Areas of Operations
The Southern Ute Indian Tribe formed Red Willow in 1992 to take greater control over the
Tribe’s energy resources in the San Juan Basin. Red Willow became an operator and also a
working interest partner in non-operated wells. Since that beginning, Red Willow has
diversified our asset base beyond the reservation and now has reserves and production in
the Deep Water Gulf of Mexico, the Delaware Basin in West Texas and Jonah Field in the
Green River Basin, Wyoming.
Red Willow is organized around an Onshore Division and Deep Water Gulf of Mexico Division.
Growth areas in the onshore division currently include the San Juan Basin and the
Delaware Basin. Red Willow’s activity in the San Juan Basin is focused on the
Southern Ute Indian reservation located in Southwestern Colorado. Production is
primarily coal bed methane from the Fruitland Coal with some conventional
production from the Mesa Verde, Pictured Cliffs, and Dakota formations.
Red Willow operates approximately 400 wells and is a non-operating partner in
approximately 900 wells. Operators include BP, ConocoPhillips, ChevronTexaco,
and Elm Ridge. Well spacing is predominately 160 acres providing a substantial
inventory of 80 acre infill drilling opportunities.
Red Willow’s assets in the Delaware Basin are located in Reeves County, Texas.
Red Willow currently does not operate in the Basin and has partnered with
established regional operators such as Oxy and Concho. Red Willow has working
interests in over 180 wells in the basin.
Red Willow actively pursues investment opportunities in exploration,
exploitation and development activities. Internal basin teams, our existing
partnerships and outside sources generate many of these opportunities.
We pride ourselves as being a good partner and work hard to maintain
professional relationships in the industry. We plan to grow in areas that
we can build core developments yet maintain a diversified investment
portfolio. In addition, we have an experienced team of geoscientists and
engineers that are fully competent to explore and operate in the Rockies
and Mid-Con areas. Our strong balance sheet and unlevered financial
position gives us flexibility with our investment strategy.
Deep Water Gulf of Mexico Division
Red Willow’s assets in the Deep Water are located in Mississippi Canyon,
Green Canyon, and Atwater Valley regions. Producing assets include
several wells in the Delta House complex, operated by LLOG, in
Mississippi Canyon, and the Galapagos project area in Mississippi Canyon
block 519 with two wells operated by Noble. The Big Bend East discovery
in MC 698, operated by Noble, is under development and scheduled for
first production in October, 2015. Red Willow has an inventory of over
30 prospects and holds over 80,000 net acres in the Deep Water.
The Deep Water program has been very successful and has significant
upside potential. Red Willow does not operate in the Deep Water,
but partners with companies that are successful oil finders and