Wessex well spudded off French Guyana
Wessex rose on Thursday after it said drilling had started at a well off the coast of French Guiana in which it has a small stake.
Wessex rose on Thursday after it said drilling had started at a well off the coast of French Guiana in which it has a small stake.
The firm said the GM-ES-3 well was spudded by operator Shell on 29th December.
Wessex, through holding 50% of Northpet Investments, owns a net 1.25% interest in the offshore exploration licence 'Guyane Maritime'.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Wessex's chief partners are Shell, which owns 45%, Tullow with 27.5%, and Total with 25%.
Chairman Malcolm Butler said this was the second well in the four well programme to assess the potential of the deep waters offshore French Guiana as a new oil province.
Wessex's shares were up 5% by 1500 following the announcement.
MM
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
8 of the best riverside properties for sale
The best riverside properties for sale – from a Grade II-listed former mill house with views over the River Chelmer in Essex, to a townhouse on a Georgian terrace overlooking the Avon Gorge in Clifton, Bristol
-
Will “Liberation Day” strike again?
Donald Trump’s 90-day tariff pause comes to an end on 9 July. Can we expect further market turmoil?