Rex to drill eight wells in 2015

Singapore

CATALIST-listed oil exploration and production firm Rex International said it plans to take advantage of the lower cost of drilling services and participate in the drilling of eight wells this year: three in Norway, two in Oman, two in Trinidad, and one in Germany.

In an operational update released on Monday, CEO Mans Lidgren said that Rex's current limited oil production levels mean it is less affected by falling oil prices.

But the company will be prudent with its capital expenditure for drilling activiti…