Stingray well has no sting, say Premier Oil
Resources giant Premier Oil is to plug and abandon the Stingray exploration well in the UK North Sea after it came up dry.
Resources giant Premier Oil is to plug and abandon the Stingray exploration well in the UK North Sea after it came up dry.
Premier holds a 50% stake in the well. The next exploration well to be drilled by Premier in the UK North Sea is the Carnaby well on the Catcher acreage, which Premier expects to start drilling towards the end of next week. The Sedco 711 rig will then drill the Premier-operated Coaster prospect on the adjacent block to Carnaby.
The share price fell 0.6% to 378.10p by 09:17.
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
NR
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.
-
How does the Lifetime ISA work? Key LISA rules
What is a Lifetime ISA (LISA) and how much could the government bonus boost your savings by? We look at the perks and the pitfalls.
-
AJ Bell: a fine British fintech going cheap
Opinion Don’t overlook investment platform AJ Bell, a significantly undervalued British business with an excellent financial base