Oil & Gas – Falklands oils: Time to pause and draw breath

After a busy three years of drilling up to the end of 2012, activity in the Falklands in 2013 is significantly quieter, with the focus switching to 3D seismic acquisition. Much was learnt in the 2012 South Falklands drill programme, although an oil discovery remains elusive. Borders exited the 2012 campaign with what could be a commercial condensate development in Darwin, while in the north Rockhopper secured a partner for its Sea Lion discovery. This success still gives investors much to buy into; however, the reality is that with no drilling likely in either basin until late-2014, a lack of near-term drill catalysts may keep investors away for some months.

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