OMV's (OMVJF) Wildcat Well Encounters Gas Offshore Norway [Yahoo! Finance]
OMV AG BEARER SHS S/ADR (OMVKY)
NASDAQ:AMEX Investor Relations:
omvpetrom.com/portal/01/petromcom/petromcom/omv_petrom/investor_relations/omv-petrom-shares-gdrs/shareholding-and-stock-listing-history/!ut/p/b0/04_sj9cpykssy0xplmnmz0vmafgjzoin_e0tar0cny1cddw9pxw93hwndsbapzg1t78g21erac3xr1e!
Company Research
Source: Yahoo! Finance
OMV Norge drilled a wildcat well (6605/6-1 S) targeting the Haydn/Monn exploration prospects, which led to the successful discovery. The wildcat well was drilled using the semi-submersible rig Transocean Norge, owned by the renowned offshore drilling contractor Transocean RIG. The Transocean Norge rig is the first of its kind to have received the Abate (Power+) notation for its efforts in reducing greenhouse gas emissions related to its operations. The recoverable resources at the gas discovery are estimated to be in the band of 30-140 million barrels of oil equivalent (boe). The discovery lies in the production license (PL) 1194, operated by OMV. OMVJF holds a 40% stake in PL 1194, while its partners Vår Energi and Inpex Idemitsu Norge own a 30% stake each. The Norwegian Offshore Directorate (“NOD”) noted that 6605/6-1 S was the first well to be drilled in PL 1194. The preliminary estimates at the primary exploration target suggest that the size of the discovery lies in the r
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