Point Resources

Point Resources (‘the Company’) is a mid-sized, independent E&P company focused on the Norwegian Continental Shelf (‘NCS’). The Company has a diverse portfolio of production, near term development and exploration assets.

The Company has interests in three producing fields: Brage, Bøyla and Snorre.

It also has several significant discoveries in its portfolio including Bauge, Pil & Bue, Garantiana and Brasse.

The Company’s reserves and contingent resources are currently 158 mmboe and average production for 2016 was 6,400 boe/d.

The Company’s management team has experience in all phases of the oil field life cycle and a track record of value creation on the NCS.

Point Resources has a robust capital base with backing from Europe’s leading private equity firm in the oil and gas sector, HitecVision, and efficient reserve based lending and exploration financing structures in place with a syndicate of international banks.

The Company’s offices are in Oslo and Stavanger.

Company History

Point Resources' background

Point Resources was formed in early 2016 following the merger of Pure E&P, Core Energy and Spike Exploration.

Strategy

Vision

Point Resources' vision is to create a leading, independent exploration and production (E&P) company focused on the NCS.

The health and safety of all of its people and the protection of the environment is at the core of everything the Company does.  This will remain Point Resources’ highest priority as it grows.

Mission

Point Resources’ mission is to:

  • Build a technically acknowledged, financially strong and profitable E&P company
  • Secure growth and value creation through a combination of:
    • Value accretive acquisitions
    • Commercialisation and development of discoveries
    • Successful exploration
    • Continuously high-grading of its portfolio
  • Develop a risk-balanced portfolio of exploration, development and producing assets in focused clusters on the NCS
  • Increase the reserve and resource base
  • Develop a highly professional and focused organisation

 

Management Team
Jan Harald Solstad
Acting Chief Executive Officer

Jan Harald has more than 25 years of experience working with the oil industry. He is a Senior Partner in HitecVision, a position he has held since 2015. Prior to HitecVision, Jan Harald was co-founder and CEO of Core Energy AS, established in 2010. Before this, he held the position as Head of Oil & Gas at RS Platou Markets and has for over a decade been a reputed strategic and financial advisor to the oil industry through leading positions in investment banks and advisory firms. Jan Harald started his career in Conoco in 1991 working with economics, tax and finance, and later as an oil trader in London. Jan Harald holds a MSc degree in Business and Economics.

Thomas Bjørgo
Chief Financial Officer

Thomas has more than 15 years of experience working with the oil industry and joined Point Resources from the position as CEO and prior to that, CFO of Core Energy AS, an oil and gas company he co-founded in 2010. Prior to this, Thomas worked in the oil industry as an advisor and investment banker. He has advised numerous E&P companies on a large number of asset transactions and M&A deals, and has assisted several OSE listed E&P companies raise equity. Prior to Core Energy, Thomas held the position as Director in RS Platou Markets. Thomas holds a MSc degree in Business and Economics. 

Ingar Haugetraa
Chief Operating Officer

Ingar has more than 30 years of experience working with the oil industry and joined Point Resources from the position as VP Facilities & Operations in Core Energy, an oil and gas company he co-founded in 2010. Prior to this, he held the position as Project Integration Manager Cessation at ConocoPhillips Norway. Ingar started his career in Phillips in the early 80s. From there he joined Conoco and worked as Commercial and Business Development Manager. Thereafter, Ingar was Asset Manager for ConocoPhillips in Troll, Heidrun, Huldra and Ekofisk Hotel Project. Ingar holds a BSc degree in Mechanical Engineering as well as an MBA.

Thor Arne Olsen
VP Commercial

Thor Arne has more than 35 years of commercial experience working with the oil industry and joined Point Resources from the position as VP Business Development in Core Energy. Prior to this, he held the position as Vice President Commercial in Noreco, a position he held from 2006. Previous positions include Business Development Manager for BP Norway, Commercial Manager for Amoco Norway in addition to key managerial positions across the upstream value chain in Norway and internationally. Thor Arne holds a BSc degree in Business and Administration. 

Tord Pedersen
VP Sub-surface

Tord has more than 30 years of experience working with the oil industry and joined Point Resources from the position as VP Sub-surface in Core Energy, an oil and gas company he co-founded in 2010. Prior to this, he held the position as Managing Director of VNG Norge from 2009, the same position he held with Endeavour Energy Norway since joining them in 2005. From 2001 he worked for ConocoPhillips in the Middle East and Norway as Business Development Manager. Prior to this, he worked 11 years for Saga Petroleum (later Norsk Hydro) with international business development. Tord started his career as a geologist with Conoco in Norway and internationally. Tord holds a MSc degree in Geology. 

Jørn Rokk
VP Business Development

Jørn has more than 25 years of experience working with the oil industry and joined Point Resources from the position as Senior VP Commercial and Production in Pure E&P. Jørn was also one of the co-founders of Spring Energy, a Norwegian focused exploration company bought by Tullow in 2013. Prior to this, he worked with Business Development in Norway and UK for DNO and also as a Chief Reservoir Engineer. Previous experience include various Business Development and technical positions within E&P and consulting companies such as PGS, Esso Norge, Imperial Oil. Jørn holds a MSc degree in Petroleum Engineering.

Team
The Company recognises that its people are its most important asset.

Point Resources has a team of approximately 50 employees.

Point Resources aims to develop a collaborative culture with the team sharing a diverse range of skills and working hard towards the Company’s vision of becoming a leading player in the NCS. 

To develop operational capability in non-core disciplines, Point Resources deploys contractors and consultants to supplement the core team.

This allows significant flexibility when activity levels change such as periods of peak activity during drilling and concession rounds.

 

Business Conduct & Ethics

Point Resources strives to meet the highest ethical standards. Through its Code of Conduct, the Company is building a corporate culture based on integrity, honesty and fair treatment of all. 

Recruitment based on talent

Recruitment is always on the basis of ability without reference to any personal characteristic such as age, race, colour, disability or any other protected status.

Point Resources currently has no vacancies.