Falkland Oil says Scotia well finds poor quality reservoir
Falkland Oil & Gas Ltd., the explorer focused on the namesake South Atlantic islands, said its Scotia well found a poor quality reservoir that won't yield oil or gas.
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.