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BW Energy has reported a significant oil discovery on the northern flank of the Hibiscus field in the Dussafu licence offshore Gabon, following drilling of the DHIBM-7P pilot well. Drilled to a depth of 3,941m from the MaBoMo production platform, the DHIBM-7P pilot well has confirmed approximately 24m of pay within a 37m hydrocarbon column. This is based on ...
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video Crude oil has been sitting in an interesting position recently as it has been consolidating up against resistance around the 200-Day MA for two weeks. The significance of the 200-Day line was increased today as the purple 20-Day MA has fallen to converge with the 200-Day line. Together, the two lines represent a formidable near-term resistance zone ...