NAL Resources manages approximately 46,500 (28,500 net to the Corporation) boe per day and operates 90 percent of this production on behalf of NAL Energy Corporation (the "Corporation") and a subsidiary of Manulife Financial Corporation, a major Canadian financial institution. There are currently over 350 dedicated team members working at NAL in Western Canada. Our core areas include southeastern Saskatchewan, central Alberta and northeastern British Columbia.
The Corporation is a public entity traded on the Toronto Stock Exchange as NAE, and was created in 1996 from assets that were previously owned by a number of insurance companies including North American Life.
NAL Energy Corporation’s strategic direction remains clearly focused on maximizing cash flow to deliver competitive total returns which balances the monthly dividend with sustaining capital expenditures. In the near term, the Corporation will continue to allocate capital primarily to its light oil properties with a higher proportion of capital dedicated to lower risk development projects, which are expected to deliver improved volume certainty going forward. We will continue to pursue the selective acquisition of new properties and core areas that meet our acquisition criteria, enhance our strategic position and add value to our shareholders.