The Lord and Penna Partnership was formed in 2001 with the purchase of Woolthorpe Station, Aramac. The partnership was formed by James and Marjorie Lord of May Downs Station Mount Isa, Ardie and Kacie Lord of Sutherland Station Richmond and Gerard and Linda Penna. Gerard and Linda are responsible for the management of growth of the Lord and Penna business. Bayrick Station was purchased in June 2006 along with Camroo that was purchased by Lord Pastoral. The two properties although separate enterprises are both managed together. In 2012 another property was added to the Lord and Penna business.  This is Coreena near Barcaldine.