- InterOil (IOC -0.2%) suspends drilling at its Wahoo-1 wildcat well in Papua New Guinea, citing safety concerns from higher than expected pressure and gas entering the wellbore.
- The well was designed for high pressures based on data from other wells in the region but the pressures exceeded by nearly 50% even those of IOC's nearby Antelope discovery.
- IOC is exploring in blocks surrounding its Elk and Antelope gas discoveries with Total (NYSE:TOT) as part of a $300M program.
From other sites
at CNBC.com (Dec 30, 2014)
at Nasdaq.com (Dec 11, 2014)
at CNBC.com (Aug 1, 2014)
at MarketWatch.com (Dec 6, 2013)
at MarketWatch.com (May 24, 2013)
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