Longboat Shares Jump on Discovery at Kveikje Well in Norway
April 05 2022 - 3:43AM
Dow Jones News
By Jaime Llinares Taboada
Shares in Longboat Energy PLC rose Tuesday after the company
reported a significant hydrocarbon discovery at the Kveikje
exploration well offshore Norway, which is operated by Equinor
ASA.
The oil-and-gas company, which has a 10% interest in the
license, said the preliminary estimate of recoverable resources in
the Kveikje Main target is between 28 and 48 million oil-equivalent
barrels, above pre-drill expectations.
The discovery has excellent quality and is close to existing
infrastructure, Longboat said.
Shares at 0703 GMT were up 22% at 75.0 pence.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
April 05, 2022 03:28 ET (07:28 GMT)
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