Type Public (OSE: RGT) Products Geophysical services Number of employees 40 (Dec 2007) | Industry Oil and gas Headquarters Bergen, Norway | |
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Key people Trygve Pedersen (CEO)
Dag Dvergsten (Chairman) Revenue NOK 10,9 million (2005) Net income NOK 47,4 million (2005) | ||
Rocksource is a technology-based exploration and production petroleum company listed on the Oslo Stock Exchange. The company was established as a partnership between Norwegian entrepreneurs, oil industry professionals and academics from the University of Bergen. The company is technology focused with expertise in two areas. For exploration the company has developed algorithms for the processing of Controlled Source Electromagnetic (CSEM) data which are used as part of an integrated exploration process. Secondly the company has successfully exported "North Sea style" reservoir management techniques to the highly conservative onshore gas fields of east Texas where it currently has production of c. 2000 BOEPD.
Rocksource is currently building up a portfolio of exploration acreage that is suitable for de-risking using CSEM. As such it has licences in the UK and Norway in addition to reviewing a number of international opportunities. Production is centred on two fields in the US which it operates through its subsidiaries REC and Sandhawk.