Lundin takes loss on dry hole, currencies

April 22, 2015 1:11 PM

56 0

Lundin takes loss on dry hole, currencies

The company in January cut nearly half of its budget for exploration.

The company said it will take a pre-tax exploration cost of $45 million because its Gemini well was found to be dry and there were no commercial prospects in the Zulu discovery. Both exploration wells are off the coast of Norway.

Also watch: Raiders' Derek Carr signs new five-year deal worth $125 million

Read more

To category page

Loading...