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UPDATE 1-Statoil finalizes a 19-month exploration program offshore Newfoundland, confirms volumes

Published 2016-06-10, 02:53 a/m
© Reuters.  UPDATE 1-Statoil finalizes a 19-month exploration program offshore Newfoundland, confirms volumes
CVX
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BP
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EQNR
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(Adds Statoil partners)
June 10 (Reuters) - Statoil Asa STL.OL :
* Statoil, along with its partners, has finalized a 19-month
exploration Month exploration drilling program offshore
Newfoundland
* The drilling program included four exploration wells in
close vicinity of the 2013 Bay du Nord discovery, as well as
three appraisal wells on the discovery. In addition, two
exploration wells were drilled in areas outside the Bay du Nord
discovery
* The appraisal and near-field exploration of the Bay du
Nord discovery has reduced key reservoir uncertainties and
confirmed that the volumes are within the original volume range
of the 300 to 600 million barrels of recoverable oil initially
estimated by Statoil in 2013, but potentially towards the lower
end of the range
* Statoil's assessment of the commercial potential of the
Bay du Nord discovery is ongoing
* Statoil's partners are Chevron (NYSE:CVX) CVX.N , BP BP.L and Exxon (NYSE:XOM)
Mobil XOM.N

Source text for Eikon: http://www.statoil.com/en/NewsAndMedia/News/2016/Pages/10jun-newfoundland.aspx

Further company coverage: STL.OL

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