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Noreco notches sales record at $116/bbl


Published May 6, 2008
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Stavanger-based North Sea player Norwegian Energy Company, or Noreco, said it set a new price record for May 2008 crude sales with its traders making $116 a barrel.

The company averages $105 per barrel in April, when it produced 11,100 barrels of oil equivalent per day.

The average prices stated are per barrel of oil equivalents after cost of put options.

Noreco expects two new production wells to come onstream soon at the Danish field Siri .

Much North Sea oil is paid for in euro currency denominations.

Tags: Noreco



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