Exploiting unique acquisition opportunities for indigenous independents
Our robust portfolio of oil and gas fields is comprised of interests in onshore and offshore producing assets, across the Niger Delta basin and on the continental shelf.
As international oil companies shift their focus even more to offshore projects, they are divesting their onshore assets, offering opportunities for indigenous independents to acquire reserves and resources.
Production, reserves & resources
OER is well positioned as a leading E&P player in the Nigerian Oil and Gas sector, as measured by our 2013 Independent Reserves Evaluation report.
Key facts: Proved plus Probable Reserves of 230.6 MMboe; Best Estimate Contingent Resources of 536.8 MMboe; Unrisked Best Prospective Resources of 2,057.0 MMboe; and H1, 2014 production of 44,512 boe/d.
With a core objective of continuously growing our production and reserves, our focus is in the optimisation of our existing asset portfolio and participation in governmental bid rounds in Africa, acquiring unutilised near-term production assets from International Oil Companies during divestment programmes.
Oando Energy Resources Completes Landmark Acquisition of ConocoPhillips Nigeria
CALGARY, ALBERTA July 30, 2014 - Oando Energy Resources Inc. ("OER" or the "Company") (TSX: OER), a company focused on oil and gas exploration and production in Nigeria, today announced the completion of its acquisition of the Nigerian Upstream Oil and Gas Business of ConocoPhillips (NYSE: COP) for a total cash consideration of US$1.5 billion after customary adjustments plus a deferred consideration of US$33 million (the "Transaction").
Publicly listed on the Toronto Stock Exchange
Oando Energy Resources obtained listing approval from the Toronto Stock Exchange (TSX) to begin trading on Monday, July 30, 2012, with the ticker symbol ‘OER’. The company is continually seeking opportunities to acquire producing and near-production assets, which will attract a diverse range of investors with an appetite for exploration and production investments for future capital raises.