[Asia Economy Reporter Minwoo Lee] Curo Holdings' stock price is on the rise. As natural gas prices surge, gas-related stocks are soaring, and it appears that news highlighting Curo Holdings' subsidiary's oil and gas field operations in the United States has drawn attention.
As of 10 a.m. on the 28th, Curo Holdings' stock price recorded 630 KRW, up 11.90% from the previous day. Following the recent sharp increase in natural gas prices, the oil and gas field business of Curocom Energy, LLC., a subsidiary in which entertainment company Curo Holdings holds a 63.65% stake, has come into focus.
According to Curo Holdings' semi-annual report filed with the Financial Supervisory Service's electronic disclosure system, Curocom Energy is involved in oil and gas field development in the U.S. states of Louisiana and Texas, currently producing crude oil and gas in blocks such as Happytown.
Meanwhile, natural gas prices are soaring ahead of the impacts of Hurricane Ida and increased winter demand. On the 27th (local time), the October natural gas contract on the New York Mercantile Exchange closed at $5.706 per million Btu (British thermal units), up 57 cents (11%). This is the highest level since February 2014.
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