CNOOC Limited (CEO - Free Report) is willing to divest stakes in Scott platform and associate oilfields in the British North Sea and hence is on the lookout for buyers, per Reuters.
The sale could reportedly fetch the energy major several hundred million dollars. Notably, the Scott platform, being operated by CNOOC Limited, had gone online in 1993. The platform is involved in the production of oil and natural gas from the Scott, Telford and Rochelle fields. In the Scott, Telford and Rochelle fields, the company has operating stakes of 41.9%, 80.4% and 79.3% respectively.
The source added that the companies that are considering the assets are EnQuest plc – an independent exploration and production company with strong presence in United Kingdom Continental Shelf – and China Petroleum & Chemical Corporation or Sinopec (SNP).
CNOOC Limited is also reportedly planning to restart exploration in deepwater Gulf of Mexico. After a brief pause for few months owing to the virus outbreak, the company has decided to restart upstream operations at one of its two blocks in the region.
CNOOC Limited currently carries a Zacks Rank #2 (Buy). Other prospective players in the energy space include SilverBow Resources, Inc. (SBOW - Free Report) , Concho Resources Inc. and Murphy Oil Corporation (MUR - Free Report) , each holding a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
SilverBow has seen upward earnings estimate revisions for 2020 in the past 60 days.
Concho is likely to see earnings growth of 21.6% in 2020.
Murphy’s 2020 bottom-line estimates have been revised upward over the past 30 days.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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CNOOC Limited (CEO - Free Report) is willing to divest stakes in Scott platform and associate oilfields in the British North Sea and hence is on the lookout for buyers, per Reuters.
The sale could reportedly fetch the energy major several hundred million dollars. Notably, the Scott platform, being operated by CNOOC Limited, had gone online in 1993. The platform is involved in the production of oil and natural gas from the Scott, Telford and Rochelle fields. In the Scott, Telford and Rochelle fields, the company has operating stakes of 41.9%, 80.4% and 79.3% respectively.
The source added that the companies that are considering the assets are EnQuest plc – an independent exploration and production company with strong presence in United Kingdom Continental Shelf – and China Petroleum & Chemical Corporation or Sinopec (SNP).
CNOOC Limited is also reportedly planning to restart exploration in deepwater Gulf of Mexico. After a brief pause for few months owing to the virus outbreak, the company has decided to restart upstream operations at one of its two blocks in the region.
CNOOC Limited currently carries a Zacks Rank #2 (Buy). Other prospective players in the energy space include SilverBow Resources, Inc. (SBOW - Free Report) , Concho Resources Inc. and Murphy Oil Corporation (MUR - Free Report) , each holding a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
SilverBow has seen upward earnings estimate revisions for 2020 in the past 60 days.
Concho is likely to see earnings growth of 21.6% in 2020.
Murphy’s 2020 bottom-line estimates have been revised upward over the past 30 days.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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