The announcement of record gas production in Iraq rises in "Dana Gas" 1%

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The announcement of record gas production in Iraq rises in "Dana Gas" 1%

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 25 November 2020 10:50 AM

Dana Gas
DANA

 

0.45%0.680.00

Abu Dhabi - Mubasher: The share of Dana Gas rose during trading session today, Wednesday, after the disclosure of a new record level in the production of the Khor Mor field in Iraq.

At 11.42 am UAE time, the share price rose by 1.04 percent, to about 0.680 dirhams.

The stock was traded at a volume of 4.74 million shares, achieving liquidity of 3.23 million dirhams, through the implementation of 102 transactions.

This morning, the company announced a record rate of gas production from the Khormore gas processing plant in the Iraqi Kurdistan region of the Pearl Petroleum Corporation consortium, at a rate of 418 million standard cubic feet per day on the date of last Wednesday, which coincided with November 18 of this year.

Dana Gas recorded a year-on-year increase in its production rate in the Kurdistan Region of Iraq during the third quarter of 2020, by 6 percent, to reach 32,400 barrels of oil equivalent per day.

At that time, the general index of the Abu Dhabi Securities Exchange rose by 0.39 percent, to the level of 4966.64 points.

The total volume of shares traded in the meantime was 54.84 million shares, with a total trading value of 224 million dirhams.

It is noteworthy that Dana Gas  incurred losses of 1.39 billion dirhams at the end of the first nine months of 2020 , compared to achieving profits of 521 million dirhams during the same period in 2019 .