Bahamas Petroleum Company completes merger with Columbus Energy Resources

Bahamas Petroleum Company (BPC), an oil and gas company based in Isle of Man, has completed its previously announced merger with Columbus Energy Resources following the approval of a scheme of arrangement by a UK court.

Columbus Energy Resources, which is based in the UK, is an oil and gas exploration company focused on South America with onshore assets in Trinidad and Tobago and Suriname.

On the other hand, Bahamas Petroleum Company is focused on the Caribbean and Atlantic regions. The company has exploration, production, appraisal and development assets in licences in the waters of The Bahamas and Uruguay besides onshore licenses across Trinidad and Suriname.

Simon Potter – CEO of Bahamas Petroleum Company said: “With the completion of the merger of BPC and Columbus, we today become a single company, in pursuit of a single-minded vision: the creation of a revenue generating, full-cycle, Atlantic margin exploration and production (E&P) business.

“To achieve this vision we have a clear strategy, where we will apply a portfolio approach to asset ownership across the full life cycle of the hydrocarbons business, in a manner that appropriately balances risk and reward, ensures access to capital on competitive terms, and effectively leverages our core expertise and experience.”