As an oil and gas company, Bowles Energy, Inc., exists to create projects and administer them on behalf of the investors who won them. Thus, the firm's primary responsibility is to its owners. This means doing everything expected of a prudent operator to generate optimum returns over the life of each project, disburse cash flow in a timely fashion and keep owners informed so as to avoid adverse surprises. Satisfaction of the investors is constantly sought as a crucial key to continued growth and success. At the same time, the company acts on behalf of the mineral and royalty interest owners who, through leases, have entrusted it with development of their own property. Similarly, Bowles Energy, Inc., is responsible to surface owners for minimizing damages and accompanying their use of land.
Finally, underlying everything the firm does, are the duties of a good, corporate citizen to respect and preserve the natural environment and conduct all operations with the highest degree of personal safety for everyone involved.
Ownership of a project established by a participation agreement between each investor and Bowles Energy, Inc. This contract establishes the investor's percentage of the working interest in specific new wells to be drilled or existing wells to be worked over or recompleted, all in accordance with a detailed plan. (Some projects involve only one well.) The plan includes mineral leases covering certain land areas and certain depths or stratigraphic formations. Rules for operating the wells are spelled out in a separate agreement. The company's profits consist of a "promote" fee (paid out of the initial investment) and management fees charged during the life of the project - all relatively small and specified in the initial agreements. Up-front charges may also include costs already incurred for purposes such as geophysical exploration and acquiring leases. The firm's records for each project are open for inspection by the owners or their representatives at any time. Financial accounts are independently audited every year.
Among the many intangible assets of Bowles Energy, Inc. are long-term, mutually beneficial relationships with certain contractors and service providers. For instance, supposed a geologist with whom Bowles companies have dealt for years discovers an existing opportunity. He is likely to confie it to Bowles Energy, Inc., rather than another operator because of the fair treatment received in the past. Similarly, when there is intense competition for drilling rigs, workover rigs, fracturing stimulation services or frac tanks, Bowles Energy, Inc. can schedule those requirements in a timely fashion so that the fleeting opportunities are not missed. Contractors' faith in the company is so high that some of them invest in its projects. The same well-earned trust is the basis of repeat business by many individuals and organization that have invested with Bowles throughout the years.
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