Velvet Energy Ltd. is a privately-held, full-cycle exploration and production company. Focused in the liquids-rich gas and light oil window of the Deep Basin of Alberta, the Company executes an organic growth business plan, including early land capture, technical evaluation, exploration and development of internally generated prospects. Headquartered in Calgary, Velvet has current production of approximately 31,000 boe per day (43% liquids) and a land position of over one million net acres spanning from its core liquids-rich Ellerslie development in the greater Edson area to Montney light oil development at Karr/Gold Creek and earlier phase Montney oil projects at Pouce and Flatrock, B.C. From start-up in 2011, Velvet has realized a 5-year compound growth rate in production of 25%, with over 95% added via the drill bit. Velvet is differentiated by the geo-technical rigour it employs to generate organic growth and by its integrated risk management program thatlooks to manage risk through the entire value chain, including an active and systematic commodity hedging program. Exploration is a key component of Velvet’s business plan and is viewed as crucial in expanding an inventory of opportunities and projects to achieve long term sustainable growth and to generate competitive full-cycle returns on investment. Velvet’s management team has a proven track record of achieving consistent production, reserve and asset value growth in the Western Canadian Sedimentary Basin. The company is well-capitalized, having to-date raised $672 million of equity supported by its three private equity investors, including Warburg Pincus, 1901 and Trilantic Capital Partners and more recently, the addition of Canada Pension Plan Investment Board as a strategic equity partner.
CORPORATE RESPONSIBILITY
Velvet Energy Ltd. is committed to safeguarding human health and the environment in all of its operations and endeavours. In support of this commitment, Velvet has integrated the following objectives into the decisions affecting company operations:
TEAM COMMITMENT
We expect excellence in health, safety and environmental performance through the support and active participation of all management, employees and contractors working for Velvet. All those engaged in work for Velvet are aware of this policy and are expected to be committed to its implementation. ESTMA PAYMENTS TO GOVERNMENT Velvet Energy Ltd. is required to report annually under the Extractive Sector Transparency Measures Act (“ESTMA”) enacted by the Government of Canada, beginning with the year ended December 31, 2016. Velvet’s 2016 and 2017 ESTMA Reports can be viewed from the links below. Payments reported in the ESTMA Report reflect gross payments made directly by Velvet Energy, including payments made in the capacity of operator on behalf of partners. Payments made by an operator on behalf of Velvet Energy and its subsidiaries are not included.
Company Name | Velvet Energy Ltd |
Business Category | Renewable Energy |
Address | Suite 1500, 308 4th Avenue SW Calgary Alberta Canada ZIP: T2P 0H7 |
President | KEN WOOLNER P.ENG |
Year Established | 2011 |
Employees | NA |
Memberships | NA |
Hours of Operation | NA |
Phone Number | Locked content | Subscribe to view |
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Name | Position | Contact Details | Subscribe to view |
*** | President & Chief Executive Officer and Director | Locked content | |
*** | Vice President, Midstream & Marketing | Locked content | |
*** | Chief Financial Officer | Locked content | |
*** | Vice President, Production | Locked content |