InterOil Corporation celebrates New York Stock Exchange Listing

InterOil Corporation (NYSE-Listed IOC) celebrates the company’s listing on the New York Stock Exchange after moving its listing from NYSE Amex, a U.S. equities market of NYSE Euronext (NYX), the NYSE reports.

In honor of the occasion, Chairman and CEO Phil Mulacek rings The Opening Bell.

 InterOil Corporation is the first Asia Pacific company to move its listing from NYSE Amex to the NYSE since NYSE Euronext’s acquisition of the former American Stock Exchange. 

InterOil Corporation joins the following roster of NYSE-listed companies from the region:  Alumina Limited (AWC); BHP Billiton Limited (BHP); James Hardie Industries N.V. (JHX); Sims Group Limited (SMS); Westpac Banking Corporation (WBK); Telecom New Zealand (NZT); P.T. Telekomunikasi Indonesia (TLK); P.T. Indosat Tbk (IIT); and Philippine Long Distance Telephone Co. (PHI).

InterOil Corporation is developing a vertically integrated energy business whose primary focus is Papua New Guinea and the surrounding region.

 InterOil’s assets consist of petroleum licenses covering about 4.6 million acres, an oil refinery, and retail and commercial distribution facilities, all located in Papua New Guinea. 

In addition, InterOil is a shareholder in a joint venture established to construct a liquid natural gas plant on a site adjacent to InterOil’s refinery in Port Moresby, Papua New Guinea.

InterOil Corporation recently announced that its Antelope-1 well flowed at 382 million cubic feet of natural gas per day (MMcfd) with 5,000 barrels of condensate per day (BCPD) for a total 68,700 barrels of oil equivalent per day (BOEPD), setting a new record rate for the country of Papua New Guinea.

The record breaking gas flow rate confirms other records recently established by the well, such as the largest vertical hydrocarbon column height in a single onshore carbonate reef structure.

The well results establish the country of Papua New Guinea as a world class natural gas resource base in close proximity to the largest and most well developed LNG market in the world. (Source: InterOil Corporation)