Summary:
Tiverton Petroleum Ltd. is a junior public oil and gas exploration
company operating largely in Southeastern Alberta. From 2000 to
2003, Richard Monette consulted with Tiverton with the primary
intent to increase Tiverton production and value to shareholders.
Clear Intention:
Through a process of strategic planning, corporate coaching and
performance facilitation, Tiverton identified their primary intention
as INCREASED MOMENTUM -- to increase production and value faster.
This CLEARER INTENTION required that every part of the Tiverton
process be revised to deliver a quicker progression from idea
(where they thought they could find oil and gas) to capital expenditures
(drilling the well) to cash flow (revenue from the oil and gas
production)
The Major Shift:
Tiverton soon realized that the way they had done business for
twenty years would not deliver their INTENTION of INCREASED MOMENTUM.
In a period of 6 months they completely re-engineered the entire
company. Tiverton abandoned the model in which they came up with
fairly expensive drilling locations that would be drilled by another
company who could afford the cost. They sold the locations they
could not afford to drill and focused on smaller drilling locations
where they could afford to drill. They became a full-cycle production
company. By doing so, they took control of the TIMELINE which
used to be in their partners' hands.
The Result:
Between 2000 and 2003, Tiverton production and market capitalization
increased five and a half times. Tiverton transformed itself from
a flatliner producer to a fast rising company, much to the delight
of its shareholders...
