We are an independent oil and natural gas exploration and production company concentrated in the shallow to moderate depth waters of the central region of the Gulf of Mexico Shelf. We were incorporated in January, 1998 by Richard A. Bachmann, our chairman, president and chief executive officer. Our 12-member management team has an average of 25 years of energy industry experience, many with large energy companies.
We have grown our company through a combination of multi-year, multi-well drill-to-earn programs and strategic acquisitions. Our proved oil and natural gas reserves at January 1, 2000, were 35.5 million barrels of oil equivalent. Our oil and natural gas production for the quarter ended September 30, 2000, averaged 12,486 barrels of oil equivalent per day. As of September 30, we operated properties that comprised approximately 88% of our production.