There’s been no luck in an effort to find new reserves near a multimillion-barrel prospect in the Barents Sea, the Norwegian government stated Monday. The Norwegian Petroleum Directorate, the nation’s energy regulator, released data from a wildcat effort carried out by the regional subsidiary of Spirit Energy about 75 miles north of the Johan Castberg field in the Barents Sea. Probing the so-called Kolje formation, a wildcat well is one drilled into an area not previously known to contain hydrocarbons. “No reservoir rocks were encountered in the Kolje formation,” the NPD stated. “The well is dry.” Oil was first discovered at Johan Castberg in 2011, but its future was in doubt when the price of crude oil collapsed in early […]