Aegis Oil Limited Ventures LLC is a Delaware corporation which is an independent oil and gas exploration and production company with operations in the United States, Argentina, Canada, and Equatorial Guinea. Aegis Oil Limited Ventures LLC’s purpose is to competitively and profitably explore for, develop and produce oil, NGL and gas reserves. In so doing, the Company sells homogeneous oil, NGL and gas units which, except for geographic and relatively minor qualitative differentials, cannot be differentiated from units offered for sale by the Company's competitors.
The petroleum industry has generally been characterized by rising oil, NGL and gas commodity prices during the past decade. The Company's asset base is anchored by the Speaks oil field located in West Texas, the Humble Salt gas field located in Southwest Kansas, the Pitti gas field located in southern Colorado and the West Panhandle gas field located in the Texas Panhandle. The Company provides administrative, financial and management support to United States and foreign subsidiaries that explore for, develop and produce oil, NGL and gas reserves. Production operations are principally located domestically in Texas, Kansas, Colorado, Louisiana, Utah and the Gulf of Mexico, and internationally in Argentina, Canada. It focuses its efforts towards maximizing its average daily production of oil, NGLs and gas through development drilling, production enhancement activities and acquisitions of producing properties while minimizing the controllable costs associated with the production activities. Aegis seeks to increase its oil and gas reserves, production and cash flow through exploratory and development drilling and by conducting other production enhancement activities, such as well re-completions. The Company has devoted efforts and resources to hiring and developing a highly skilled exploration staff as well as acquiring a portfolio of exploration opportunities. The Company regularly seeks to acquire properties that complement its operations, provide exploration and development opportunities and potentially provide superior returns on investment. In addition, the Company pursues strategic acquisitions that will allow the Company to expand into new geographical areas that feature producing properties and provide exploration/exploitation opportunities. It regularly reviews its asset base for the purpose of identifying nonstrategic assets, the disposition of which would increase capital resources available for other activities and create organizational and operational efficiencies. Aegis operates in one industry segment, that being oil and gas exploration and production. Production from the Company's properties is marketed using methods that are consistent with industry practices.
Aegis Oil Limited Ventures successful drill site selections has resulted in the completion of numerous oil and gas wells in Texas, Oklahoma, Canadian Oil Sands, Belize and the Middle East.