About 586,000 shares of Golar LNG were traded by 12:03 p.m. Thursday, compared to the company's average trading volume of about 1.7 million shares a day.
On Tuesday Golar LNG announced that it commenced negotiations with partners Keppel and Black & Veatch to exercise an option under its existing agreement to order the third GoFLNG vessel. The new vessel would be similar to the company's Hilli and Gimi vessels.
The company hopes to mature the option of the agreement and have its partners deliver the vessel for start-up in 2018. The company's first two units are targeted for 2017 and 2019 delivery for Cameroon and Equatorial Guinea, respectively.
Golar LNG said it does not see third GoFLNG option requiring the issuance of new equity.
Insight from TheStreet's Research Team:
Bryan Ashenberg and Bob Lang, Trfiecta Stocks Portfolio Co-Managers, have identified Golar LNG as the "Chart of the Day." Here's what they had to say about the stock's chart:
Golar LNG is involved in the very hot natural gas segment -- transporting, liquefying and trading the commodity. The names in this group had come under pressure with the drop in crude and the big rise in the dollar (which generally is negative for commodities).
Tuesday, the stock bolted higher on some very extreme volume, about 8x the average turnover. The upward channel was broken to the upside.