Cairn Energy drills another dry hole in Greenland
British oil explorer Cairn Energy PLC said it drilled a dry hole off the coast of Greenland, its sixth unsuccessful well in the country, denting hopes that a new multibillion barrel basin is waiting to be found in the Arctic region.
UK-based oil and gas exploration and production firm Cairn Energy has secured a second drilling rig for its exploration program in the Disko West area, offshore Western Greenland, in the second half of 2010.