AUGUST saw first-half results from both Cairn Energy and Tullow Oil. As usual, the numbers proved to be largely a sideshow, with the market more interested in drilling results.
Turning to OMV, we reported in November that the company was seeking to farm-down "before doing battle" with its West of Shetland target, Tornado, hoping to divest a large chunk before starting drilling early in the new year.
OMV is seeking to reduce its exposure to risk at the Tornado prospect west of Shetland by farming out a large chunk of the licences which it straddles prior to drilling early next year.
LUNDIN has started the process of assessing potential farm-in partners for its SW Heather discovery in the UK Northern North Sea.