Zennor was originally founded in 2006 (then named MPX) and the Company’s majority shareholder is The Kerogen Energy Fund II (“Kerogen”), a private equity fund managed by Kerogen Capital.
Zennor’s heritage and focus can be traced back to the mid-1990s and the successful missed pay strategy of ARCO International, where many of the team worked. It was during this period that the ‘art’ of missed pay recognition was integrated with real science, producing a systematic process that holds the key to repeatability and hence to success. Zennor is the re-creation of the same subsurface principles, updated with new ideas and concepts.
The Company has made rapid progress since its acquisition by Kerogen in August 2015. In March 2016 the Company completed a purchase from First Oil Expro Limited (in Administration) that included non-operated interests in four producing fields; Mungo & Monan, Bacchus and Cormorant East. In summer 2016 Zennor drilled a successful appraisal well on the Finlaggan Discovery, with FDP approval from the OGA in October 2018. In 1H 2017 Zennor acquired interests in two further discoveries: SW Heather and Arran.