10 Firms Buck Market Bloodbath on Monday

8. Equinor ASA (NYSE:EQNR)

Equinor rallied by 4.23 percent on Monday, the second straight day, to close at $24.15 each as investor sentiment was fueled by news that the company, alongside its partners Okea and Pandion Energy, have successfully discovered new gas and condensate sources in its Mistral Sor exploration in the southern part of the Norwegian Sea.

According to EQNR, preliminary findings indicate that the discovery contained between 3 and 7 million standard cubic meters of recoverable oil equivalent (o.e.), which corresponds to 19-44 million barrels of recoverable o.e.

“Norwegian gas is in high demand and is crucial to Europe’s energy security. That’s why it’s important for us to continue exploring and making new discoveries so we can maintain a high level of deliveries,” said EQNR Vice President for Exploration and Production North Grete B. Haaland.