Wilmington organizes its business into a number of distinct operating platforms which we develop and maintain to ensure that the underlying assets are effectively managed and their values are enhanced in the near to longer term timeframes.
Real Estate – Self Storage Facilities
Wilmington holds a 42.5% interest in Real Storage Private Trust, which owns a portfolio of 23 self-storage facilities containing 961,421 square feet of net rentable area located in Alberta, British Columbia and Ontario and an interest in a development property in Ontario. Wilmington believes the Trust is currently the fourth or fifth largest owner, operator and developer of self-storage facilities in Canada.
Energy – Natural Gas Assets
Wilmington, through Shackleton Partnership, which the Corporation holds a 59% interest, owns a 100% working interest in the Shackleton Field encompassing 16,154 acres (or 25 sections) of contiguous land in the Milk River basin in Saskatchewan with total proved plus probable reserves as at December 31, 2014 in the amount of 14,728 Gross Mmcf (12,067 Net Mmcf) (2,455 Gross Mboe/2,011 Net Mboe) including a 100% owned gas gathering and processing system. Production for the month of December 2014 averaged 3,268 Mcf/d (or 545 Boe/d) of sweet natural gas from 100 wells. The Shackleton natural gas assets are long life assets and have a number of embedded opportunities for optimizing production.
Wilmington holds a 38.6% interest in Northpoint Resources Ltd., a private energy company with natural gas assets in the Altares area of Northeastern British Columbia. Northpoint holds 24,331 net acres with proved plus probable reserves as at December 31, 2014 in the amount of 38,075 Gross Mmcf (33,924 net Mmcf) (6,521 Gross Mboe/5,790 net Mboe). Sales for the month of December 2014 averaged 7,170 Mcfe/d (1,195 boe/d).
Wilmington holds a 50% interest in Network Capital Management Inc., a Calgary based investment company with a proven track record in capital management that spans over 19 years. NCMI’s primary business is focused on raising and deploying private equity having a mandate to identify and invest in early stage opportunities principally in energy and energy related services. As at December 31, 2014, NCMI managed approximately $56 million of funded and committed capital (Wilmington’s share $8 million). The rapid formation of early stage oil and gas companies operating in Canada’s western basin and employing new drilling technology provides NCMI with the unique opportunity of continuing to deliver strong returns to its investors.