Objectives and Strategies
Pyramid will strive to create sustainable growth in reserves, production, and cash flow through:
- Solid cash flow with low risk development potential from the Gulf of Mexico assets;
- Exploration drilling for prospects in the Gulf of Mexico based on 3D seismic;
- Negotiating the acquisition of working interests in Gulf of Mexico and high quality international exploration and development projects. This process requires careful selection of quality projects and the Pyramid team has the experience required to do this.
Pyramid intends to reduce capital expenditures risk by adopting a portfolio approach.
Highlights
- Operator of the Tension Leg Platform in 1760 foot water depth in the GOM
- Operator of 55,000 bopd and 125 mmcfd capacity in Green canyon , GOM
- Company expertise in operations and exploration
- 1,200 net boped (average 3rd Q 2008)
- 40% oil and 60% gas ratio
- $70.0 MM drilling budget for 2009.