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Posted by Neil Brunskill
Oil company Premier has announced that it has abandoned drilling at the Stingray Exploration well because it is dry.
Workers on the rig had drilled down to a depth of 2,129 metres, but it was decided that no significant amounts of the fossil fuel would be forthcoming and the well will be plugged.
Premier will now move on to the Carnaby well and then the Coaster prospect.
The news could prompt an increase in heating oil prices, but the extent of this should be tempered by last month's more positive news about the Solan oilfield, also in the North Sea.
Permission was given by the Department of Energy and Climate Change to start drilling there and it should be producing 24,000 barrels a day by the end of 2014.
Scottish energy minister Fergus Ewing recently said continued investment is required in the North Sea in order to sustain production and help the economic recovery.
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