Hess Corp. said Monday it has discovered natural gas in sandstone on Australia's Northwest Shelf.
The New York-based company said its Briseis-1 exploration well, the second of four wells being drilled this year in the area, found 151 feet of net gas pay.
The well was drilled in 3,668 feet of water by a semi-submersible rig, and the gas was discovered in Jurassic and Triassic sandstone, the company said.
Shares of Hess rose $2.93, or 3 percent, to $100.78 in the morning session.
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