This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Statoil ASA's Management Hosts Exploration Seminar (Transcript)

Stocks in this article: STO

So, we have to be able to take very good care or we need to have to be prepared for all eventualities. And I can say to you that the exploration statistics, these are the core positions I’ll show, the exploration statistics over the last two years are equally as good as what we have done in the corporate.

As you know from our global footprint, we have different challenges we are facing. Physical challenges like ultra deepwater I mentioned 2,800 meters of water depth on Pao, similar in Tanzania, similar in Gulf of Mexico. In other places, you can add to that the challenge of seasonable icebergs, things like seasonal icebergs like in the – of the Northeast Coast of Canada. You can add small margins, high pressure, high temperature conditions, Gulf of Mexico just about every well you drill is very challenging for that respect. King Lear, another we – you all know about the King Lear well in the south of the North Sea.

And then more recently, we also have to handle other issues like the threat of piracy of the eastern coast of Africa and that threat is real. I am not going to the details, but there are lot of evidence that there is the piracy activity is it’s there, it’s real, and it’s active all the way down through East African coast. So, we don’t only have to maintain, but we have to continue to focus and improve on this. And the reason for that is that we have to be ready for even more demanding challenges going forward. In the Arctic especially, we have acreage in Alaska. We have acreage offshore Northeast Canada, but also of the north board known the Beaufort Sea and not least now with the position we have picked up with Rosneft offshore Russia both in the Barents Sea and the Sea of Okhotsk, where ice is also a challenge. So, this is our license to operate and it’s something that we have to – continue focus on day-in, day-out.

5 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,678.70 +6.10 0.03%
S&P 500 2,057.09 +5.27 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs