AlphaMena on Thursday lowered its price target for Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, to 15.70 Saudi riyals from 16.30 riyals, while maintaining a reduce rating.
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Geodrill (GEO.TO), a West African based drilling company, announced Thursday that the Toronto Stock Exchange has accepted its notice of intention to renew its normal course issuer bid to purchase outstanding ordinary shares of the company on the open market in accordance with the rules of the TSX.Management and the board of directors of Geodrill believes that the underlying value of the company may not be reflected in the market price of the ordinary shares from time to time, a statement said. "Accordingly, the purchase of ordinary shares will increase the proportionate interest in the company of, and be advantageous to, all remaining shareholders of the company," it added.Any such purchases will occur from time to time and in aggregate will be up to 2,375,656 ordinary shares (being approximately 5% of the issued and outstanding ordinary shares of the company) over a 12-month period commencing on June 7, 2026 and terminating on June 6, 2027.Shares in GEO edged down $0.01 to $2.96 on the TSX yesterday.
Expro Group (XPRO) said Thursday it has filed its definitive proxy statement with the Securities and Exchange Commission regarding its proposed move to redomicile in the Cayman Islands from the Netherlands.Expro said the move would cut annual costs by more than $600,000, improve flexibility for dividends and buybacks, and potentially enhance index eligibility and M&A flexibility.In addition, shareholders would retain the same economic ownership in the company, which would remain listed on the NYSE under the "XPRO" ticker, Expro said.Expro said proxy advisory firm Institutional Shareholder Services has revised its initial position and now recommends shareholders vote in favor of the redomicile proposal.
Matador Resources (MTDR) entered into multiple agreements with affiliates of Energy Transfer, including a natural gas supply agreement, Matador said Thursday.Matador said it signed separate natural gas liquids agreements with different Energy Transfer affiliates to dedicate and sell NGLs from multiple sources in the Delaware Basin to Energy Transfer.The company said the new gas supply agreement is expected to help bridge the period before its transportation agreement on the Hugh Brinson Pipeline becomes effective and allow it to realize higher natural gas prices for a portion of its production during the second half of the year.