Perhaps you were thinking Exxon (XOM), BP (BP) or Chevron (CVX)? Nope: StatOil (STO) discovered more oil and gas in 2013 than did any other company. You can view a list of their main discoveries here. But this is actually nothing new. According to data compiled by IHS Global and StatOil, this is the 3rd year in a row STO has led the industry in finding oil and gas. While StatOil might not be the flashiest oil company, and its majority ownership by the country of Norway is seen as a negative by many investors, the company's exploration success bodes well for why I own the shares: stable long-term dividend income.
StatOil: Leading the Exploration Industry For 3rd Year Running
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The graphics above were taken from StatOil's October 30, 2013, Q3 presentation and depicts YTD volumes. The company made additional discoveries in Q4 including Snilehorn and another 2-3Tcf (360-540 million boe) from Tanzania. Two of its biggest discoveries put StatOil on the Forbes' 10 Biggest Oil and Gas Discoveries Of 2013:
•Tanzania: 17-20 Tcf gas (~3 billion boe)
•Bay du Nord: 300-600 million boe
StatOil is the operator of the Tanzania wells and has a 65% interest. Exxon Mobil holds the remaining 35%. Statoil plans to drill 9 to 12 exploration and appraisal wells in Tanzania by early 2015. STO and BG (BG), which has also made significant gas finds in Tanzania, have submitted proposals to build an onshore LNG facility to serve the Asian markets.
Bay du Nord was the largest oil discovery in the world in 2013.
Optimizing The Portfolio
But of course there is more to running an oil company than exploration alone: quarterly earnings, production growth and optimizing the portfolio are three that come to mind. On the portfolio optimization front STO gets high marks. The company realized ~$17 billion (US$) in proceeds from divestments from 2010 through 2013. STO will use the proceeds to pay down debt and focus cap-ex on the most economic opportunities and toward developing its big
This company is in great shape. Buying at these levels will make you lots of money. You are a fool posting lies. You smell like sweatsocks.....
You are a moron. Go away stupid people.
Of course this is a message board and we cannot now what anybody has done with their money. But one can lie.
Fluck off, liar. If carbon has increased as you say, its been getting colder, contrary to your foolish theory. What we have is weather. California is a desert, and in deserts, rain is rare. Lie someplace else, #$%$.
You have no idea what you talking about. We import millions of barrels of heavy oil from Venezuela, which can be replaced with Canadian. Now #$%$