Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Open Range Surges After Spinoff of Service and Supply Business

Don't Miss Out —
Follow us on:

Nov. 4 (Bloomberg) -- Natural-gas explorer Open Range Energy Corp. soared 31 percent after the spinoff of its service and supply business, Poseidon Concepts Corp., became effective.

Adjusted to reflect the spinoff, Open Range shares jumped 55 Canadian cents to C$2.31 after closing at a record yesterday. Open Range, based in Calgary, surged 40 percent on Sept. 6, the day it said it would form the new company.

Poseidon climbed to C$12.30 after opening at C$11.20.

To contact the reporter on this story: Matt Walcoff in Toronto at mwalcoff1@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net