Vår Energi AS (OTCMKTS:VARRY) Trading Down 2.8% – Here’s Why

Vår Energi AS (OTCMKTS:VARRY)’s stock price dropped 2.8% during mid-day trading on Thursday . The company traded as low as $6.89 and last traded at $6.90. Approximately 22,936 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 22,767 shares. The stock had previously closed at $7.10.

Vår Energi AS Trading Down 2.8%

The company has a fifty day simple moving average of $6.49 and a two-hundred day simple moving average of $6.69.

Vår Energi AS Company Profile

Vår Energi AS is a Norway-based independent oil and gas exploration and production company listed on the OTC Markets (OTCMKTS: VARRY). Established in January 2018 through the merger of Eni Norge AS and Point Resources ASA, Vår Energi has rapidly become one of the largest operators on the Norwegian Continental Shelf. The company focuses on discovering, developing and producing hydrocarbons, with a portfolio that spans several prolific offshore fields.

The company’s operations are concentrated in the North Sea, the Norwegian Sea and the Barents Sea, where it holds interests in both operated and non-operated assets.