Reading based Egdon Resources completes sale to Petrichor Partners

By Nicky Godding

19 September 2023

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The take over of Reading-based oil and gas exploration company Egdon Resources by Petrichor Partners has completed and Edgon's listing on the London Stock Exchange has been cancelled.

It is intended that Egdon will be re-registered as a private company limited by its shares under the relevant provisions of the Companies Act 2006.

Petrichor Partners LP's all-cash takeover of Egdon Resources PLC for £26.6 million was made in May.

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Petrichor is a partnership of which the general partner HEYCO International, Inc., is a wholly owned subsidiary of HEYCO Energy Group, Inc. HEYCO Group is an upstream energy portfolio group that delivers strategy, sophisticated technology and capital to oil and gas exploration projects in the US and Europe.

HEYCO Group is privately owned by members of the Yates family of south-eastern New Mexico, US, who have been active in the oil and gas industry since the 1920s.

Egdon operates projects throughout the UK, in the North of England, the North Sea, the South of England and the East Midlands.

HEYCO Group believes Egdon is strategically positioned to contribute to the UK's future energy needs, with its conventional projects as well as with opportunities for gas storage, hydrogen, geothermal and renewable generation.

By Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.