News

August 13, 2008

Melrose Resources Offers Diverse Exposure To Oil, Gas, And Gas Storage

By John Hughman

Edinburgh-based Melrose Resources is an oil and gas explorer and producer with a wide-ranging portfolio that includes interests in Egypt, Bulgaria, the United States, France and Turkey. Its operations span a range of activities, from offshore gas production in Bulgaria and deepwater exploration offshore France, to the development of more mature fields, including onshore oil and gas fields in the US and Egypt.

In 2007, Melrose produced 32.9 million cubic feet of oil and gas equivalent (mcfe) per day, or, looked at the other way round, 15,015 barrels of oil equivalent (boe) per day. In fact it was a mixture of oil and condensate, and gas, with gas making up the bulk of production. All-told, that output generated revenue of US$158 million for Melrose. This year production is expected increase by around a third to 20,000 boe a day this year. Most of the revenues come from the company’s mature Galata gas...