Statoil (STO +1.6%) says it found "significant" new oil resources in the North Sea, with...


Statoil (STO +1.6%) says it found "significant" new oil resources in the North Sea, with preliminary calculations indicating the discovery in the Gullfaks oilfield contains in the range of 40M-150M recoverable barrels. The production well where tests are carried out is providing stable production of 7,500 bbl/day and has produced nearly 1M barrels since December.

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  • Michael Fitzsimmons
    , contributor
    Comments (11202) | Send Message
     
    Good action! STO is one of the most undervalued oil companies and it sports a nice dividend too.
    19 Apr 2013, 10:11 AM Reply Like
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