BluEnergies Ltd. Enters JSAA with TotalEnergies to Explore Harper Basin Potential
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: PRnewswire
- Agreement Signing: BluEnergies has signed a Joint Study and Application Agreement (JSAA) with TotalEnergies' Liberian subsidiary to explore the deepwater hydrocarbon potential of the Harper Basin, which is expected to facilitate future production sharing contract applications.
- Budget Commitment: Both parties have jointly committed to executing a work program over the next 18 months, with a budget allocated for advanced seismic reprocessing and seabed data acquisition, demonstrating a strong commitment to the project's success.
- Data Reprocessing Plan: The program includes reprocessing 6,167 square kilometers of 3D seismic data to enhance reservoir imaging accuracy, which is anticipated to provide critical support for exploration in the Harper Basin and promote effective resource development.
- New License Acquisition: BluEnergies and TotalEnergies' Liberian subsidiaries have secured a new Reconnaissance License (RL-003) covering 8,924 square kilometers, further solidifying their collaborative foundation in the Harper Basin and facilitating future exploration activities.
Analyst Views on TTE
Wall Street analysts forecast TTE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TTE is 68.49 USD with a low forecast of 62.50 USD and a high forecast of 81.52 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.
8 Analyst Rating
2 Buy
6 Hold
0 Sell
Hold
Current: 66.530
Low
62.50
Averages
68.49
High
81.52
Current: 66.530
Low
62.50
Averages
68.49
High
81.52
About TTE
TotalEnergies SE is a France-based company. The Company is predominantly engaged in the business as a worldwide oil group. Its segment divisions are divided into refining and chemistry such as refining of petroleum products and manufacture of basic chemistry and of specialty chemistry, petroleum products distribution, electricity generation from combined cycle gas plants and renewable energies, gas production, trading, transport and distribution primarily includes liquefied natural gas, natural gas, biogas, hydrogen, liquefied petroleum gas and hydrocarbon operating and production. The group is also operating in trading and sea transport of crude oil and oil products.
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.
