The Falkland Islands Government welcomed the announcement on Thursday morning that a drilling rig has been contracted by a consortium of licensees for a new six-well program of offshore exploration and appraisal work commencing in early 2015.
Noble Energy Inc. (NBL) unveiled a discovery in the Big Bend exploration area in the Gulf of Mexico as it also abandoned another well off the shore of the Falkland Islands that yielded a low-quality reservoir.
Falkland Oil and Gas Ltd. (FOGL) focused on exploration in areas to the South and East of the Falkland Islands reported on Tuesday that the well drilled at its Scotia prospect discovered poor quality hydrocarbons.
Falkland Oil and Gas Ltd announced Monday that the well drilled to the East of the Falkland Islands to a depth of over 4.000 meters is a gas discovery. The statement comes after a rough week for FOGL when its shares plummeted following poor and unfounded press coverage.