Melrose Resources
| Company type | Public |
|---|---|
| Industry | Oil and gas industry |
| Founded | 1992 |
| Founder | Robert Adair |
| Defunct | 2012 |
| Fate | Merged with Petroceltic International |
| Headquarters | Edinburgh , United Kingdom |
Area served | Global (offices in Egypt, Bulgaria, France, Romania, Turkey, United States) |
Melrose Resources plc was a standalone upstream oil and gas exploration and production firm established in 1992 and made its debut on the London Stock Exchange in 1999. With its headquarters located in Edinburgh, UK, the company maintained a global presence through offices situated in Egypt, Bulgaria, France, Romania, Turkey, and the United States.
In 2012, Melrose Resources completed a merger with Petroceltic International.
History
Robert Adair founded the company in 1992 with the goal of exploring international oil prospects. By 2004, Melrose had successfully developed the Galata gas field in Bulgaria. The acquisition of Merlon Petroleum in 2006 significantly increased its portfolio of assets in Egypt.
The October 2012 merger between Melrose and Dublin-based Petroceltic International plc was executed through a $222 million share-for-share transaction. This consolidation incorporated exploration projects in Algeria, Kurdistan, and Italy, resulting in an expanded oil and gas exploration and production enterprise. Subsequently, Petroceltic was purchased by Worldview Capital Management, a financial fund headquartered in the Cayman Islands, in June 2016.