Statoil Sees Prospects in King Lear, Crux Wells, Upstream Says

Statoil ASA (STL) estimates the King Lear and Crux wells to be drilled later this year in the North Sea may each hold more than 250 million barrels of oil equivalent gross, Upstream reported, citing Gro Gunleiksrud Haatvedt, Statoil’s head of exploration off Norway.

Statoil will be willing to take more risk drilling in growth prospects in order to develop clusters, Haatvedt told the Oslo-based newspaper.

To contact the reporter on this story: Stephen Treloar in Oslo at streloar1@bloomberg.net

To contact the editor responsible for this story: Christian Wienberg at cwienberg@bloomberg.net

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