Company type | Public |
---|---|
TSX: NKO | |
Industry | Petroleum |
Founded | 1987 |
Headquarters | , |
Key people | |
Products | Oil, Natural Gas |
Revenue | US$194.464 mil Ytd June 2011 14.4%[1][2][3] |
US$(54.334) mil Ytd June 2011 (1h10: $78.23M) | |
Total assets | $1,830.11 mil June 20117.3% qoq |
Total equity | $1,127.47 mil June 20112.9% qoq |
Number of employees | 213 (2011) |
Divisions | Niko Resources Cyprus Ltd Niko Resources Bangladesh Ltd Niko Resources Cayman Ltd Niko Resources Trinidad & Tobago Voyager Energy |
Website | nikoresources |
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]
2011report
was invoked but never defined (see the help page).pbs
was invoked but never defined (see the help page).