British oil explorer Cairn Energy is to team up with Norwegian group Statoil to look for oil and gas in Greenland, showing industry interest in the Arctic remains strong despite high-profile drilling failures.Cairn said on Monday it signed a deal which will see Statoil acquire a 30.6 percent stake in one of Cairn's exploration licences off the coast of Greenland, part of a long-stated plan to get a partner to share costs exploring the region.Cairn has led a $1.2 billion charge into the Arctic over the past two years which has so far failed to find oil.The oil industry hopes to open up a new multi-billion oil province off the coast of Greenland, with Exxon Mobil, Royal Dutch Shell and Husky Energy and others all watching Cairn's drilling campaign closely, as they also plan to explore there.
Husky Energy Inc. (Husky) is an integrated international energy and energy related company. Shares of HSE remained unchanged at $24.20. In the past year, the shares have traded as low as $20.63 and as high as $30.58. On average, 1292450 shares of HSE.TO exchange hands on a given day and today's volume is recorded at 549738.
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