Three Peaks business strategy is to add significant value though the acquisition of non-operated interests in leases and wells in high-quality acreage throughout the core of the Williston Basin. Consolidation of those interests through multiple acquisitions will add rate; cash flow; and further prove-up reserves, which will add significant value to our shareholders.
Primarily Three Peaks’ budget is focused on the acquisition of non-operated interests in wells drilled and completed in the core of the Bakken and Three Forks formation located in the core of the Williston Basin. In addition, capital is allocated to pay for our share of newly drilled and completed wells by leading operators and strong track records in the Williston Basin.
We have already enjoyed much success by applying this strategy as a result of our close relationships in the basin and investing capital at a time when the market is strong for acquisition opportunities.
With a strong operational background, Three Peaks can selectively partner with leading operators in the Williston Basin and leverage the wealth of knowledge gained from hundreds of people and millions of dollars of operational R&D costs without having to incur the G&A costs required to fund those type of resources, nor climb the learning curve that operators have already climbed.