- Business
- Borders & Southern Petroleum plc is a United Kingdom-based independent oil and gas exploration company focused on hydrocarbon exploration in the South Falkland Basin. The company holds a 100% interest and operatorship in three production licences covering nearly 10,000 square kilometres located approximately 150 kilometres south-east of the Falkland Islands; it has conducted 2D and 3D seismic surveys totalling 2,862 kilometres and 2,517 square kilometres respectively, and drilled two exploration wells, including the 2012 Darwin discovery well that identified a significant gas condensate accumulation with independently assessed un-risked best estimate resources of 3.2 trillion cubic feet of wet gas initially in place and 462 million barrels of contingent and prospective condensate and LPG. Borders & Southern Petroleum plc, founded in 2004 and headquartered at One Fleet Place in London, operates through its wholly-owned subsidiary Borders & Southern Falkland Islands Limited and targets frontier basin prospects surrounding the Darwin discovery, which comprises adjacent tilted fault blocks Darwin East and Darwin West featuring a high-quality Early Cretaceous Aptian shallow marine sandstone reservoir. In the first half of 2025, the company raised £2.2 million before costs from institutional and private investors to fund licence fees, discovery area fees, technical and commercial studies, and administrative expenses, extending its cash runway to cover overheads until the end of 2026; it continues to advance farm-out discussions for the Darwin discovery through investment bank Houlihan Lokey amid renewed interest from tier-one industry partners, supported by improved upstream sentiment, competitive Falkland Islands fiscal terms, and progress on the nearby Sea Lion field development by Navitas with a final investment decision anticipated in Q4 2025.