Operations Overview



Harvest has a strong platform for sustainable long-term growth from our producing assets in Venezuela combined with our global exploration portfolio. Our 32 percent share of Petrodelta, S.A. (Petrodelta) provides a solid foundation of reserves and production growth in a hydrocarbon-rich region with low technical risk. Our exploration portfolio consists of high-impact, technically driven prospects located in proven active hydrocarbon systems having significant resource potential.


Recent accomplishments include:

 

  • Completed the conversion process for our Venezuelan assets, clearing the path for development drilling and assessment of new properties.

  • Reported Proved reserves of 43.3 million barrels equivalent from our 32 percent equity in Petrodelta.

  • Increased oil production from 13,300 barrels of oil per day (BOPD) in Q1 2008 to 24,000 BOPD in May 2009.

  • Developed an exploration portfolio with assets in existing hydrocarbon regions located in the United States, Oman, Indonesia, Gabon and China.

  • Established a debt-free balance sheet, aligning our capital structure with our exploration business strategy.

  • Increased our equity interest in Fusion Geophysical, LLC to 49 percent.