Lasmo plc was a British
oil
An oil is any nonpolar chemical substance that is composed primarily of hydrocarbons and is hydrophobic (does not mix with water) & lipophilic (mixes with other oils). Oils are usually flammable and surface active. Most oils are unsaturated ...
and
gas
Gas is one of the four fundamental states of matter (the others being solid, liquid, and plasma).
A pure gas may be made up of individual atoms (e.g. a noble gas like neon), elemental molecules made from one type of atom (e.g. oxygen), or ...
exploration
Exploration refers to the historical practice of discovering remote lands. It is studied by geographers and historians.
Two major eras of exploration occurred in human history: one of convergence, and one of divergence. The first, covering most ...
and
production
Production may refer to:
Economics and business
* Production (economics)
* Production, the act of manufacturing goods
* Production, in the outline of industrial organization, the act of making products (goods and services)
* Production as a stati ...
business. It was listed on the
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...
and was a constituent of the
FTSE 100 Index
The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE, or, informally, the "Footsie" , is a share index of the 100 companies listed on the London Stock Exchange with (in principle) the highest market ...
.
History
The Company was founded in 1971 as London and Scottish Marine Oil (LASMO) to explore the
North Sea
The North Sea lies between Great Britain, Norway, Denmark, Germany, the Netherlands and Belgium. An epeiric sea on the European continental shelf, it connects to the Atlantic Ocean through the English Channel in the south and the Norwegian S ...
.
[Lasmo falls to £2.4bn bid from Amerada Hess]
The Independent, 7 November 2000 It struck oil in the Ninian Field in 1974 and was first listed on the
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...
in 1977. In the early 1990s it expanded its operations into
Indonesia
Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania between the Indian and Pacific oceans. It consists of over 17,000 islands, including Sumatra, Java, Sulawesi, and parts of Borneo and New Guine ...
,
Algeria
)
, image_map = Algeria (centered orthographic projection).svg
, map_caption =
, image_map2 =
, capital = Algiers
, coordinates =
, largest_city = capital
, relig ...
and
Pakistan
Pakistan ( ur, ), officially the Islamic Republic of Pakistan ( ur, , label=none), is a country in South Asia. It is the world's List of countries and dependencies by population, fifth-most populous country, with a population of almost 24 ...
.
[ It bought ]Ultramar plc
Ultramar plc was a leading British oil and gas exploration and production business. It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index.
History
The Company was founded by four South African goldmining concerns ...
in 1991 in a hostile takeover battle.
It successfully fought off a hostile bid from Enterprise Oil
Enterprise Oil was a major UK independent exploration and production company based in Europe, with core areas of activity in the United Kingdom and Ireland, mainland Europe, Brazil and the Gulf of Mexico. The Company was once a constituent of the ...
in 1994. It expanded into Venezuela
Venezuela (; ), officially the Bolivarian Republic of Venezuela ( es, link=no, República Bolivariana de Venezuela), is a country on the northern coast of South America, consisting of a continental landmass and many islands and islets in th ...
in 1997 paying $453m for an interest in the Dacion Field. In 1999 it acquired Monument Oil & Gas for £460m.[
In 2001 it was acquired by Eni, who successfully outbid an initial offer from ]Amerada Hess
Hess Corporation (formerly Amerada Hess Corporation) is an American global independent energy company involved in the exploration and production of crude oil and natural gas. It was formed by the merger of Hess Oil and Chemical and Amerada Petr ...
.Eni swoops on Lasmo
BBC News, 21 December 2000
References
Non-renewable resource companies established in 1971
Companies formerly listed on the London Stock Exchange
Defunct companies based in London
Defunct oil companies
Defunct oil and gas companies of the United Kingdom
Energy companies established in 1971
1971 establishments in England
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