DNO Jumps Most in Month as New Wells Push Tawke Output to Record
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DNO International ASA, a Norwegian oil producer focused on northern Iraq, gained the most in a month in Oslo after two new horizontal wells increased output at its Tawke field in the Kurdistan region of Iraq to a record.
The company rose 5.7 percent, the biggest gain since Feb. 20, to 23.17 kroner by 9:38 a.m. About 1.9 million shares were traded, a third of the average three-month daily volume. DNO began output from the wells at a combined flow rate of 37,000 barrels of oil daily, pushing Tawke’s production to a record 129,000 barrels a day on March 5, it said today in a statement.