Latest Dublin Prices

Aer Lingus 2.15 -0.08 more
BoI 0.27 0.00 more
CRH 21.32 -0.14 more
Glanbia 14.30 -0.07 more
Greencore 0.64 -0.02 more
Ind. News 0.12 0.01 more
Ryanair 10.40 -0.10 more


Tullow's Norway well fails to find oil

Monday, July 21 10:05:07

Irish owned energy prospector, Tullow Oil, this morning said it has failed to strike at the Oseberg Sor field in the North Sea, with the Lupus-1 well falling short.

The wildcat in PL 507 was drilled to test hydrocarbon potential of the Paleocene Hermod formation in a stratigraphic trap.

It also targeted reservoir quality sandstones of the Paleocene Ty formation of the Rogaland group.

Good quality sandstones were found, but there were no hydrocarbons encountered in either sandstone.

Data from the well will be used to de-risk the area for the next exploration wells in the cue.

The well will now be plugged and abandoned. It was drilled to a total depth of 2357 metres using the semi-submersible Borgland Dolphin rig.

Drilling kicked off earlier this month targeting net mean resources of 167 million barrels.

Tullow is the operator of the production licence, holding 60pc equity. Partners Explora Petroleum holds 20pc, while Ithaca Energy holds 10pc and North Energy holds 10pc.