After going eight-for-eight in oil discoveries off the coast of Senegal, Australian energy company FAR Ltd. said it expects a revision to reserve estimates. FAR Ltd. said it confirmed an oil discovery at the VR-1 well about 3 miles away from its SNE discovery off the coast of Senegal. It’s the eighth successful well drilled offshore Senegal since work started in 2014. “The VR-1 well has been highly successful, providing important information regarding the geology of the western flank of the SNE field,” Managing Director Cath Norman said in a statement . The SNE oil field met the minimum threshold to be considered a commercial opportunity by the third quarter of 2016, less than two years after it was discovered. By the company’s estimates , more than 1.5 billion barrels of oil may be in basins off the coast of Senegal and the results from […]