BluEnergies Ltd. Partners with TotalEnergies in JSAA Agreement Covering 8,924 km²
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
0mins
Source: PRnewswire
- Agreement Signing: BluEnergies has entered into a JSAA with TotalEnergies to further explore potential hydrocarbon resources in the Liberia Harper Basin, which is expected to advance deepwater project developments and enhance the company's market position.
- Budget and Planning: The parties have established a budget for a work program over the next 18 months, covering the reprocessing of 6,167 km² of 3D seismic data aimed at improving resource assessment accuracy, thereby reducing exploration risks and optimizing investment returns.
- New License Acquisition: BluEnergies and TotalEnergies have jointly secured a new exploration license, RL-003, covering 8,924 km², which will provide legal assurance for further exploration activities and enhance the feasibility of their collaboration.
- Market Outlook: By partnering with TotalEnergies, BluEnergies can leverage its technology and resources, positioning itself more favorably in the West African oil and gas market, which is expected to attract increased investor interest.
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: 65.670
Low
62.50
Averages
68.49
High
81.52
Current: 65.670
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.
