One of EEI's main objectives is to enhance partner value while maintaining long-term partner relationships by offering reasonable risks and the potential for strong, stable cash flow and competitive rates of return. In seeking to minimize risk and maximize profit potential, EEI encourages partners to diversify investments across multiple projects. EEI strives to maintain a balance between lease acquisitions and strategic partnerships while controlling costs and improving productivity to improve margins. We maximize value by concentrating in our areas of expertise while pursuing exploration and development opportunities in our core operating regions, maintaining a low cost structure, and having substantial financial flexibility.
We utilize engineers and geologists with extensive expertise in the production basins we are working and we utilize advanced industry technology, including seismic data, improved logging tools and formation stimulation techniques. EEI's objective is to establish commercial reserves from strategic positions in high potential exploration plays in order to create and deliver partner value. In implementing this strategy, the team focuses on material positions that are capable of providing significant growth through exploration.
This focus has been further defined by concentrating on the geographic region of Texas, Louisiana, Arkansas and Oklahoma, a hot bed of US oil production. Indeed, if Texas were a nation, it would rank as one of the top ten producers in the world. Texas currently accommodates some 241,000 active oil and gas wells which produce an average of some 1.7 million barrels of oil a day and 11.5 BCF (billion cubic feet) of gas a day.
The corporate philosophy is one of entrepreneurial, but conservative, independent, measured risk-taking in oil and gas exploration and development worldwide. All projects involve a combination of the Company’s wide range of expertise, experience, technical and financial skills with local partners to allow exploration and development to progress rapidly and with regard to local political, social and environmental issues.
The Company’s task is to provide maximum financial returns to working partners.