Norwegian energy giant Equinor (EQNR) dipped 0.9% in late trading Thursday, following its announcement of two major new natural gas and condensate discoveries in the North Sea—its largest finds this year.
Preliminary estimates suggest the Lofn and Langemann wells may hold 30 million to 110 million barrels of recoverable oil equivalent. Located in the Sleipner area off Norway’s western coast, these reserves can be developed for the European market using existing infrastructure.
The discoveries underscore Equinor’s strategic positioning to bolster energy supply amid growing regional demand.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments