Oil & Gas

PA Resources to sell oil and gas assets, CFO to depart


PA Resources said it will sell off all of its oil and gas assets as the company’s chief financial officer also revealed he will be leaving the firm. The Swedish Independent said a review of the company’s strategic options had been up for review since April this year. PA Resources said it had found no viable alternatives with regard to long-term financing or mergers and acquisitions.

Oil & Gas

Lundin spuds North Sea well


Swedish oil and gas explorer Lundin Petroleum has begun drilling of well 25/10-12S in the Kopervik Prospect. The well will investigate the hydrocarbon potential of the Kopervik Prospect in PL25, which is located 175km west of Haugesund on the Norwegian coast.