Magellan Petroleum Corp. (NASDAQ:MPET) shares saw an uptick in trading volume on Thursday . 697,870 shares changed hands during mid-day trading, an increase of 54% from the previous session’s volume of 452,017 shares.The stock last traded at $2.46 and had previously closed at $2.50.

The firm has a 50 day moving average price of $1.30 and a 200-day moving average price of $1.10. The stock’s market cap is $16.19 million.

Magellan Petroleum Corporation is an oil and gas exploration and production company, which focuses on the development of carbon dioxide (CO2) enhanced oil recovery (CO2-EOR) projects in the Rocky Mountain region. The Company owns exploration acreage in the Weald Basin, and an exploration block, NT/P82, in the Bonaparte Basin, offshore Northern Territory in Australia.

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