Investing in companies that are finding 'a better way', the Mitchell Group are open to exploring all investment opportunities that fit our philosophy.
The Mitchell Group founded Verso Energy, and is committed to finding a cleaner alternative to satisfy the world’s growing energy needs, in the move towards more sustainable alternatives.
Whilst natural gas is part of the transition away from coal, the development of coal seam gas is creating a new set of environmental challenges. Verso believe that no resource should be obtained at the expense of groundwater, clean air and prime agricultural land and is currently developing a pilot project that will overcome these challenges.
Verso are changing the way that coal is viewed as an energy source. It is no longer something to be mined and burnt, and there is no need to be fracking or draining water for a small amount of gas.
In late 2013 the Mitchell Group re-entered the Australian drilling market via a roll-in transaction with Drill Torque Ltd (ASX:DTQ).
The company was re branded to Mitchell Services (ASX:MSV), and Mitchell's took over management and operation of the company. Utilising our strong drilling DNA and name, Mitchell Services are filling gaps in the market where service and safety can be maintained at the highest levels, using innovation and experience to service the resource industry in a better way.
In late 2014, Mitchell Services acquired the assets of Tom Browne Drilling Services from receivers for $9.5m. In 2015 the company continued it's consolidation and acquired the assets of Nitro Drilling for $16.12m. Following the acquisition, MSV has consolidated it's position as a leading provider of drilling services to the Eastern Australian market, now operating a fleet of 77 drill rigs.
The Mitchell Group co-founded and seeded Sub161, and built a strategy of displacing high cost, heavily polluting diesel with gas, for locations off the existing gas and electricity network. Sub161 offers it's customers diesel replacement solutions in the form of LNG and CNG distribution.
In 2014 Sub161 completed construction the company's first compressed natural gas facility in Port Hedland to service the Pilbara Region. The project was the largest single customer CNG project in the world. The facility has a capacity in excess of 10Tj/day and is capable of displacing over 220,000 liters of diesel per day. The company continues to develop the growing diesel replacement market in Australia.
Mitchell Equipment Hire
The Mitchell Group created Mitchell Equipment Hire to service the drilling industry with equipment that is engineered in a better way with experience that spans over 40 years.
Providing state of the art, mobile equipment, Mitchell Equipment Hire is able to offer complete drilling rental solutions to all facets of the drilling indu. MEH utilities its own fleet of drill rigs, mud pumps, air compressors, generators and various machinery and equipment.
Mitchell Ports was developed to provide the coal industry with a better way to export coal without the need to over capitalise large scale ports which create significant environmental impacts.
Mitchell Ports are able to deliver staged growth, low cost and low environmental impact port solutions to an industry that has lost its way in regards to the acceptance of high cost, traditional port development.
Mitchell Drilling International
After the sale of the Australian drilling operations to AJ Lucas in 2008 for A$170 million, the Mitchell Group ventured offshore and set up drilling operations in Africa, China, India and Russia. The business expanded rapidly on the back of the Mitchell’s pioneering drilling technology and unrivalled capabilities. The business has successfully completed major projects for many international tier 1 clients around the world. In 2010 an operation was established in Mozambique on the back of securing a contract with Riversdale/Rio Tinto Mozambique. In 2013 Mitchell Drilling India was sold and MDI exited China and Russia to focus on opportunities in Africa. Today, Mitchell Drilling International has focused it's operations in East Africa where the company utilities it's fleet of 25 rigs, 40+ Light vehicles, trucks and earth moving equipment to provide services across the region. in 2015 Mitchell's international drilling operations currently employ in excess of 150 staff, with a wealth of experience in the drilling industry.
Tlou Energy is Southern Africa’s most advanced CBM natural gas exploration company, with its flagship project located in Botswana. After co-founding the company in 2009, Nathan Mitchell has remained Executive Chairman of the board, where he has led the company to a successful listing on the ASX in 2013 (ASX:TLO).
Tlou aspires to supplement the energy needs of the rapidly growing southern African region through supplying cleaner, natural CBM gas to generate new electrical energy as well as to replace existing diesel and coal fired power generation. The investment in Tlou is consistent with the Mitchell Groups philosophy of targeting projects that provide a bridge to cleaner energy sources.
Born from the idea of finding a better way to connect people to remote mining locations, AVMIN are now industry leaders in providing cost effective aircraft charter solutions and logistics consultancy to a wide range of industries both domestically and internationally. The Mitchell Group, via its investment in Salva Resources, provided seed investment to the AVMIN business in 2012, seeing first hand the need for professional chartering services to the resources industry. AVMIN specialise in complete FIFO logistics, ad hoc aircraft charter, VIPs aircraft, sporting and conference group charters as well as air freight services (dangerous and non-dangerous goods).
In 2009 the Mitchell Group invested in QEnergy, a Brisbane based energy retailer with a strategy of servicing the energy needs of small business. The private company now services 17,500 customers in five States and has grown from an initial staff of 2 in 2009, to over 60 in 2014. The Mitchell Group seeded QEnergy in its initial development, backing management in it’s approach to provide better value, service and supply to small businesses across the country.
The Mitchell Group invested in CitiScan Radiology to provide a better way for the patients in Brisbane's CBD to access state of the art services, operated by a team of experienced specialists who are committed to providing professional medical imaging with a high level of personalisation.
After successfully operating in the CBD since 2011, CitiScan are actively investigating new sites in QLD for expansion and the offering of franchise opportunities.
Ambre Energy’s goal is to provide affordable energy to both the US and to Asia’s modern and emerging economies. In 2008 the Mitchell Group made a significant investment in the company through a combination of a drill-for-equity mechanism and a traditional equity injection. The Mitchell Group is backing the company to deliver its environmentally friendly port solutions. Ambre Energy is operating and expanding the Millennium Bulk Terminals-Longview facility in Washington State (with joint venture partner Arch Coal) while also developing the proposed Morrow Pacific project, a coal barging and transloading operation in Oregon, USA. Ambre is cleaning up the Millennium Bulk Terminals at Longview, Washington State – transforming the former aluminium smelter site into a world-class, economically vibrant and environmentally responsible port facility. Further, Ambre are the operator and co-owner of two thermal coal mines – Black Butte mine in Wyoming and Montana’s Decker mine.
As part of the Mitchell Group’s commitment to find a cleaner alternative to satisfy the world’s growing energy needs, an investment was made in Carbon Energy (ASX:CNX) in 2008. Carbon Energy is an emerging global energy technology provider and services company with expertise in unconventional syngas extraction through utilising its proprietary keyseam® underground coal gasification (UCG) technology.
The Mitchell Group gained a stake in the company by way of a significant drill for equity in which Mitchell’s undertook exploration and horizontal well drilling for the company on its Queensland assets.
VMW Engineering is one of Australia’s leading manufacturers of consumables for the drilling industry. As part of Mitchell Groups vertical integration strategy, an equity stake was taken in VMW Engineering in 2008 to gain the benefit of service provision to a number of Mitchell’s drilling investments. VMW’s exceptional staff have more than a combined 100 years’ experience in manufacturing for the Drilling industry. VMW continue to supply timely, certified products ensuring minimum down time on valuable drilling rigs.
WestSide Corporation Limited
WestSide Corporation Limited (ASX code: WCL) is a publicly listed Brisbane-based gas producer with significant reserves and exploration interests in Queensland. WestSide operates the Meridian Seam Gas gasfields 160km west of Gladstone in Queensland's Bowen Basin in a joint venture with Mitsui E&P Australia. Nathan Mitchell was appointed to the board in December 2008 and assisted in building WestSide into the country’s leading junior gas producer. In 2014 The Mitchell Group successfully exited their investment in WestSide by way of an off market share sale to Landbridge Energy Australia.
Salva Resources (now HDR Salva), is an exporation, mining and commodities consultancy providing services to some of the worlds largest mining an investment firms around the world. In 2009 the Mitchell Group made a cornerstone investment in the start-up company, backing management and a clear strategy to become a leader in the provision of exploration and consulting services. In 2011 Salva Resources was the 9th fastest growing company in the country (BRW awarded) and had expanded with offices in Brisbane, London, Jakarta, Mongolia, and Kolkata. Nathan Mitchell sat on the board from 2009 to 2013 at which stage the Mitchell Group exited its investment in Salva Resources as part of a trade sale to US engineering giant, HDR Inc.
Millennium Coal mine is located in the Bowen Basin and is currently owned and operated and Peabody Energy. The Mitchell Family seeded Millennium Coal by way of a drill for equity, backing Edik Choros and his vision to develop a leading metallurgical coal mine in Queensland. The Mitchell Family exited their investment in Millennium Coal was in 2005, by way of a takeover by Australia’s then largest independent coal producer, Excel Coal for A$150 million. The mine was subsequently purchased and developed by Peabody Energy in 2006.
Mayur Resources is a pioneering diversified mineral exploration and development company founded in part by the Mitchell Group. The company is focused on building Papua New Guineas first diversified mineral development group. The Mitchell Group co-founded the business on the back of the huge potential for resource development and close proximity to target markets. After securing various valuable coal, Iron Sands and copper/gold leases in PNG the Mitchell Group existed the business by way of a private share sale.
Sunshine Gas Limited
The Mitchell Family co-founded Sunshine Gas in 2002 through a combining of gas exploration blocks with Tony Gilby. After Sunshine successfully listed n the ASX, the Mitchell Family completed exploration and production well drilling on Sunshine's tenements over a number of years. In 2008 the Mitchell Group existed their investment by way of a takeover by Queensland Gas Company (QGC) for A$830m.