Open Range Surges After Spinoff of Service and Supply Business

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.

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