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The latest update is out from BW Energy Ltd. ( (DE:6BW) ).
BW Energy has completed the drilling operations on the Kharas-1 appraisal well in the Kudu license area offshore Namibia, reaching a depth of 5,100 meters. The discovery of hydrocarbons in a fractured volcaniclastic reservoir confirms a working petroleum system in the area, marking the first confirmation of liquid hydrocarbons within the Kudu block. The results provide valuable geological data and necessitate further appraisal to assess the reservoir’s potential, with future programs focusing on high-value targets based on these findings.
More about BW Energy Ltd.
BW Energy is a growth-focused exploration and production company with a strategy centered on developing proven offshore oil and gas reservoirs through low-risk phased developments. The company leverages existing production facilities to expedite time to first oil and cash flow while minimizing investment compared to traditional offshore developments. BW Energy’s portfolio includes significant interests in offshore and onshore fields in Gabon, Brazil, and Namibia, and it holds shares in Reconnaissance Energy Africa Ltd.
Average Trading Volume: 146,040
Current Market Cap: NOK10.31B
See more data about 6BW stock on TipRanks’ Stock Analysis page.