Our Business Model
Our Business Model
We are and oil and gas company. United’s business model is to hold assets within the oil and gas life cycle to deliver value for the shareholders.
We review our portfolio regularly and our assets are monetised at different stages of the oil and gas life cycle to optimise the portfolio and value creation.
What we need to execute our business model
Our people, our strengths and capabilities
- Business ethics and integrity
- Highly skilled subsurface, commercial, and finance teams who have
considerable experience with capital markets - A track record of delivery
- Strong industry relationships
Our assets & portfolio
- In Jamaica, we have an estimated 7 billion barrels unrisked arithmetic mean prospective/mid-case resources across the basin.
- Onshore UK, in Waddock Cross we have significant Stock Tank Oil Initially in Place volume of 57 million barrels, as well as a new horizontal well being planned which could yield commercial production of 500-800 bopd (gross) and up to 1 million barrels of recoverable oil (gross).
- We actively manage our portfolio to achieve best commercialisation opportunities at the right time of our current portfolio.
- We look to also grow by pursuing new venture opportunities that meet our investment criteria.
- We commit to working responsibly across all our activities. This means working in a safe, secure, environmentally, and socially responsible manner.
Financial flexibility and resilience
- We have a balanced capital allocation policy with the focus to enhance the value of our high impact assets.
- We have access to capital markets and have established relationships with debt and equity providers.
What we do
Explore, Appraise, Develop
We explore for oil and gas in our existing licences. We seek to develop projects and drill wells on existing discovered reserves and resources to produce oil and gas. We aim to maximise returns through our low-operating costs. We conduct operations responsibly and safely.
Grow
Organic growth through disciplined and careful reinvestment into existing assets that will generate value.
Inorganic growth via acquisitions with a focus on production.
Monetise
We are an oil and gas company. Our business model is to hold assets within the oil and gas life cycle to deliver value for stakeholders. We review our portfolio regularly and our assets are monetised at different stages of the oil and gas cycle to optimise the portfolio and value creation.
Responsible value creation
We are committed to making a positive contribution, wherever we do business by delivering tangible benefits to our stakeholders. This includes the value distributed through salaries, taxes, payments to authorities, contractors and suppliers, capital spending and social investment.
Shareholders and financing partners
Oil and Gas revenue and cashflows when in production
Employees
Zero incidents recorded for LTI’s
Salaries and benefits
Business partners and suppliers
National economic growth through local sourcing , employment and using local suppliers
Governments and regulators
Payments to Governments via royalties, taxes and levy’s
Local community investment
Social Investment into capacity building
Joint operating companies, have contributed to national economic growth through local employment , training and industry upskilling
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