In 2015 Otto transformed from producer to pure explorer. With the drop in commodity prices, this was perfect timing. The first well under the new strategy was not successful – its fully carried Hawkeye-1 exploration well (offshore the Philippines) was declared uncommercial in October and it is seeking to exit the area. However, Otto has added to the portfolio with entry into the Alaskan North Slope, a recent deal in Louisiana and drilling in Tanzania in 2016, pointing to an exciting yea
18 Dec 2015
Focused on 2016
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Focused on 2016
In 2015 Otto transformed from producer to pure explorer. With the drop in commodity prices, this was perfect timing. The first well under the new strategy was not successful – its fully carried Hawkeye-1 exploration well (offshore the Philippines) was declared uncommercial in October and it is seeking to exit the area. However, Otto has added to the portfolio with entry into the Alaskan North Slope, a recent deal in Louisiana and drilling in Tanzania in 2016, pointing to an exciting yea