Pandion Energy AS

This week, our CEO, Jan Christian Ellefsen, took the stage at the 31st Annual Pareto Securities Energy Conference to share Pandion Energy’s latest achievements, strategic initiatives, and growth outlook. We remain focused on sustainable production, unlocking future potential through key discoveries, and executing a disciplined approach to M&A:   𝗖𝘂𝗿𝗿𝗲𝗻𝘁 𝗻𝗲𝘁 𝗽𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝗼𝗻: ~8.2 kboepd from Valhall, Hod, and Nova with relatively steady production expected through the mid-2030s and a long dated production horizon towards 2050. 𝗥𝗲𝗰𝗲𝗻𝘁 𝗱𝗶𝘀𝗰𝗼𝘃𝗲𝗿𝗶𝗲𝘀: Slagugle, Ofelia, Calypso, and Sierra present material growth potential into the 2030s. 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗠&𝗔 𝗮𝗽𝗽𝗿𝗼𝗮𝗰𝗵: May pursue bolt-on acquisitions in existing areas while exploring realization and consolidation opportunities. 

We are honoured to be on team Valhall! Together with the operator Aker BP ASA we received this year’s Improved Recovery Award awarded by the Norwegian Offshore Directorate. The prize recognises creativity, patience and the willingness to take risks when exploring methods and technologies that can increase oil and gas recovery. - This year’s Improved Recovery Award goes to the licensees on the Valhall and Hod fields in the North Sea. These fields have produced almost four times more oil and gas than the estimates in the development plans, the justification states. Aker BP ASA Norwegian Offshore Directorate #valhall #hod #NCS #ONS

Our 2023 results are out. Pandion Energy AS was established in November 2016 on the basis of the operational platform and six licences acquired from Tullow Oil Norge AS in a management buy-out, backed by Kerogen Capital. Today, Pandion Energy is a full-cycle oil and gas company on the Norwegian continental shelf. Over our seven years of operation, the company has made six discoveries out of seven drilling campaigns, and built a focused portfolio of production, discoveries, and exploration upsides near existing infrastructure, with a daily low cost, low carbon production of 8,300 barrels of oil equivalent. Read the 2023 highlights below.

Pandion Energy’s combined annual report for 2023 is out. We delivered another year of strong financial results, with a record-breaking turnover of USD 223.4 million and robust EBITDAX margin. Our cost efficiency has been maintained at USD 10 per barrel produced and our carbon footprint for 2023 was 1.5 kilograms of CO₂e per barrel of oil equivalent.