Total makes North Sea oil find, but Statoil comes up dry


Total (TOT) reportedly has found oil with a wildcat well located a few miles east of the Heimdel field in the central North Sea; the preliminary estimate of the size of the discovery is 3.1M-6.3M barrels.

Statoil (STO), however, has come up dry in its latest North Sea well, drilled east of the Jotun field in the central North Sea.

TOT +2.3% premarket.

From other sites
Comments (3)
  • Michael Fitzsimmons
    , contributor
    Comments (11637) | Send Message
     
    Nice find for TOT. No problem for STO - even the best explorer can hit a dry hole occasionally.
    21 Feb 2014, 09:11 AM Reply Like
  • userwcSX
    , contributor
    Comments (67) | Send Message
     
    That's ridiculous. 3-6M barrels? For Total, that's like reporting that Barrick found a really big nugget.
    21 Feb 2014, 09:29 AM Reply Like
  • Maobama
    , contributor
    Comments (508) | Send Message
     
    Serious over-reaction on this news. It's a miniscule find and TOT only has a 40% interest! Not even worthy of a headline really.
    21 Feb 2014, 12:54 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs