on our extensive land base of 3.0 million net acres. Bonavista's committed teams are experts who understand our assets, apply our fundamental operating strategy and exercise the financial discipline and attention to detail that deliver ongoing success. We complement this activity with strategic acquisitions where we can apply our technical expertise to create incremental shareholder value.