A sharp eye for NCS opportunities
Pandion Energy is a private, full-cycle oil and gas company on the Norwegian continental shelf
driving value by maturing resources to reserves in high quality assets.
Pandion Energy awarded two new APA Licenses
Oslo, 15 January 2019:
Pandion Energy has been awarded two licenses under the 2018 Norwegian APA (Awards in Pre-defined Areas) License Round on the Norwegian Continental Shelf.
Subscribe to our newsletter
Pandion Energy reaches production of 5,000 barrels per day
Oslo, 04 January 2019:
In December 2018, Pandion Energy reached average daily production of 5,000 barrels per day. This was achieved in less than 12 months since the completion of the Valhall & Hod transaction with Aker BP, in which the Company acquired a 10 percent interest in the assets, and only 1,5 years after the Company was prequalified as a partner on the NCS.
Pandion in brief
A private, full-cycle oil and gas company on the Norwegian continental shelf driving value by maturing resources to reserves in high quality assets.
Pandion Energy is a private oil and gas company with interests in licenses on the Norwegian continental shelf (“NCS”), headquartered in Oslo. The company was founded in November 2016 to perform a management buyout of the operational platform and licenses of Tullow Oil Norge AS, previously Spring Energy Norway AS.
We have a strategy to drive value in high quality assets, and our investments are based on a full cycle investment mandate.
The company is backed by Kerogen Capital, an independent private equity fund manager specialising in the international upstream oil and gas sector. We are a proven team of highly experienced and commercial oil and gas professionals with strong geological, geophysical and reservoir competence and extensive project execution experience on the NCS.
Our business model
Pandion Energy is a private, full-cycle oil and gas company on the Norwegian continental shelf driving value by maturing resources to reserves in high quality assets.
Our business model includes participating in the discovery, appraisal, development and production of oil and gas resources. We aim to grow our asset base by targeting upsides in and around proven assets with access to processing and transportation capacity. Other sources of attractive growth opportunities include mergers and acquisitions, farm-ins and participation in licensing rounds.
Our ability to create long-term, lasting value rests on maintaining high standards of governance, sustainable business practices and operations.
As an integral part of this, we strongly believe that sound business decisions are a product of a strong team, an active board and a competent owner.
Our history
Pandion Energy was founded in November 2016 to perform a management buyout of Tullow Oil Plc’s Norwegian subsidiary, Tullow Oil Norge AS.
The history of Pandion Energy began with the formation of Spring Energy in 2007. Backed by private equity fund manager HitecVision, Spring Energy participated in several commercial oil and gas discoveries on the NCS from 2009 to 2011 and was soon after, in late 2012, acquired by Tullow Oil.
Less than one year later, in the autumn of 2013, Tullow Oil took part in the large Wisting oil discovery in the Barents Sea, a prospect within a new play identified by the Spring Energy team.
Three years after the acquisition of Spring Energy, Tullow Oil decided to focus on its core assets in Africa and South America, resulting in an exit from Norway.
With the support from headquarters, a group of key personnel initiated a management buyout of the Norwegian subsidiary, resulting in the establishment of Pandion Energy.