Hardy Oil and Gas
Encyclopedia
Hardy Oil and Gas plc is a leading British
-based oil
and gas
exploration and production business. It is headquartered in London
and is a former constituent of the FTSE 250 Index
.
as Hardy Oil and Gas to exploit North Sea
oil
reserves in the 1970s.
The business in its present form was founded by S. Karra and Y. Sharma in 1997 as Jehan Energy Ltd to exploit oil
and gas
opportunities in India
.
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
.
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
.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
-based oil
Oil
An oil is any substance that is liquid at ambient temperatures and does not mix with water but may mix with other oils and organic solvents. This general definition includes vegetable oils, volatile essential oils, petrochemical oils, and synthetic oils....
and gas
Gas
Gas is one of the three classical states of matter . Near absolute zero, a substance exists as a solid. As heat is added to this substance it melts into a liquid at its melting point , boils into a gas at its boiling point, and if heated high enough would enter a plasma state in which the electrons...
exploration and production business. It is headquartered in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
and is a former constituent of the FTSE 250 Index
FTSE 250 Index
The FTSE 250 Index is a capitalisation-weighted index consisting of the 101st to the 350th largest companies on the London Stock Exchange. Promotions to and demotions from the index take place quarterly in March, June, September and December...
.
History
The business has its origins in a company established by Trafalgar HouseTrafalgar House (company)
Trafalgar House Public Limited Company was a British conglomerate with interests in property investment, property development, engineering, construction, shipping, hotels, energy and publishing...
as Hardy Oil and Gas to exploit North Sea
North Sea
In the southwest, beyond the Straits of Dover, the North Sea becomes the English Channel connecting to the Atlantic Ocean. In the east, it connects to the Baltic Sea via the Skagerrak and Kattegat, narrow straits that separate Denmark from Norway and Sweden respectively...
oil
Oil
An oil is any substance that is liquid at ambient temperatures and does not mix with water but may mix with other oils and organic solvents. This general definition includes vegetable oils, volatile essential oils, petrochemical oils, and synthetic oils....
reserves in the 1970s.
The business in its present form was founded by S. Karra and Y. Sharma in 1997 as Jehan Energy Ltd to exploit oil
Oil
An oil is any substance that is liquid at ambient temperatures and does not mix with water but may mix with other oils and organic solvents. This general definition includes vegetable oils, volatile essential oils, petrochemical oils, and synthetic oils....
and gas
Gas
Gas is one of the three classical states of matter . Near absolute zero, a substance exists as a solid. As heat is added to this substance it melts into a liquid at its melting point , boils into a gas at its boiling point, and if heated high enough would enter a plasma state in which the electrons...
opportunities in India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
.
In 1999 Jehan Energy Ltd acquired the Indian
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
interests of the original Hardy Oil and Gas and changed its own name in 2001 to Hardy Oil and Gas plc. (The non-Indian
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
interests were acquired by Eni
Eni
Eni S.p.A. is an Italian multinational oil and gas company, present in 70 countries, and currently Italy's largest industrial company with a market capitalization of 87.7 billion euros , as of July 24, 2008...
.)
In 2005 the Company was first listed on the Alternative Investment Market
Alternative Investment Market
AIM is a sub-market of the London Stock Exchange, allowing smaller companies to float shares with a more flexible regulatory system than is applicable to the main market....
of the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
; it has since moved to the main market.
In 2007 the Company announced a successful well test on the Oza field in Nigeria
Nigeria
Nigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in...
.
The Company was reclassified as a constituent of the FTSE SmallCap Index
FTSE SmallCap Index
The FTSE SmallCap Index is an index of small market capitalization companies consisting of the 351st to the 619th largest listed companies on the London Stock Exchange main market...
on 22 December 2008, thereby dropping out of the FTSE 250 Index
FTSE 250 Index
The FTSE 250 Index is a capitalisation-weighted index consisting of the 101st to the 350th largest companies on the London Stock Exchange. Promotions to and demotions from the index take place quarterly in March, June, September and December...
and FTSE 350 Index
FTSE 350 Index
The FTSE 350 Index index is a market capitalisation weighted stock market index incorporating the largest 350 companies by capitalisation which have their primary listing on the London Stock Exchange. It is a combination of the FTSE 100 Index of the largest 100 companies and the FTSE 250 Index of...
.