Hardy Oil and Gas plc was a British-based oil and gas exploration and production business. It is now based in the Isle of Man and was a former constituent of the FTSE 250 Index.
 | |
| Company type | Public (LSE: HDY) |
|---|---|
| Industry | Energy |
| Founded | 1997 |
| Headquarters | London, UK |
Key people | Paul Mortimer, Chairman Sastry Karra, CEO |
| Revenue | $11,829.6 million (2007) |
| $(813.3) million (2007) | |
| $8,316.0 million (2007) | |
| Website | www.hardyoil.com |
History
editThe business had its origins in a company established by Trafalgar House as Hardy Oil and Gas to exploit North Sea oil reserves in the 1970s.[1]
The business was restructured on merger by S. Karra and Y. Sharma in 1997 as Jehan Energy Ltd to exploit oil and gas opportunities in India.
In 1999 British-Borneo Exploration merged with Hardy Oil and Gas. Charles Reimer became president. Due to the merger changes were made to the executive board - Alan Gaynor was CEO; Peter Hill became technical director and Steve Holliday was international director. Mark Adams, Will Roach, Mike Adams and Mike King were named VPs.[2]
In 1999 Jehan Energy Ltd acquired the Indian interests of the original Hardy Oil and Gas and changed its own name in 2001 to Hardy Oil and Gas plc. (The non-Indian interests were acquired by Eni.)
In 2005 the Company was first listed on the Alternative Investment Market of the London Stock Exchange; it has since moved to the main market.
In 2007 the Company announced a successful well test on the Oza field in Nigeria.[3]
The Company was reclassified as a constituent of the FTSE SmallCap Index on 22 December 2008, thereby dropping out of the FTSE 250 Index and FTSE 350 Index.
The company sold off Hardy Exploration & Production (India) Inc. (HEPI) in October 2019 to Hindustan Oil Exploration Co. Ltd. (HOEC). Hardy effectively became a cash shell
Operations
editThe business was organised into two geographic areas:
References
edit- ^ "Hardy Oil and Gas". Archived from the original on 10 October 2008. Retrieved 1 June 2008.
- ^ "People in Industry - World Oil Online".
- ^ Hardy Oil and Gas provides activity update