‘Disappointing’ results: Statoil says exploration wells off Newfoundland empty

ST. JOHN’S, N.L. — Statoil says two exploration wells drilled about 500 kilometres off Newfoundland’s east coast have come up empty.

Trond Jacobsen of Statoil Canada says the results are “disappointing” as the company and its partner Husky Energy (TSX:HSE) assess next steps for drilling near the Bay du Nord field.

It’s estimated the frontier field contains about 300 million barrels of recoverable oil.

Statoil says the two exploration wells were safely drilled in the Flemish Pass Basin within tie-back vicinity of its 2013 Bay du Nord discovery.

Oil in those wells would have increased options for any potential development.

HERE'S WHAT TO KNOW

Summer pool hours extended and discounts applied as Big Marble Go Centre upgrades start

Apr 18, 2024

Medicine Hat company drawing in clients with witty signage

Apr 16, 2024

Medicine Hat College holding event for missing and murdered Indigenous women awareness day

Apr 16, 2024

Statoil Canada President Paul Fulton says the company is still evaluating future drilling and the feasibility of a production site at Bay du Nord.

The Canadian Press