Antrim Reports Successful Sidetrack Drilling Near Erne Oil Discovery
Antrim Energy Inc. (TSX:AEN,AIM:AEY) announced drilling results from a sidetrack well in the North Sea next to the Erne discovery.
Articles Tagged "north sea"
Major North Sea Discovery by Statoil Renews Interest in Norway
A significant find by home-grown Statoil could provide a spark for the flagging Norwegian oil industry.
Positive Economic Outlook Spurs Crude
The oil market is bubbling over. Volatile at the best of times, the last year has been extraordinary even by those standards. When the price of crude came close to $150 a barrel, many thought the commodity was overpriced. And yet, some analysts are forecasting $200 a barrel before long. On Thursday, crude prices hovered above $61 a barrel in Asia after a more positive economic outlook from the U.S. central bank buoyed investor confidence. The Fed said industrial companies cut production far less in June than they had in previous months and that it now expects the economy to contract at a slower pace than previously thought.
Oil Price Peaks And Slides
Oil prices vaulted 9 per cent in NY Thursday, in tandem with a powerful stocks rally, as investors cheered G20 agreements to combat the global downturn and an easing of US accounting rules. On Friday, oil prices settled above $52 a barrel, slightly lower on the day after a report that US unemployment in March soared to a 25-year high. But optimism that the economy will soon turn around curtailed losses.
