Referenced Stocks

CNOOC Limited Reports Two New Exploration Discoveries

By Midnight Trader,  August 20, 2012, 07:07:54 AM EDT

CNOOC Limited ( CEO ) announced today that it has made 2 new exploration discoveries in Luda 6-2 and Lufeng 15-1.

The company said it has successfully drilled Luda 6-2-4 and Luda 6-2-5 this year and encountered 40 and 147.6 meter thick of oil pay zones respectively. The average daily production was tested to be around 850 barrels. In addition, Lufeng 15-1-2 drilled in 2012, encountered 26.8 meter thick of oil pay zones and was tested with a daily production of around 800 barrels.

CEO edged lower by 75 cents to $199.83 on Friday.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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