Foragaz is the only company in Québec specialized in oil and gas drilling. It holds twenty-five employees as well as equipment that can be used to either drill a well, perform maintenance or completion of a well.
Given the limited financial resources available to Junex in the first years, managing costs and maximizing the benefits of each investment were constant concerns throughout its corporate history. In this perspective, we have adopted a business model uncommon in Canada that integrates drilling activities to the main exploration activity. In fact, Junex holds 100% of its drilling division Foragaz, created in 1988, but acquired by Junex in 2004. During all these years, Foragaz has developed a local expertise in drilling and completion of oil and gas wells.
In addition to allowing a better management of exploration costs, Foragaz ensures Junex instant access to drilling equipment when the company is ready to invest its exploration capital. In 2010, Foragaz has greatly enhanced its equipment by building a new rig that will ensure greater efficiency of operations. Because of its business model, Junex now possesses a high-level of scientific expertise as well as a hands-on operational expertise specific to oil and gas activities.