Renergen surges after upbeat drilling update
One of the emerging energy group’s wells has delivered better-than-expected flow rates, sending its shares up 10% on Tuesday
Renergen’s shares were on track for their best day in more than six months on Tuesday, rising by double digits, after the natural gas and helium explorer reported better-than-expected gas flow from one of its wells.
Renergen said in an update that drilling at a well called R2D2 had been completed, and with a flow rate of 187,000 standard cubic feet of gas per day. This was one of its more significant gas strikes at its Virginia Gas project, about two thirds higher than average...