Back to top

Analyst Blog

Zacks Equity Research

Eni and Anadarko Sign HOA


 ZacksTrade Now

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at or call 800-767-3771 ext.  9339.

Italy’s biggest oil and gas company Eni Spa (E - Analyst Report) entered into a Heads of Agreement (HOA) with US-based Anadarko Petroleum Corporation (APC - Analyst Report) for the development of natural gas reservoirs in offshore Mozambique.

Both the companies will carry out separate but coordinated offshore activities in Area 4 and Area 1. While Area 4 is operated by Eni, Area 1 is operated by Anadarko.

Anadarko has a 36.5% participating interest in Area 1 and its other partners are Japan's Mitsui, India's BPRL Ventures and Videocon, Thailand's PTT and Mozambique's Empresa Nacional de Hidrocarbonetos (ENH). Eni has a 70% participating interest in Area 4, with Galp Energia, South Korea's KOGAS and ENH having 10% each.

Jointly, Eni and Anadarko also planned to build a common onshore LNG liquefaction facility in the Cabo Delgado Province of northern Mozambique. The facility is expected to be in operation by 2018 and expand to a 10-train 50 million tons per annum (mtpa) export facility.

Based in Rome, Italy, Eni Spa with its consolidated subsidiaries is engaged in oil and gas, electricity generation, petrochemicals, oilfield services and engineering industries. The company’s major business segments are Exploration and Production (E&P), Gas and Power, and Refining and Marketing.

Anadarko primarily operates through three business segments: Oil & Gas Exploration & Production, Midstream and Marketing. The Oil & Gas Exploration & Production segment explores and produces natural gas, crude oil, condensate and NGLs. This division accounts for the lion’s share of Anadarko’s revenues and earnings.

Both, Eni and Anadarko hold a Zacks #3 Rank that is equivalent to a Hold rating for a period of one to three months. Longer term, we maintain our Neutral recommendation on the stocks.

Please login to or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research


Are you a new Zacks Member or a visitor to

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
LAKE SHORE G LSG 0.77 +6.05%
SKECHERS USA SKX 38.53 +4.50%
QUESTCOR PHA QCOR 80.07 +2.47%
VIPSHOP HOLD VIPS 156.35 +1.82%
ENLINK MIDST ENLC 36.29 +1.60%