Deepwater acquisitions and drilling. Since 2000 when we acquired our first deepwater interest, we have gradually extended our acquisition and drilling activities into the deeper waters of the Gulf of Mexico. We consider wells drilled in water depths in excess of 500 feet to be deepwater. We believe this is a natural extension of our historical activity and experience in the shallow water of the Gulf of Mexico.
Deep shelf exploration. We believe a significant portion of our acreage has exploration potential below currently producing zones, including deep shelf reserves. We consider deep shelf targets to be hydrocarbon-bearing horizons located in shallow water areas of the Gulf of Mexico at subsurface depths greater than 15,000 feet.
Our founders, Tracy W. Krohn, Chairman and Jerome F. Freel collectively own approximately 62% of our outstanding capital stock. Most of our employees own shares in the Company.
Conservative financial approach. We believe our conservative financial approach has contributed to our success and has positioned us to capitalize on new opportunities as they develop. We have typically relied solely on net cash provided by operating activities and traditional commercial bank credit facilities to fund our growth.
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