About the Company
Moorland Energy was created in 2007 to acquire licences to extract hydrocarbons from surveyed and partially delineated discoveries. The Company acquires and develops existing assets which are either viewed as non-core by larger companies or as unexploited by under-capitalised licence holders, thereby adding significant future value to international oil and gas operations.
Domestic hydrocarbon reserves are becoming attractive strategic assets as they will play an increasingly important role in meeting Europe's energy capacity and security needs.
Moorland's strategy of taking control of proven but undervalued sites ensures that the business has clear sources of revenue generation and therefore significant potential for value creation.
In 2007 Epi-V invested £10 million into Moorland Energy to finance appraisal drilling, well testing and reserve verification activities on two exploration licenses acquired from Warwick Energy. The deal saw Epi-V take a significant stake in the company. In addition, Moorland acquired 10MW of generation equipment from Warwick Energy.
Epi-V invested a further £7 million in the company in 2008 following the confirmation of significant gas reserves at Moorland Energy’s Ebberston South Well in North Yorkshire. The deal enabled the business to fund the design, planning and engineering developments required to optimise gas production at the site and to prepare the well for connection to the UK transmission system. This funding enabled Moorland Energy to achieve its first strike at the 3D seismic defined extension to the Wykeham gas field at Ebberston South.
In 2012 Moorland Energy obtained planning permission to build an onshore gas plant in north Yorkshire including a well-head and construction of a pipeline to link with the National Transmission System.
Since its initial investment Epi-V has worked closely with the company’s management, further strengthening the team by recruiting a new CEO, Chief Engineer and non-executive Chairman.
The investment represents the diverse nature of Epi-V’s portfolio of emerging technology and service companies within the upstream services sector.