Referenced Stocks

Royale Energy Rallies 16% After ConocoPhillips Acquires Adjoining Acreage

By MT Newswires,  November 14, 2012, 01:46:06 PM EDT

Royale Energy ( ROYL ) shares are witnessing upside on news that ConocoPhillips ( COP ) has been awarded as the Apparent High Bidder on Block 749 in Alaska's North Slope Areawide 2012W Lease Sale, with a bid of $171.93 per acre.

The purchased block is immediately adjacent to ROYL's Block 613, part of 33,736 acres in the ROYL's Colville River holdings and part of the overall 91,060 acre holdings on state acreage on the North Slope. ROYL's overall average cost per acre is $27.21 and the cost of block 613 was $20.10 per acre.

ROYL shares are up 16% on the news, COP shares are down 0.3%.




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

Referenced Stocks: COP, ROYL



Latest News Video

Take Control Of Your Wealth
Take Control Of Your Wealth         
How to Avoid Getting Caught Pre-Defection
How to Avoid Getting Caught Pre-Def...
WSJ House of the Week: And the Winner Is…
WSJ House of the Week: And the Winn...
How to Invest When Interest Rates Rise
How to Invest When Interest Rates R...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.




Most Active by Volume:

Company Last Sale Change Net / %
PFE $ 29.40 0.24  0.82%
NOK $ 3.86 0.17  4.61%
S $ 7.32 0.10  1.39%
BAC $ 13.27 0.06  0.45%
GE $ 24.33 0.56  2.36%
MU $ 13.76 0.52  3.93%
SIRI $ 3.40 0.06  1.80%
MNKD $ 6.605 0.94  12.40%