Blackstone Considers Sale of Beacon Offshore Energy Valued Over $5 Billion
Written by Emily J. Thompson, Senior Investment Analyst
Source: seekingalpha
- Potential Sale: Blackstone Inc. is evaluating the sale of Beacon Offshore Energy, which it has owned for about a decade, with a potential valuation exceeding $5 billion, indicating a strategic shift in its asset management approach.
- Market Interest: The sale could attract larger producers operating in the Gulf of Mexico, such as Chevron, BP, and Shell, highlighting the asset's appeal and potential competitive interest in the market.
- Early Stages: According to a Bloomberg report, Blackstone is in discussions with investment banks to market the company as soon as Q1, demonstrating its sensitivity to market timing and conditions.
- Decision Uncertainty: Despite the ongoing evaluation, Blackstone has not made a final decision and may opt not to sell, reflecting a cautious approach to asset disposition.
Discover Tomorrow's Bullish Stocks Today
Receive free daily stock recommendations and professional analysis to optimize your portfolio's potential.
Sign up now to unlock expert insights and stay one step ahead of the market trends.
Analyst Views on BP
Wall Street analysts forecast BP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BP is 84.26 USD with a low forecast of 6.38 USD and a high forecast of 503.69 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
5 Buy
5 Hold
1 Sell
Moderate Buy
Current: 37.700
Low
6.38
Averages
84.26
High
503.69
Current: 37.700
Low
6.38
Averages
84.26
High
503.69
About BP
BP p.l.c. is a United Kingdom-based integrated energy company. The Company's segments include Gas & low carbon energy, Oil production & operations, Customers & products, and Other businesses & corporate. Its gas business includes regions with upstream activities that produce natural gas, integrated gas and power, and gas trading. Its low carbon business includes solar, offshore and onshore wind, hydrogen and carbon capture and storage and power trading. Oil production & operations segment comprises regions with upstream activities that predominantly produce crude oil, including bpx energy. Customers & products segment comprises its customer-focused businesses, which include convenience and retail fuels, electric vehicle charging, as well as Castrol, aviation and business to business and midstream. It also includes its products businesses, refining and oil trading, as well as its bioenergy businesses. Other businesses & corporate segment comprises technology and bp ventures.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
BP and Shell Seek US Licenses for Natural Gas Development
- Gas Development Licenses: BP and Shell are seeking U.S. licenses to develop natural gas fields shared with Venezuela, indicating their strong interest in the Latin American energy market.
- Loran-Manatee Discovery: Shell aims to secure a license for the Loran-Manatee field, which holds approximately 10 trillion cubic feet of natural gas, with 7.3 trillion cubic feet on the Venezuelan side, potentially enhancing its competitive position in the region.
- Cocuina-Manakin Project: BP plans to develop the Cocuina-Manakin field, with the Venezuelan portion linked to the idled Plataforma Deltana offshore gas project that has 1 trillion cubic feet of proven reserves, which could facilitate its expansion in Latin America if approved.
- Dragon Field Production Plans: Production at the Dragon field is expected to commence in Q4 2027, with an output of 350 million cubic feet per day, further solidifying Trinidad and Tobago's status as Latin America's largest LNG exporter.
Continue Reading
UK Prime Minister Starmer's Visit to China Aims to Reset Relations
- Trade Relationship Review: In 2015, then-Chancellor Osborne predicted UK exports to China would exceed £30 billion, yet actual exports in 2020 were only £14.5 billion, a 39% drop from 2019, highlighting the significant impact of Brexit and the pandemic on trade.
- High-Level Visit Context: Starmer's trip marks the first visit by a UK Prime Minister since Theresa May eight years ago, aiming to reset relations with China and attract more investment to support the UK's economic recovery.
- Business Delegation Participation: Accompanying Starmer are executives from top UK firms like BP, Rolls-Royce, and AstraZeneca, underscoring the government's commitment to strengthening economic ties with China, particularly in the green energy sector.
- Human Rights Issues Addressed: Starmer is expected to raise human rights concerns with Xi, including the case of imprisoned Hong Kong businessman Jimmy Lai, indicating that while seeking to reset relations, the UK government remains attentive to moral and security issues with China.
Continue Reading