Eni Uncovers Major Gas Reserves in Indonesia's Kutei Basin
Written by Emily J. Thompson, Senior Investment Analyst
Source: NASDAQ.COM
Eni's Gas Discovery: Eni S.p.A. announced a significant gas discovery in the Kutei Basin, offshore Indonesia, with initial estimates of 600 billion cubic feet of gas, potentially exceeding 1 trillion cubic feet with additional resources.
Development Synergies: The proximity of the discovery to Eni's existing facilities allows for efficient development and fast-tracking of the new gas resources, enhancing the company's operational capabilities in the region.
Future Exploration Plans: Eni plans to continue its exploration efforts in the Kutei Basin, with four additional wells scheduled for drilling in 2026, reinforcing its commitment to expanding its resource base.
Market Context: The article also highlights other energy sector companies with strong rankings, such as Oceaneering International, Canadian Natural Resources, and FuelCell Energy, indicating a competitive landscape in the energy market.
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Analyst Views on E
Wall Street analysts forecast E stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for E is 18.24 USD with a low forecast of 17.25 USD and a high forecast of 19.23 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.
3 Analyst Rating
1 Buy
2 Hold
0 Sell
Moderate Buy
Current: 41.680
Low
17.25
Averages
18.24
High
19.23
Current: 41.680
Low
17.25
Averages
18.24
High
19.23
About E
Eni SpA (Eni) is an Italy-based company engaged in the exploration, development and production of hydrocarbons, in the supply and marketing of gas, liquefied natural gas (LNG) and power, in the refining and marketing of petroleum products, in the production and marketing of basic petrochemicals, plastics and elastomers and in commodity trading. The Company's segments include Exploration & Production, Gas & Power, and Refining & Marketing. Its Exploration & Production segment engages in oil and natural gas exploration and field development and production, as well as LNG operations in over 40 countries, including Italy, Libya, Egypt, Norway, the United Kingdom, Angola, Congo, Nigeria, the United States, Kazakhstan, Algeria, Australia, Venezuela, Iraq, Ghana and Mozambique. Its Gas & Power segment engages in supply, trading and marketing of gas, LNG and electricity, international gas transport activities and commodity trading and derivatives.
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.
Shell and Eni Face $4B Arbitration Ruling in Kazakhstan
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- Compensation Range: While the final compensation amount is yet to be determined, external legal advice suggests that the consortium may need to repay between $2 billion and $4 billion, potentially impacting future financial planning and investment decisions.
- Contractual Changes: The arbitration ruling upheld the Kazakh government's position that the companies recovered unapproved cost overruns, which is expected to lead to changes in the oil distribution formula within the field's production sharing contract, affecting the project's profitability model.
- Consortium Structure: Shell and Eni each hold a 29.25% stake in the project, with other partners including Chevron at 18%, Russia's Lukoil at 13.5%, and KazMunayGaz at 10%, illustrating the diversified investment structure of the consortium.
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Repsol (REPYF) Reports Q4 Production Below Expectations, Stock Drops 6.2%
- Production Decline: Repsol's Q4 production averaged 544K boe/day, nearly 2% lower than last year and short of the 562K boe/day expected by investors, likely leading to a 5%-10% downward revision in adjusted income consensus expectations.
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