Hyperdynamics Corp
(NYSE: HDY)
0.45
-0.02
-4.05%
-0.02
-4.05%
MORE ON HDY
COMPANY INFORMATION
| Exchange: | New York Stock Exchange |
| Stock: | HyperDynamics Corporation |
| Industry: | Oil & Gas Drilling |
| Employees: | 24 |
DESCRIPTION
| Hyperdynamics Corporation, a Delaware corporation that was formed in 1996, is an emerging independent oil and gas exploration and production Company. The Company has certain contract rights for the exploration and exploitation of oil and gas in an approximately 80,000 square kilometer concession off the coast of the Republic of Guinea in West Africa. The Company is engage in oil and gas exploration off the coast of Guinea through its wholly-owned subsidiary, SCS Corporation. The Company devotes all of its efforts to raising funds to support its exploration and development of sub-surface hydrocarbons in commercial quantities offshore Guinea. In April 2009, the Company initiated the sale of its domestic U.S. oil and gas operations, which consisted of working interests in several oil and gas properties in Northeast Louisiana, in which the sale was completed in its entirety in August 2009. Its corporate mission is to provide energy for the future by exploring for, developing new, and re-establishing pre-existing sources of energy worldwide. Through its international business segment, the Company is currently exploring for oil and gas offshore Guinea, West Africa. Hyperdynamics had two reportable segments: its international operations in Guinea and its domestic Louisiana operations. SCS is engaged in oil and gas exploration activities pertaining to offshore Guinea, West Africa. HYDR was engaged in oil and gas exploration and production activities in Louisiana, United States. During the year ended June 30, 2009, its domestic operations were discontinued, and as of August 2009, all the assets associated with HYDR have been sold. Hyperdynamics evaluates performance based on profit or loss from operations. The reportable segments are managed by separate management teams who are evaluated based on its segment's performance. Many companies and individuals engage in drilling for gas and oil and there is competition for the most desirable prospects. It expects to encounter intense competition from other companies and other entities in the sale of its oil and gas. |
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