We are an independent oil and gas company primarily engaged in the activities of acquiring, developing, exploring and producing oil and gas properties primarily in the United States. We own oil and gas properties with principal operations in:

• the Los Angeles and San Joaquin Basins onshore California;

• the Santa Maria Basin offshore California;

• the Piceance and Wind River Basins in the Rocky Mountains;

• the Haynesville Shale in North Louisiana and East Texas;

• the Permian Basin in West Texas and New Mexico;

• the Anadarko Basin in the Texas Panhandle; and

• the South Texas and Gulf Coast regions, including the Gulf of Mexico.

Assets in our principal focus areas include mature properties with long-lived reserves and significant development opportunities as well as newer properties with development and exploration potential. In addition to the assets in our principal focus areas listed above, we also have interests in exploration prospects offshore New Zealand and Vietnam.