NEWS

Nov 11 (Reuters) – ConocoPhillips said on Wednesday it has discovered gas condensate offshore Norway, sending the oil producer’s shares up 2% in premarket trade.

The discovery was made northwest of the Heidrun oil and gas field and 150 miles (241.4 km) from the coast of Norway in the Norwegian Sea.

The company said preliminary estimates place the size of the discovery between 50 million barrels and 190 million barrels of recoverable oil equivalent.

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