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Company Description

Contact Info

300 Peach Street

PO Box 7000

El Dorado, AR 71731

United States

Phone: 870-862-6411


while at Terra Nova the company’s working interest is 10.475%. Total proved oil reserves at December 31, 2015 at Hibernia and Terra Nova were approximately 16.3 million barrels and 7.4 million barrels, respectively. The company owns a 5% interest in Syncrude Canada Ltd., a joint venture located approximately 25 miles north of Fort McMurray, Alberta. Syncrude utilizes its assets, which include three coking units, to extract bitumen from oil sand deposits and to upgrade this bitumen into a high-value synthetic crude oil. Total proved synthetic oil reserves for Syncrude at year-end 2015 were 114.8 million barrels. Malaysia In Malaysia, the company has majority interests in eight separate production sharing contracts (PSCs). The company serves as the operator of all these areas other than the unitized Kakap-Gumusut field. The PSCs cover approximately 3.68 million gross acres. In December 2014 and January 2015, the company sold 30% of its interest in most Malaysian oil and gas assets. The company has a 59.5% interest in oil and natural gas discoveries in two shallow-water blocks, SK 309 and SK 311, offshore Sarawak. Approximately 15,900 barrels of oil and gas liquids per day were produced in 2015 at Blocks SK 309/311. Oil and gas liquids production in 2016 at fields in Blocks SK 309/311 is anticipated to total approximately 13,500 barrels of oil per day, with the reduction from 2015 primarily related to natural field decline. The company has interests in three Block K discovered fields, which include Kikeh (56%) Kakap (8.6%) and Siakap North (22.4%) (Siakap). Total gross acreage held by the company in Block K as of December 31, 2015, was approximately 82,000 acres. Production volumes at Kikeh averaged approximately 14,700 barrels of oil per day during 2015. Kakap oil production in 2015 totaled approximately 7,000 net barrels of oil per day. In 2016, Kakap production is expected to average near 9,100 barrels of oil per day. The company has a Block K natural gas sales contract with PETRONAS that calls for gross sales volumes of up to 120 million cubic feet per day. The company also has an interest in deepwater Block H offshore Sabah. As of December 31, 2015, total natural gas proved reserves for Block H were approximately 311 billion cubic feet. The company has a 42% interest in a gas holding area covering approximately 2,000 gross acres in Block P. This interest can be retained until January 2018. In 2013, the company acquired an interest in shallow-water Malaysia Block SK 314A. The PSC covers a three year exploration period. The company’s working interest in Block SK 314A is 59.5%. This block includes 1.12 million gross acres. The company has a 70% carry of a 15% partner in this concession through the minimum work program. The first exploration wells were drilled in 2015 for this block. In 2015, the company acquired a 50% interest in offshore Block SK 2C. The company operates the block, which includes 1.08 million gross acres. The company has a 75% interest in gas holding agreements for Kenarong and Pertang discoveries made in Block PM 311 located offshore peninsular Malaysia. Australia In Australia, the company holds eight offshore exploration permits and serves as operator of six of them. The company also owns permit WA-481-P in the Perth Basin, offshore Western Australia. The company holds a 40% working interest and operatorship of the permit, which covers approximately 4.30 million gross acres. In 2012, the company acquired a 20% non-operated working interest in permit WA-408-P in the Browse Basin. The permit comprises approximately 417 thousand gross acres and expires in 2016. The company operates the concession and holds a 50% working interest in the permit covering approximately 4.08 million gross acres. The exploration permit has commitments for 2D and 3D seismic, to which acquisition was completed in the first half of 2015. This permit expires in 2020. In 2015, the company was awarded AC/P59 license, another acreage position in the Vulcan Sub Basin, offshore Western Australia. The block covers approximately 300 thousand gross acres. The exploration permit covers six years and re


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