Our production today is about 43% crude oil, 57% natural gas. Our market cap is $1.3 billion, we have approximately $643 million in debt, only about $88 million of that is on our senior facility. Our enterprise value is right at $2 billion, our debt to enterprise value is 33%, a very strong balance sheet, a very good position to execute on our growth through acquisition strategy. As I mentioned earlier, we have assets that are long-lived mature fields, very low decline, very stable production profiles. We operate in virtually all of our production, therefore we have a strong control over expenses, we have very good control of our operating costs and we have very high visibility into production, therefore we know what our cash flow generating capacity is, assuming that we hedge our production which we do quite a bit of.
We have a substantial book of low-risk development opportunities. We'll be drilling a number of oil wells this year. When gas prices rebound, we will switch over to gas. One of the nice things about our business is we are balanced between the two and we have the flexibility to move our capital from oil to gas and from gas to oil when the time permits. On the oil side of the business, I believe we will spend about 90% of our capital budget this year. On the oil business, yet in the gas side of the business, we have well over 600 development opportunities when gas prices rebound. And we do hedge consistently and aggressively and the hedge book supports our ability to make distributions. We have been in business for many years, we have a very strong team with experience throughout the energy industry and throughout the oil and gas business in the United States. We actually have technical and operating people that worked in virtually every basin in North America. And we have a significant history with the BreitBurn assets. Many of these assets we have owned for north of 20 years. As I mentioned earlier, we have been in business for a long time, we have employed the same strategy successfully. Buy large oil and gas fields, put technology to work and let new technologies come to you, we believe you increase reserves, you increase production and you increase value. You couple that with strong operational control as well as a very strong and aggressive hedge book and you have quite a bit of visibility towards your cash flow generating capacity going forward.Well across the country now. We started the business in Southern California buying large oil and gas fields from major oil companies. We have since grown to be in six states, we are the largest or second largest gas producer, we are not sure how to measure it. We claim to be the largest gas producer in Michigan. Chevron claims to be number one, we will probably not battle them over that. But we are the largest gas producer or the second largest producer in state of Michigan. We have about 75 million barrels equivalent of gas and oil reserves there. The vast majority of that prove develop, we don't have a lot of non-producing reserves booked in Michigan.
However if gas prices rebound and when gas prices rebound, we do have hundreds of drilling locations in Michigan. So we have the ability to hold that business flat and grow the business depending upon how we choose to allocate capital going forward. Another strong gas area for us is Indiana Kentucky, it's not a large business for us, but we have a significant acreage position in the New Albany Shale which is primarily held by production. We don't produce a significant amount now, however if technology opens the New Albany Shale up and makes it economic or if gas prices rebound we have the potential to grow that business. Read the rest of this transcript for free on seekingalpha.com