- Statoil (STO) says it made a gas discovery in the Kramsno prospect in the Barents Sea, but the exploration program around the Johan Castberg field has yet to deliver the expected oil volumes.
- STO's fourth well at the field found 2B-4B cubic meters of gas but of the wells drilled so far in its Castberg exploration campaign, oil has been found at just one; in December, STO found 20M-50M barrels of oil at Skavl, the third well in the campaign.
- STO -0.8% premarket.
Statoil makes gas find but oil hopes fade at Johan Castberg field
Feb 20 2014, 08:31 ET