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Bloomberg reported that Statoil ASA rose as much as 2.3% after its discovery in the Gullfaks field in the North Sea, which could potentially mean cheaper oil.
Bloomberg reported that Statoil ASA rose as much as 2.3% after its discovery in the Gullfaks field in the North Sea, which could potentially mean cheaper oil.
As quoted in a news report from Bloomberg:
Statoil estimates the discovery to hold 40 million to 150 million recoverable barrels of oil equivalent at a shallower level than existing Brent deposits in the license, it said in a statement today. While the estimates are still uncertain, a well test indicates good flow rates, Statoil said.