Island Innovator Spuds-In Off Stavanger

The Island Innovator semi-submersible started turning to the right at PL674BS within the Zulu prospect located approximately 100 kilometers west of Stavanger and approximately 30 kilometers northeast of the Johan Sverdrup discovery. The rig is on contract to Lundin Norway and will be drilling a relatively shallow well - total depth 1,020 meters, to determine the hydrocarbon … [Read more...]

Lundin Petroleum Cuts 2015 CAPEX by 31 Percent

OSLO, Jan 7 (Reuters) - Swedish oil firm Lundin Petroleum , which is working on the giant Johan Sverdrup field in the Norwegian sector of the North Sea, will cut its capital spending by 31 percent to $1.45 billion in 2015, it said on Wednesday. Lundin will focus its expenditure on finishing its ongoing projects and its overall field development budget will fall by 30 … [Read more...]

Lundin Drills Sixth Dry Well, Prompting Cut in Analyst Estimate

By Jonas Cho Walsgard (Bloomberg) -- Lundin Petroleum AB , a Swedish oil explorer with a stake in one of Norway’s biggest discoveries, drilled a sixth unsuccessful well in a row, prompting Swedbank AB to lower its estimate of the value of the company’s assets. Lundin, based in Stockholm, drilled a dry well at the Kopervik prospect in Norway’s North Sea, the Norwegian … [Read more...]

Lundin Finds Oil and Gas in the Barents, Transocean Arctic Spuds-In

Utilizing the Island Innovator semi-submersible drilling rig, Lundin Norway AS announced today a significant oil and gas discovery in the southern part of the Barents Sea. While wildcat drilling in the Alta prospect in production license 609, Lundin discovered a 46-meter oil column with an overlying 10-meter gas column with good reservoir properties, according to Lundin. … [Read more...]

Ocean Vanguard Spuds in at Johan Sverdrup as Det Norske Strikes Out in the Barents

Under contract by Statoil since 2013, Diamond Offshore's Ocean Vanguard semi-submersible drilling rig has commenced drilling an appraisal well today at PL265 located on the Johan Sverdrup discovery. Lundin Petroleum, a JV parter at PL265 notes their main objective for this well is to "investigate the Jurassic presence, reservoir thickness, quality and distribution on the … [Read more...]