HEYCO Energy Group, Inc. today announced that Mark Abbott, CEO of UK-based Egdon Resources plc, will join its board of directors. This senior appointment follows HEYCO’s acquisition of Egdon in September of 2023.
“I am delighted to welcome Mark to our board of directors,” said George Yates, chairman and CEO of HEYCO. “Mark’s proven leadership and business acumen will undoubtedly be of great benefit to the strategy and governance of HEYCO and its subsidiaries.”
Abbott has been working in the oil industry since 1992 and co-founded Egdon in 1997. Prior to that he worked as a geophysicist/geologist with the British Geological Survey in the UK and overseas from 1979-92.
“I am looking forward to working closely with HEYCO’s existing board members as we write the next chapter in the HEYCO-Egdon relationship,” said Abbott. “Together we are strongly positioned to explore a raft of exciting opportunities across conventional, unconventional, and renewable energy. First and foremost, we will seek to realize our vision of providing locally derived, secure, affordable, and sustainable energy to meet our evolving energy needs.”
HEYCO’s acquisition of Egdon last year marked a key milestone in the long-standing relationship between the two companies. HEYCO, an upstream energy company with holdings in the United States and Europe, has invested in and provided technical advice to Egdon for more than two decades. The acquisition further expanded HEYCO’s growing European portfolio, following the purchase of a gas field in Northern Spain and the establishment of a Madrid office in 2022.
Founded in 1997, Egdon holds interests in 33 licences in the UK with exposure to the full cycle of opportunities from exploration through to development and production of oil and gas. The company’s flagship Wressle field in North Lincolnshire is the onshore UK’s second highest producing oil field. Egdon is also developing opportunities for energy storage, hydrogen, geothermal and renewable generation. Egdon now operates as a private firm within the wider HEYCO family with Abbott continuing to lead the company as CEO.