Providence’s strategy is to assemble a material equity position in a portfolio of assets offshore Ireland combining existing discoveries with new prospects to improve overall economics and reduce risk profile in order to realise value and to generate sustainable incremental wealth for the Company and its shareholders.
  • 100% Irish focus with with “first mover advantage” of over 20 years operating experience in the proven North Celtic Sea and Porcupine Basins
    • Most diversified portfolio of licenses
    • More well & seismic data than any other Operator offshore Ireland
    • Ability to drive / truncate timelines
  • Leverage in industry partners through farm outs and option deals
    • Since 2004, drilling deals  agreed with Eni, Repsol, ExxonMobil, Cairn & TOTAL leveraging in $300 million of industry co-investment
    • YTD 2017, generated incremental investment of >$45 million from commercial transactions with Cairn/TOTAL
  • Portfolio de-risking through 3D seismic & drilling
    • Significant shallow (100m) to harsh environment UDW (2,000m+) operational drilling capability
    • Since 2004, Providence and its partners have drilled 7 wells (6 operated) and participated in 14 seismic surveys - investing c. US$ 550 million
    • Value creation for shareholders through drilling  by transforming 2C resources to 2P status
  • Actively evaluate M&A and asset swap opportunities