CNOOC Ltd. (CEO) is on the rise during Wednesday's pre-market trading on news that its WenChang oil fields have successfully run into trial production stage.
At 9:05 am ET the stock is trading at $179.65 up $8.30 from Tuesday's close.
With the advance, the stock will open above its 50-day moving average and at its highest level in a month.
Currently, through 7 wells the fields can produce approximately 14,000 barrels of oil per day.
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