Cairn reports on dry well

Edinburgh-based oil and gas giant Cairn Energy said a North Sea well in which it has a minority interest has been abandoned.

The firm said that Wintershall Norge AS, operator of production licence 370, had completed drilling of wildcat well 33/6-4, which was found to be dry.

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The objective of the well had been to prove petroleum in reservoir rocks from the Paleocene Age.

The well was the first exploration well in production licence 370.

The announcement did not perturb investors who pushed Cairn's shares up 1% in early trading.

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