Home > About us > History

History

Oryx Petroleum was founded by AOG in September 2010.

 

Our creation was inspired by the success of Addax Petroleum, which was founded by AOG in 1994, listed on the Toronto Stock exchange in 2006 and then sold to Sinopec in 2009. At the time of its sale, Addax Petroleum had oil interests in 25 licenses, was producing more than 140,000 bbl/d and had more than 500 MMbbl of proven plus probable oil reserves.

 

Key events since our founding in 2010 include:

 

  • August 2011 - acquired a 65% participating interest in the Hawler license area, an exploration license area that at the time of its acquisition covered 1,532 km2 in the central part of the Kurdistan Region of Iraq.

  • May 2013 - completed a C$250 million initial public offering on the Toronto Stock Exchange.
     
  • June 2014 - received final approval for the award of a 30% participating interest in the Haute Mer B license area (“Haute Mer B”), an exploration license area that covers 402 km2 in the deep water offshore Congo Brazzaville.
     
  • June 2014 - commissioned initial production facilities at the Demir Dagh field in the Hawler license area, and commenced production.
     
  • July 2014 - completed C$224 million public offering of common shares.

  • October 2014 - acquired an 85% participating interest (80% working interest upon the exercise of certain rights by third parties) in the AGC Central license area ("AGC Central"), an exploration license area that covers 3,150 km2 offshore Senegal and Guinea-Bissau
     
  • September 2015 - commisioned the Hawler production facilities at Demir Dagh with initial gross (100%) oil production capacity of 40,000 bbl/d. These facilities replaced the temporary production facilities put in place in 2014.

 

  • March 2016 - Zeg Oil and Gas Ltd. subscribes for 75.6 million common shares of Oryx Petroleum for cash consideration of $30 million.

 

  • March 2016 - implemented Management re-organisation.

 

  • March 2016 - commenced sales via pipeline from the Hawler license area.

 

  • December 2016 - commenced production from the Zey Gawra field in the Hawler license area.

  • January 2017 - the acquisition of 1,921 km2 of 3D seismic data covering a portion of the AGC Central license area was completed

  • June 2017 - completed financial re-structuring and re-capitalisation. AOG and Zeg Oil & Gas Ltd subscribe for 161.9 million common shares of Oryx Petroleum for consideration of $54.1 million.