Phillips 66 (PSX) has an average rating of overweight and mean price target of $189.94, according to analysts polled by FactSet.
(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Reach Subsea (REACH.OL) said Tuesday it will exclusively collaborate with Beacon Offshore for potential subsea projects in Australia.The memorandum of agreement will see the two entities market, tender for, and implement the projects, with access to two DPII offshore vessels, GO Explorer and GO Supporter.The partnership builds on the subsea services company's operations in Australia.
Eni (E) and partners Petroci and Vitol approved the final investment decision for Cote d'Ivoire's Baleine Phase 3 project, advancing development of the country's largest hydrocarbon discovery, Eni said Monday.The phase 3 development is expected to raise oil production to 150,000 barrels per day from 60,000 barrels and increase gas output to 200 million cubic feet per day from 80 million cubic feet per day, the company added.Eni shares were down 0.6% in premarket activity Tuesday.
Sound Energy (SOU.L) entered a binding deal to sell its entire share capital in the Sound Energy Merijda unit to Morocco-based Managem.The deal will mark the transition energy company's exit from the Tendrara exploitation concession by disposing of its 20% interest in the onshore project in Morocco, according to a Tuesday filing.The company will also relinquish its 27.5% interest in the Anoual exploration permit and waive any remaining rights in the Grand Tendrara exploration permit.The proceeds will be used to repurchase outstanding 28.8 million-euro 5% senior secured notes before their December 2027 maturity.