Equinor Strikes Gas in Norwegian Sea's Mistral Sor Well

Equinor ASA EQNR and its partners, Okea and Pandion Energy, have made a new gas and condensate discovery in the “Mistral Sor” exploration well in the Halten area, located in the southern part of the Norwegian Sea. Preliminary estimates suggest that the find contains 19-44 million barrels of recoverable oil equivalent.Grete B. Haaland, Equinor’s senior vice president for Exploration & Production North, emphasized the importance of continued exploration to meet the growing European gas demand. She noted that Mistral Sør benefits from proximity to existing gas infrastructure, strengthening its commercial potential.The discovery is considered commercially viable, and the licensees are evaluating options for linking it to existing infrastructure or developing it alongside other finds in the area.Mistral Sor is situated in the Asgard and Kristin area, just north of Linnorm — the largest undeveloped gas discovery on the Norwegian Continental Shelf. Equinor assumed operatorship of Linnorm in 2023 and recently discovered hydrocarbons in the Lavrans field, which is being developed as a tie-back to Kristin Sor.The Deepsea Atlantic drilling rig, operated by Odfjell Drilling, drilled the well in production licence 1119. The well encountered a 45-meter hydrocarbon column in the Garn Formation, with strong reservoir properties. The well was drilled to a depth of 4,024 meters before being permanently plugged. Although no hydrocarbons were found in the secondary target, extensive data acquisition and sampling were conducted before the well was permanently plugged.Following this operation, the Deepsea Atlantic will move to commence drilling on the 15/8-G-4 Utgard field, continuing Equinor’s active exploration program. The discovery at Mistral Sor underscores its successful exploration efforts in the Norwegian Sea, enhancing production potential in the region.EQNR’s Zacks Rank & Key PicksEQNR currently carries a Zacks Rank #3 (Hold).Investors interested in the energy sector may look at some better-ranked stocks like Antero Resources Corporation AR, NextDecade Corporation NEXT and EOG Resources, Inc. EOG. While Antero Resources presently sports a Zacks Rank #1 (Strong Buy), NextDecade and EOG Resources carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.Antero Resources, one of the fastest-growing natural gas producers in the United States, boasts a strategic acreage position in the low-risk properties of the Appalachian Basin. The company has more than two decades of premium low-cost drilling inventory in the prolific basin, securing a strong production outlook. AR is well-positioned to capitalize on the increasing demand for LNG, both in the United States and globally. NextDecade is an emerging player in the LNG space with its Rio Grande LNG project in Texas. As demand for LNG continues to grow, the company’s strategic investments in infrastructure and its planned liquefaction capacity provide strong upside potential. With the global LNG market expanding, NEXT is well-positioned to tap into the increasing export demand from the United States.EOG Resources is an oil and gas exploration and production company with an attractive growth profile, upper-quartile returns and a disciplined management team. With highly productive acreages in premier oil shale plays like the Permian and Eagle Ford, the company has numerous untapped high-quality drilling sites. Additionally, EOG maintains a strong balance sheet and continues to reward shareholders with regular and special dividends. Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report EOG Resources, Inc. (EOG): Free Stock Analysis Report Antero Resources Corporation (AR): Free Stock Analysis Report NextDecade Corporation (NEXT): Free Stock Analysis Report Equinor ASA (EQNR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks