Jersey Oil & Gas Shares Rise as Equinor Prepares to Drill Verbier Discovery
January 16 2019 - 9:26AM
Dow Jones News
By Adria Calatayud
Shares of Jersey Oil & Gas PLC (JOG.LN) rose Wednesday after
the company said Equinor ASA (EQNR.OS) will start operations at the
Verbier oil discovery in the North Sea shortly.
Jersey said these operations include the appraisal drilling of
the Verbier discovery, in which the oil-and-gas company holds an
18% stake. Equinor is the operator of the P2170 license area, where
the Verbier discovery is located, Jersey said.
The Norwegian state-backed oil giant, formerly known as Statoil,
has ambitious plans to invest in the U.K.'s North Sea, as a pickup
in activity across the country's oil-and-gas industry looks to be
supported by recovering crude prices.
Jersey shares at 1354 GMT were up 7.3% at 176.00 pence, having
earlier risen more than 10%.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
January 16, 2019 09:11 ET (14:11 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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