Point Resources was established early 2016 following the merger of Pure E&P, Core Energy and Spike Exploration.
On 1 November 2017, production operatorship was transferred from ExxonMobil Exploration and Production Norway AS to Point Resources, marking a significant company milestone and a step towards becoming a major player on the NCS.
The historic license number 001 (PL 001) is included in the production operatorship portfolio transferred from ExxonMobil. It was the first license to be awarded on the shelf, in this case to Esso Exploration Norway Inc. in 1965. First drilling operations on the NCS took place in 1966, and the first oil discovery offshore Norway became part of history in 1967.
Point Resources is now planning to invest in increased oil recovery initiatives at the Balder field, located in PL 001. The license number 001 story will continue with Point Resources as operator.