88 Energy (“88E”) announced the sale of its 75% working interest in Project Longhorn, a non-operated producing asset in the Permian Basin, Texas, to operator Lonestar I, for total consideration of US$3.25mm (US$2.3/boe of net 2P reserves of 1.4mmboe at end 2024). The divestment follows a strategic portfolio review, with management concluding that Longhorn’s capital-intensive future development plans, which envisaged a multi-well programme with US$18mm of investment required, no longer aligned wi ....
