Enduring Resources
1050 17th Street, Suite 2500 , Denver, Colorado, United States

Enduring Resources, founded in 2004, was conceived by a core team of former Westport Resources executives and managers, including Barth Whitham, who serves as Enduring’s President and CEO.  Westport, co-founded in 1991 by Mr. Whitham, was established as an acquisition and exploitation focused oil and gas company and became a public company listed on the NYSE in the fall of 2000.  Until its ultimate sale in 2004, Westport made significant investments in both acquisition and exploitation activities.  Through these activities, Westport was able to create and enhance value in a portfolio of assets that was ultimately sold for $3.7 billion to Kerr-McGee in 2004.  In 2004, Enduring assembled a team of technical experts and established executives and managers with proven track records of successfully building and harvesting value-creating projects.  The executive management team, along with its independent Directors, premier equity partners and a syndicate of blue chip lending institutions, provided the Company with significant capital.  During its years of operation, Enduring developed positions in a number of key resource plays through the central corridor of the United States and participated in the drilling of several hundred wells in many states.  Value was created through the acquisition of acreage positions, resource delineation, successful application of vertical and horizontal drilling and multi-stage completion technology, and the acquisition and construction of midstream facilities.

Enduring Resources creates value through the identification, acquisition and exploitation of significant resource plays by:

• Focusing on plays with large resource potential. Our experience shows that the greatest value in the exploration and production business is created through pioneering the exploitation of core acreage positions with significant resource potential.
• Focusing on geographies where we have or can transfer industry leading knowledge. Our management team has been successful in the economic development of oil and gas plays from the leasing phase to full scale exploitation in many geographic basins in the United States. With the knowledge base we developed, we opportunistically deploy our expertise to new and evolving plays for best in class execution and results.
• Improving development concepts during delineation. Engineering plays a pivotal role with geology and geophysics in the delineation phase of project development. Optimal value generation is achieved through the continuous improvement of recovering reserves while striving to improve capital efficiency and manage operating costs.
• Deploying advancing technology. The appropriate deployment of new or advancing technologies can enhance economic returns through all phases of project development. As an early, and successful, adopter of new technology, we enhance value as incremental recoverable reserves are unlocked.
• Increasing value through vertical integration. Most newly developing oil and gas plays lack the midstream infrastructure to adequately support upstream operations. In order to maximize our margins and to better control our value chain, we construct critical midstream infrastructure in the areas where we operate, including gathering systems; centralized compression; intrastate pipelines; water production, handling and reconditioning facilities; centralized batteries; gas treatment and liquids extraction facilities.
• Building excellent working relations with landowners and service providers.
• Operating in a prudent, safe and environmentally sensitive manner.
• Creating a workplace where everyone is a winner.

Operations

Enduring Resources focuses its oil and gas operations on onshore plays in the central and western United States.  The Company and its employees have an enthusiasm for finding and producing oil and gas to augment economic growth in the United States at the highest regulatory and ethical standards.  As a North American oil and gas producer, the Company has a proven strategy, has developed reserve bases with a multi-year drilling inventory and has maintained strong presence in emerging and unconventional resources areas.  The Company is active in all phases of the E & P value chain – exploring, acquiring, developing and producing oil and gas.  Our seasoned management and professional team of engineers, geoscientists and landmen have experience in many of the most prolific basins, with expertise ranging from greenfield leasing to full scale exploitation.  Leveraging this internal expertise allows for investment to be directed toward a wide array of assets in a portfolio allocation approach to capital investment.  The Company aims to create an enduring and diversified portfolio of assets, with multiple pay opportunities, and a balance of oil and gas.  Our approach provides the ability to allocate capital to opportunities with the most attractive rates of return within the portfolio through diverse business and economic cycles and further enables the harvesting of assets at appropriate points within these cycles.