Roth Capital Maintains Neutral Rating on APA Corp with Price Target of $23
Roth Capital notes that Bloomberg is reporting that Guyana is preparing a second pipeline that will bring natural gas from its deepwater oil fields to the shore where it will be used for power and other industrial development, according to Guyanese President Irfaan Ali. He also said that he wants to partner with neighboring Suriname for the second gas project as it would allow it to "move from a medium-sized project to a larger-scale project." APA Corp. owns around a 40% interest in the Gran Morgu development offshore Suriname and would serve to benefit from this gas project, the firm adds. Roth has a Neutral rating on the shares with a price target of $23.
