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Sand Hill Petroleum

Contacts

O&G Development Ltd.
Lövoház Street 39.
Budapest, Hungary
1024

Tel: +36 1 808 9001

O&GD Central Ltd.
Lövoház Street 39.
Budapest, Hungary
1024

Tel: +36 1 808 9001

Sand Hill Petroleum BV
Atrium, Strawinskylaan 3051
Amsterdam
Netherlands 1077 ZX

Tel: +31 (0)20 301 2198

Description

In December 2012, Warburg Pincus led a significant line-of-equity commitment to Sand Hill Petroleum BV, a newly-formed oil and gas E&P company with subsidiaries in Budapest, Hungary and Bucharest, Romania. The company is focused on the Pannonian Basin in Hungary and Romania. Sand Hill Petroleum BV plans to apply modern North American exploration technology - including advanced 3D seismic acquisition and processing - to mature onshore areas with the goal of identifying overlooked conventional resources, predominantly natural gas. Following an initial exploration phase, the company plans to develop its discoveries into producing reserves. The company is led by an experienced management team with extensive knowledge of the fundamentals of hydrocarbon exploration and the business environment of the European Continent.

Sand Hill Petroleum BV has acquired a significant exploration position in Hungary; drilled ten exploration wells and acquired a new, 500 sqkm 3D seismic survey on its Körös License. In light of positive well results, the company commenced gas production in September 2015.

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