Exploration and Beyond
Various subsidiaries of HEYCO Energy Group have been involved in international exploration for more than 20 years, having operated exploration projects in England, Spain, and Morocco. The company currently holds non-operated interests in England, Spain, and France.
Petrichor Euskadi holds a working interest in five exploration permits in northern Spain with unconventional gas potential. The operator is Sociedad de Hidrocarburos de Euskadi (the Basque National Oil Company).
Through the subsidiary Petrichor France, the company holds a working interest in the Navacelles exploration permit, operated by eCorp, in southern France. The group is currently studying the existing data and plans to obtain additional seismic.
HEYCO holds an equity interest in Egdon Resources plc. Egdon has a number of onshore licenses in the UK and France, with active exploration, appraisal, and development projects. HEYCO was part of the group that discovered the Avington field in southern England in 2007; it converted its interest in the field into an interest in Egdon in 2009.
Through Petrichor UK Ltd, the company was granted non-operated working interest in in the onshore UK East Midlands Basin as a result of the 14th onshore bidding round. The permits granted were PEDL 348, operated by Third Energy and PEDL 334 and PEDL 306, operated by Egdon. These three permits represent 27,200 net acres in the highly prospective Bowland Shale play and also have potential in conventional reservoirs.