Our conventional gas and oil assets produce from the Cardium and Montney formations. These brown field wells show low decline rates annually, resulting in long average well life thus enabling Mojek achieve a reliable stream of free cash flow. The brown field wells mature wells also benefit from simple and low-cost maintenance operations and require low ongoing capex.
Mojek's strict focus on cost controls, maintained through a combination of labour and cost efficiencies, ensures we maintain low-cost operations, thereby maximising profitability and enabling the company to generate free cash flow, even in a low commodity price. By leveraging these efficiencies, Mojek has demonstrated its ability to maximise value by consistently lowering operating costs and will continue to do so as it executes its growth strategy.