3 Energy Stock Stories Sparking Investor Interest on Tuesday
Statoil ASA (NYSE:STO): Closing price $22.26
Statoil’s Chief Executive Helge Lund said Monday during a Houston briefing for a number of journalists, that its early move into new plays and a geographically diverse portfolio have contributed to making Statoil into one of the world’s top oil and gas exploration companies. The Norwegian firm has discovered over 550 million barrels of oil equivalent since the beginning of 2013, including finds in offshore Canada, East Africa and U.S. shale plays. Lund observed that, “In the middle of the last decade we changed our strategy — we decided to go after bigger positions earlier with higher risks, where we could see high impact opportunities,” adding that the strategy has led to investments in significant new space in Russia, Australia, the Gulf of Mexico, and Brazil.