(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Tullow Oil Plc discovered light oil at its Carapa-1 well in Guyana, but the reservoir was smaller than the troubled company had expected prior to drilling. Shares fell 17%.The independent oil producer’s first discovery of the new year comes after a calamitous 2019 in which shares fell 64% and the chief executive officer and exploration chief stepped down. The commercial viability of Tullow’s previous offshore discoveries in Guyana remains in doubt after the reservoirs were found to contain heavy oil.“The Carapa-1 result …read more
Source:: Yahoo Finance
