Markets

PetroBakken Up 9% As Sees 15% Production Growth in 2012; Heavily Traded Today

PetroBakken Energy Ltd. (PBN.TO) enjoyed sharp gains today of nearly 9% after seeing heavy trading, as it announce that it expects to see 2012 production grow 15%.

The shares of the oil and gas producer went up to $10.87 in the afternoon by almost 9% from yesterday's $9.99 close, with 1.3 million shares that have already changed hands, after the company said that it expects to produce between 50,000 and 54,000 barrels of oil equivalent per day next year, mostly from its operations in the Bakken and Cardium light oil plays of Saskatchewan and Alberta.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More