EOG Resources (EOG) has an average rating of overweight and mean price target of $161, according to analysts polled by FactSet.
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Energean (ENOG.L) said Wednesday that Etu Energias sought to exercise its pre-emption rights over Chevron's (CHV.F) interests in Block 14 and 14K in offshore Angola, which the natural gas-focused exploration and production company is planning to acquire.Energean added that its acquisition deal with Chevron remains in effect until the relevant pre-emption right is validly exercised and executed, and until a new sale and purchase agreement between Chevron and Etu Energias has been completed.The company also noted that the Angola-based Etu Energias, which is one of Chevron's joint venture partners, must satisfy the same buyer conditions, including proving that it is a deepwater oil and gas operator with at least one existing producing asset at water depths of over 300 meters.In March, Energean agreed to purchase Chevron's 31% operated interest in Block 14 and 15.5% non-operated interest in Block 14K for a base consideration of $260 million, plus up to $250 million in contingent payments.
Obsidian Energy (OBE) said Tuesday it has agreed to acquire Belly River light oil assets in the Wilson Creek area of Willesden Green from Highwood Asset Management for an unadjusted purchase price of 105 million Canadian dollars ($75.8 million).The company said the deal, expected to close around June 30, includes about 2,500 boe/d of production, 76% of which is oil, and 35 net sections of land.The acquisition, which would be funded through existing cash and credit facilities, will increase its Willesden Green land position to about 290 net sections and lift corporate production to roughly 31,400 boe/d based on the midpoint of its 2026 guidance, the company said.Obsidian Energy said the agreement also includes a contingent value payment of up to CA$7 million tied to future WTI oil prices, payable between Q3 and Q2 2027.
Capricorn Energy (CNE.L) said that Cafani Group's Alamadiyaf al-Masiyyah for Trading secured a further extension of the put-up-or-shut-up deadline for its planned acquisition of the energy production company.The deadline to make a firm takeover offer was extended to July 1 from Wednesday after securing the UK Panel on Takeovers and Mergers' consent, according to a same-day filing. Capricorn Energy, however, cautioned that there was no guarantee that a deal would be made.