Statoil Joins Hunt For Tight Oil

CFW View: Statoil has decided to get an early foot in the door on one of the world's emerging tight oil plays. The NOC has farmed into Canadian-listed PetroFrontier 's vast acreage in the South Georgina Basin which one initial estimate suggests could hold 27.5bn barrels of un-risked prospective resources. Statoil will be hoping that further drilling uncovers a tight oil giant that could help diversify its reserves and production base away from mature North and Norwegian Sea assets.

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