Oil firm DNO has made a small oil and gas discovery in the northern part of the Norwegian Sea, the Norwegian Petroleum Directorate (NPD) said on Dec. 13.
Preliminary estimates show the discovery west of Heidrun Field to hold between 6.3 million and 12.6 million barrels of recoverable oil equivalents, the NPD added.
DNO holds 40%, while ConocoPhillips and Wellesley Petroleum have 30% each in the production license 888 where the discovery was made.
Shares of Encana will be suspended from trading on the New York and Toronto stock exchanges on Jan. 27 at which time the company will begin trading as Ovintiv under the “OVV” symbol.
Under Don Santa’s nearly two decades of leadership, INGAA has accomplished multiple reauthorizations of the Pipeline Safety Act and also has shaped regulatory policy affecting interstate natural gas pipelines.
Oil majors are at the sharp end of the climate debate and face a bewildering balancing act to secure their futures.