[Sponsored Report] Across the seas, supply connects with demand
However, with natural gas prices still substantially lower than oil’s, the challenge for Canadian energy companies — and particularly junior energy companies — is to build stronger long-term value in this highly competitive market. Maintaining substantial short-term returns while getting ready for a shifting long-term energy market is one of the key challenges of this industry.
Manitok Energy is one company that has been able to consistently build value in this cutthroat market. Led by Massimo Geremia, the CEO and one of the founders of the Calgary-based company, Manitok has been working for almost a decade to position itself as the ideal long-term oil and gas investment.
What’s unique about Manitok is its investment in the foothills of the Western Canada Sedimentary Basin. Originally thought to be an overly costly project, the conventional reservoir has been mostly under-exploited. This has resulted in a region with very little competition for Manitok, meaning lower costs in both acquisition and land use.
“Our strategy is to focus on conventional reservoirs in order to maximize shareholder value,” comments Geremia. “Our wells in the Alberta foothills are currently producing a healthy product mix of both oil and natural gas, which makes us sustainable for both the short and long term. Currently, the company is producing about 4,200 to 4,400 barrels of oil equivalent per day, double our numbers in 2011.
“Another key strength of the company is our team,” he continues. “The team has a wealth of experience in the industry, most of whom have worked in some of Canada’s best oil and gas companies.” Given Asia’s — and in particular, Korea’s — unquenchable
demand for energy, producers such as Manitok need only to look across the Pacific to make a mutually profitable connection.
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