Seplat's $1.28B Asset Deal with Exxon Gets Regulatory Boost: Report
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
- Exxon Mobil Asset Sale: Exxon Mobil Corporation's asset sale to Seplat Energy could be approved in less than two weeks, ending a two-year delay since the deal was signed.
- Regulatory Approval: Seplat Energy has been waiting for regulatory approval of the $1.28 billion deal with Exxon since 2022.
- Nigerian Upstream Petroleum Regulatory Commission (NUPRC): The NUPRC chief mentioned that consent for the deal could be given within two weeks from the date of the meeting.
- Financial Impact: Approval of the deal is expected to inject much-needed capital into Nigeria's oil industry and improve oil output.
- Other Deals: Exxon Mobil Corporation is also preparing to close its $60 billion deal for Pioneer Natural Resources Co, offering investment opportunities through XOM stock.
Analyst Views on IYE
Wall Street analysts forecast IYE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IYE is USD with a low forecast of USD and a high forecast of 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.
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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.
