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
-
ScottishPower launches half-price electricity at weekendsNews ScottishPower is offering 50% off electricity at weekends, which could slash hundreds off your bill. We look at who can get it and how to apply
-
Trump calls “tariff” the “most beautiful word in the dictionary”, but investors may disagreeDonald Trump has promised to slap Mexico, Canada and China with new tariffs on day one of his presidency. What does it mean for the economy and investors?
