Det Norske Oljeselskap more than halved its net loss in thefirst quarter from a year earlier despite hefty expenses on exploration thatresulted in two dry wells.
The Norwegian independent, which currently has minimal production,is now looking to upcoming field project start-ups to generate much-neededrevenue and reverse the flow of red ink.
The company reported negative earnings of Nkr104 million($17.8 million) for the three-month period, compared with Nkr252 million a yearearlier, as operating revenue dipped slightly to Nkr97 million from Nkr102million in the same period of 2011.
