Helios defers drilling, blames oil price

NORTH AMERICA focussed small cap Helios Energy has deferred its drilling program for the first quarter, blaming low oil prices, despite US onshore benchmark West Texas Intermediate sitting at US$54 per barrel this morning, putting it close to current Brent prices and not far what it was trading a year prior.

Helios defers drilling, blames oil price Helios defers drilling, blames oil price Helios defers drilling, blames oil price Helios defers drilling, blames oil price Helios defers drilling, blames oil price

 

On Monday, the ASX listed junior oil producer said it would not drill an additional production well at its Presidio Oil Project in Texas, US.