BP Runs on Giant Discovery (BP)

Posted in pre-market 
September 2nd, 2009

BP PLC (NYSE: BP) has probably never given us the pre-market most active alert, but that is not the case today… BP stock is trading higher after it reported a giant oil discovery in a deep well drilled in the Gulf of Mexico and on the U.S. side of the oil fields.  It did note that an appraisal is needed before determining the real size and commercial possibilities of the find. At 8:39 AM EST we have the ADR shares trading up 3.5% at $52.25 and we have already seen 500,000 shares trade hands.  Average volume is 5.4 million per day. -JON OGG

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