Just the best stock from a consensus of experts. Find out more and how to subscribe. In the East Breaks area, we are developing both the Nansen and Boomvang fields in a partnership with Kerr-McGee. These discoveries will positively impact the overall reserves of the company and contribute to our low finding and development costs in 2000. We also had another discovery on the Magnolia prospect, a Conoco-operated property in the deepwater Gulf of Mexico that has been delineated and where we are conducting further drilling.
Ocean now has two good years in a row of very strong finding and development costs.
This is largely a result of the changeover in our exploratory leadership, staff additions and the new risk management tools introduced following our 1999 merger. It is also a reflection of the quality of our inventory of drillable prospects. Another strong point is that we have greatly improved our balance sheet and should be able to steadily increase production growth for several years forward off of our larger reserve base. We have made major strides in creating a stronger exploration and production company since the last time we talked. We had hoped for at least one deepwater discovery, and now we have several.