Jersey Oil and Gas PLC (JOG) is an independent oil and gas exploration and production company based in the United Kingdom. It is listed on the London Stock Exchange (LSE) under the JOG ticker. As of this post, JOG’s Share Price is at 220.00 GBX.
JOG Share Price focuses on the exploration, appraisal, and development of oil and gas resources in the North Sea, specifically in the United Kingdom Continental Shelf (UKCS). The company’s primary asset is the Greater Buchan Area (GBA), which includes the Buchan oil field and several other discovered fields.
Jersey Oil and Gas PLC (JOG) has a brief history that involves various milestones and developments in the oil and gas industry. Here is a summary of the key events:
Formation and Early Years
Jersey Oil and Gas was incorporated 2014 as an independent oil and gas exploration and production company. It focused on opportunities in the North Sea region, particularly in the UKCS.
Buchan Oil Field Acquisition
In 2015, Jersey Oil and Gas acquired an 88% working interest in the Buchan oil field from Total E&P UK Limited. The Buchan field in the Moray Firth has been a significant asset for the company.
Farm-out Agreement
In 2017, the company entered into a farm-out agreement with Statoil (now Equinor) for the P2170 license, which includes the Verbier discovery and other exploration prospects in the UKCS. This agreement enabled Jersey Oil and Gas to benefit from Statoil’s expertise and resources in exploring and developing the license area.
Verbier Discovery
In 2017, Jersey Oil and Gas participated in drilling the Verbier exploration well, which encountered oil and gas resources. The Verbier discovery has been a significant development for the company’s portfolio.
Greater Buchan Area
In recent years, Jersey Oil and Gas has focused on the Greater Buchan Area (GBA), a region in the Moray Firth that includes the Buchan field and several other discovered fields. The company has been working on appraisal activities and development plans to unlock the potential resources in the GBA.
Well Investment Decision
In 2021, Jersey Oil and Gas announced a favorable investment decision for the GBA development project following successful appraisal activities. The decision marked a significant milestone for the company, moving towards the production phase.
Investing in JOG Share Price can offer several potential advantages. Here are some key points to consider:
Oil and Gas Potential
JOG Share Price has exploration and production assets in the North Sea, specifically in the UKCS. The region has a long oil and gas production history and is known for its substantial reserves. Investing in JOG allows exposure to potential hydrocarbon resources in this prolific area.
Greater Buchan Area Development
The Greater Buchan Area (GBA), where JOG Share Price holds a significant interest, has been estimated to hold substantial oil and gas resources. In addition, the company’s ongoing development plans for the GBA, including the Buchan field and other discoveries, allow investors to participate in this asset’s potential growth and production.
Strategic Partnerships
JOG Share Price has established strategic partnerships with major industry players. For example, the farm-out agreement with Equinor (formerly Statoil) for the P2170 license, including the Verbier discovery, provides access to the expertise and resources of a leading oil and gas company. Such partnerships can enhance the likelihood of successful exploration, development, and production outcomes.
Industry Expertise
The management team and technical staff at JOG Share Price have experience and knowledge in the oil and gas sector. Their expertise can contribute to effective decision-making, project execution, and shareholder value creation.
Oil Price Upside
The performance of oil and gas companies is often correlated with oil prices. Therefore, exploration and production companies like Jersey Oil and Gas can positively impact profitability if oil prices rise.
Diversification
Investing in JOG Share Price can provide diversification within an investment portfolio. In addition, by including exposure to the oil and gas sector, investors can reduce risk by spreading their investments across different industries and asset classes.
Jersey Oil and Gas PLC (JOG) operates in the oil and gas exploration and production sector, specifically in the UKCS. While it may not have direct competitors with identical portfolios, other companies are active in the North Sea region and the broader oil and gas industry. Some of the main competitors or companies operating in a similar space to JOG Share Price include:
- BP plc: BP is a global energy company engaged in various aspects of the oil and gas industry, including exploration, production, refining, and marketing. It operates in multiple regions, including the North Sea.
- Royal Dutch Shell plc: Shell is one of the largest integrated energy companies globally, involved in oil and gas exploration, production, refining, and marketing. It has a significant presence in the North Sea and operates various regional assets.
- TotalEnergies SE: TotalEnergies is a multinational energy company engaged in all aspects of the oil and gas industry, including exploration, production, refining, and marketing. It has operations in the North Sea, among other regions.
- Equinor ASA: Equinor is an energy company focused on oil, gas, and renewables. It has a significant presence in the North Sea and operates various regional exploration and production assets.
- Premier Oil plc: Premier Oil is an independent exploration and production company with operations primarily focused on the UKCS. It explores for and produces oil and gas from fields in the North Sea.
