Providence Resources is an Irish oil and gas exploration company. It is listed on the

London Stock Exchange The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...

and the Irish Stock Exchange. Its primary activities are the exploration and development of hydrocarbons offshore

Ireland Ireland (, ; ; Ulster Scots dialect, Ulster-Scots: ) is an island in the North Atlantic Ocean, in Northwestern Europe. Geopolitically, the island is divided between the Republic of Ireland (officially Names of the Irish state, named Irelan ...

and the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...

. The predecessor to Providence, Atlantic Resources, was formed in 1981 by a group led by

Tony O'Reilly Sir Anthony John Francis O'Reilly (7 May 1936 – 18 May 2024) was an Irish businessman and international rugby union player. He was known for his try scoring in rugby, his involvement in the Independent News & Media Group, which he led from ...

. Tony O'Reilly, Junior was CEO of Providence from 2005 to 2019.

Projects

Providence drilled

's first commercially-viable oil well at the

Barryroe ''Barryroe'' is an undeveloped oil and gas field in the Atlantic Ocean due south of County Cork, Ireland Ireland (, ; ; Ulster Scots dialect, Ulster-Scots: ) is an island in the North Atlantic Ocean, in Northwestern Europe. Geopolitic ...

field in 2012. The exploratory well far exceeded expectations with an initial flow rate of 3,500 bpd. Barryroe is situated approximately 50 km south of the Cork coast at a 100m water depth and an independent audit in April 2013 estimated that Barryroe holds in excess of 1.6 billion barrels of oil, of which 346 million barrels equivalent is recoverable. , company is still appraising the field and is seeking farmout partners to begin development. In 2015, Providence planned to drill an appraisal well at Spanish Point of the west Irish coast along with partners Cairn Energy (38%), Chrysaor (26%) and Sosina (4%). Drilling was delayed to 2017 and then to an indefinite time later, subject to the licence being extended to allow this. In 2016 Providence announced a plan to drill at the Druid and Drombeg prospects south-west of Ireland, and in contracting a drilling operation to begin in June 2017. The 2017 Druid well contained only water. Providence is a partner (26.8% stake) in the Dunquin oil field in the Porcupine Basin, along with operator

Eni Eni is an Italian oil and gas corporation. Eni or ENI may refer to: Businesses and organisations * Escuela Nacional de Inteligencia, the Argentine intelligence academy * Groupe des écoles nationales d’ingénieurs (Groupe ENI), a French engi ...

Repsol Repsol S.A.
El Nuevo Herald, 2012-05-31Originally an init ...

, and Sosina.

ExxonMobil Exxon Mobil Corporation ( ) is an American multinational List of oil exploration and production companies, oil and gas corporation headquartered in Spring, Texas, a suburb of Houston. Founded as the Successors of Standard Oil, largest direct s ...

was previously a major partner and operator but exited the project after drilling an unsuccessful well at Dunquin North in 2013.

References

{{reflist Companies listed on Euronext Dublin Oil companies of the Republic of Ireland