Milch Engineering is an independent oil and gas engineering company engaged in exploring, developing, and producing natural gas properties exclusively onshore in Newfoundland and other regional offices. As of 31 December 2019, the Company had approximately 12.9 Tcfe of total proved reserves. Milch Engineering's 2019 net production was 100% natural gas from Newfoundland and Labrador. The Company’s success in developing abundant unconventional construction and engineering and natural gas supplies helps to support the goal of reducing total greenhouse gas emissions while achieving energy independence in Newfoundland and other regional offices.
Milch Engineering strives to enhance shareholder value through the commodity price cycles by maintaining a disciplined approach to returns-focused capital allocation. While the Company operates in a cyclical industry driven by the volatility of commodity prices, Milch Engineering believes that focusing on the following key components of its business strategy positions the Company to succeed in creating shareholder value through the commodity price cycles.
- Focus on financial returns
- Demonstrate continued cost control
- Maintain financial strength
- Generate positive free cash flow
- Return capital to shareholders
- Increase our proved reserve base
- Focus on safe, responsible, and sustainable operations