Niko Resources

Niko Resources
Company typePublic
TSX: NKO
IndustryPetroleum
Founded1987
Headquarters
Calgary, Alberta
,
Canada
Key people
  • Ed Sampson (Chair, Pres., CEO)
  • Will Hornaday (COO, Dir)
  • J. Cummings (Dir)
  • W. DeBoni (Dir)
ProductsOil, Natural Gas
RevenueUS$194.464 mil Ytd June 2011
Decrease14.4%[1][2][3]
DecreaseUS$(54.334) mil Ytd June 2011 (1h10: $78.23M)
Total assets$1,830.11 mil June 2011Decrease7.3% qoq
Total equity$1,127.47 mil June 2011Increase2.9% qoq
Number of employees
213 (2011)
DivisionsNiko Resources Cyprus Ltd
Niko Resources Bangladesh Ltd
Niko Resources Cayman Ltd
Niko Resources Trinidad & Tobago
Voyager Energy
Websitenikoresources.com

Niko Resources is an India- and South East Asia-focused oil and gas exploration and production company that shares ownership of many exploration and development properties with Komodo Energy and Reliance Industries. Though it holds exploration rights to 37,000,000 acres (150,000 km2) of land in 7 countries production currently (2011) only takes place in India and Bangladesh. Major acquisitions include a $310 million November 18, 2009 purchase of Black Gold Energy (a move that made it a major player in deepwater exploration in Indonesia, the deal was completed in December 2009) followed by the 2010 $37.6 million acquisition of Voyager Energy which expanded its presence in Trinidad (that deal was completed in March 2010).[4][5]

Most of the company's revenue comes from India (85.92% in fiscal 2011 up from 81.6% in 2010/87.53% in 1Hlf10), revenue from India rose 106% in the 12 months ended March 2011 compared to only 3.9% for Bangladesh.[6]

The company is investing heavily in Trinidad where in June 2011 it paid $78.1 million for offshore block 5c and is initiating exploration of another block (block 2AB). Though 58% of Niko's net exploration land position is in Indonesia (16.7M acres or 10X more than India) exploration expenditure in India has increased from 1.4X higher than Indonesia in 2010 to 2.6X higher ($50M vs $19M), and is forecast to increase to 12X higher in 2012 due to drilling the D4 and D6 blocks. In terms of gross land holdings about a quarter of all land is in India (35,187 km2) [6] Between 2001 and 2006 the market value of the company grew elevenfold.[7]

  1. ^ "Summary of Quarterly Results: page 21" (PDF). 2011.
  2. ^ "Niko Resources 2011 First Quarter Results" (PDF). 2011.
  3. ^ "Summary of Quarterly Results: page 24" (PDF). 2010.
  4. ^ "Niko Resources to acquire Black Gold Energy LLC for $310 million". 2009-11-18.
  5. ^ "Niko Resources to buy Voyager Energy in $37.6 million stock transaction". 2010-02-08.
  6. ^ a b Cite error: The named reference 2011report was invoked but never defined (see the help page).
  7. ^ Cite error: The named reference pbs was invoked but never defined (see the help page).