KeyfactsEnergy

Parkmead Group

Contacts

Subsidiary Office - Aupec Limited
8 Albyn Terrace, Aberdeen
AB10 1YP

Tel:

The Parkmead Group Plc.
4 Queen's Terrace
Aberdeen AB10 1XL

Tel: 01224 622 200

Description

The Parkmead Group is a UK and Netherlands focused independent energy group listed on the Alternative Investment Market of the London Stock Exchange (AIM: PMG). The Group currently produces gas from a portfolio of four fields across the Netherlands and holds oil and gas interests spanning 26 exploration and production blocks.

Parkmead has significant development opportunities across the UK and Netherlands, including the Greater Perth Area development located in the UK Central North Sea.

The Group also holds interests in a portfolio of exploration prospects alongside leading international partners.

Parkmead is continually expanding its portfolio of high quality assets covering the three main areas of E&P operations; exploration, development and production.

Production
As at December 2018, Parkmead produces approximately 650 barrels of oil equivalent per day from a portfolio of four gas fields in the Netherlands. Parkmead holds a 7.5% to 15% working interest in four producing onshore gas fields in the Netherlands; Geesbrug, Brakel, Grolloo and Diever West.

Reserves

Net 2P reserves of 45.7 MMBoe as at 1 March 2020 (46.0 MMBoe as at 1 March 2019)
Net 2C resources of 100.8 MMBoe as at 30 September 2019 (101.8 MMBoe as at 30 September 2018)

Development
Parkmead holds a selection of assets in the development stage of the asset life cycle. The company operates the Greater Perth Area ("GPA") oil hub project in the UK Moray Firth, and holds stakes in a number of nearby oil fields which could potentially form part of a large joint development, such as Lowlander, Polecat and Marten. In addition, Parkmead has a stake in the Platypus gas development in the Southern North Sea and a number of oil and gas developments in the Netherlands.

Exploration
Parkmead has interests in numerous exploration blocks in the UK and Netherlands, ranging from high impact exploration in the UK West of Shetlands to near-term exploration onshore Netherlands. The group was awarded interests in 9 blocks in the UKCS 30th Licensing Round. This builds upon prior success in the UKCS 27th and 28th Licensing Rounds, where interests in 30 and 12 blocks were awarded respectively.

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