Is the North Sea oil business starting to pick up again? Certainly some heavy investment is now underway and a lot of activity can be seen in the small oilers area. Parkmead just picked up 10% of the Athena field and Excite are selling the data on Bentley (heavy). For those of you following the oil module, the North Sea together with Nighhawk discoveries in the Colorado acreage they hold and Fastnet activity both in the Irish Sea and North Africa among many others make for some very interesting possibilities. All of the world will come out of this recession eventually and if that is accepted then it is a difficult argument to say that the current $100+ average is not sustainable in the longer term.
01 June 2013
North Sea Boom??