President Energy has announced a funded transformational acquisition in Argentina. The company has acquired a producing conventional asset in the prolific Neuquén Basin from Chevron, immediately increasing Argentine production to 2,000boe/d by adding c1,200boe/d net, and increasing 2P Reserves by 25% to 25mmboe. The transaction generates strong financials at the current oil price of US$55/bbl. We forecast 2018 revenue of cUS$69.5m generating EBITDA of cUS$26m increasing to cUS$47m in 2
21 Sep 2017
Initiation of coverage: Argentina has the best stakes (CORP)
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Initiation of coverage: Argentina has the best stakes (CORP)
Molecular Energies PLC (MEN:LON) | 11.5 0 0.0% | Mkt Cap: 1.42m
- Published:
21 Sep 2017 -
Author:
Cavendish Research -
Pages:
28
President Energy has announced a funded transformational acquisition in Argentina. The company has acquired a producing conventional asset in the prolific Neuquén Basin from Chevron, immediately increasing Argentine production to 2,000boe/d by adding c1,200boe/d net, and increasing 2P Reserves by 25% to 25mmboe. The transaction generates strong financials at the current oil price of US$55/bbl. We forecast 2018 revenue of cUS$69.5m generating EBITDA of cUS$26m increasing to cUS$47m in 2