Mike Watts News
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Cairn Energy Plc ended this year’s $600 million drilling program off Greenland after the biggest exploration campaign attempted in the Arctic island’s waters failed to make a viable discovery.
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Cairn Energy Plc , the explorer selling its Indian operations to Vedanta Resources Plc, is prepared to invest $1.2 billion to drill 10 to 12 wells in Greenland, Deputy Chief Executive Officer Mike Watts said.
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Cairn Energy Plc fell in London trading after its first well off Greenland found natural gas rather than crude oil.
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Cairn Energy Plc, the Scottish oil company focusing on exploration off Greenland, will announce an expansion of its operation in the Mediterranean Sea when it reports first-half results on Aug. 23.
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Bill Gammell will step down as chief executive officer of Cairn Energy Plc at the end of this month to become non-executive chairman.
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Cairn Energy Plc, the Scottish oil company focusing on exploration off Greenland, fell to a 17- month low in London after abandoning a well.
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Cairn Energy Plc , the explorer selling its Indian operations to Vedanta Resources Plc, will write off the $185 million cost of two wells drilled off Greenland after they failed to make commercial discovery.
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Cairn Energy Plc started drilling the first of four planned wells off west Greenland, Upstream reported, citing Mike Watts , deputy chief executive officer.
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Cairn Energy Plc dropped the most in 19 months in London trading after announcing it will write off $185 million in costs of two exploration wells drilled off Greenland after they failed to make a commercial discovery.
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Cairn Energy Plc had record sales in 2010 as production increased in India where it’s selling a majority stake of its business to help finance oil and gas exploration off Greenland.
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