A “very significant” reservoir of oil was uncovered during a pilot program in British waters west of the Shetland Islands, a British-based company said Friday. “A very significant hydrocarbon column of at least 2,000 feet is present” in the Lancaster field in British waters, Hurricane Energy said in a statement. Robert Trice, the company’s CEO, said the pilot well confirmed a column of oil that was more extensive than the company first estimated. “Our initial assessment of the well results, which are subject to refinement of the provisional data, suggest that the Lancaster field is likely to be significantly greater than the 200 million barrels,” he said. Preliminary testing yielded a natural flow rate of 6,600 […]