HitecVision’s new oil company now in operation

Norway-based investment fund HitecVision has announced that the merger between its portfolio companies Core Energy, Spike Exploration and Pure E&P has been completed, and the new company Point Resources is formally established and operative. 

HitecVision in January announced the merger of its portfolio three companies to form a mid-sized independent oil company focused on the Norwegian Continental Shelf. CEO Roar Tessem leads a team of more than 50 employees at offices in Oslo and Stavanger.

According to HitecVision’s statement on Wednesday, Point Resources is a new full-profile E&P company on the Norwegian Continental Shelf, with $300 million in new capital to fund growth through acquisitions and business developments over the next five years.

The company’s license portfolio includes a production base of about 9,000 barrels of oil equivalent per day; holdings in several discoveries that are expected to be developed over the coming years: Pil (45%), Garantiana (30%), and Snilehorn (17,5%); as well as an exploration portfolio.

Share this article

Follow Offshore Energy Today

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

Offshore Energy Exhibition and Conference (OEEC) 2020

Offshore Energy addresses the technical, operational and commercial challenges associated with future sector growth.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply