Current STO Stock Info

Believes peak production from the Johan Sverdrup offshore field could reach 380 MBOPD
Norway-based Statoil (ticker: STO), the largest acreage holder on the Norwegian Continental Shelf (NCS), added to its portfolio by acquiring more than 37 million shares of Lundin Petroleum (ticker: LUPE).

The acquisition, announced on January 14, 2016, is valued at SEK 4.6 billion (roughly US$540 million) and consists of nearly 12% of Lundin’s outstanding shares. According to the Statoil release, “The investment in Lundin Petroleum will increase Statoil’s ...

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