We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Eni (E) Announces Massive Offshore Oil Discovery in Ivory Coast
Read MoreHide Full Article
Eni SpA (E - Free Report) announced a massive oil discovery in block CI-101. The block is situated off the coast of Ivory Coast and is operated by Eni, with a 90% ownership stake. The remaining 10% is owned by Petroci Holding.
The integrated energy firm confirmed the discovery of light oil in the block. According to the preliminary estimates of the company, the discovery potential can be in the range of 1.5 to 2 billion barrels of oil and 1.8 to 2.4 trillion cubic feet (TCF) of associated gas.
The discovery well was drilled with the employment of the Saipem 10,000 drill ship at a water depth of 1,200 meters. A total of 3,445 meters depth was reached by the company in a span of 30 days.
In the Ivory Coast, Baleine-1x is the first exploration well that was drilled by the energy giant. The other four blocks in the Ivorian deep water where Eni has participating interests are CI-205, CI-501, CI-504 and CI-802.
Headquartered in Rome, Italy, Eni currently sports a Zacks Rank #1 (Strong Buy). Other prospective players in the energy space include Whiting Petroleum Corporation , Continental Resources, Inc. and PDC Energy, Inc. . While Whiting Petroleum and Continental Resources sport a Zacks Rank #1, PDC Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Whiting Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days.
Continental is expected to witness earnings growth of 256% in 2021.
PDC Energy is likely to see earnings growth of 111.8% in 2021.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Eni (E) Announces Massive Offshore Oil Discovery in Ivory Coast
Eni SpA (E - Free Report) announced a massive oil discovery in block CI-101. The block is situated off the coast of Ivory Coast and is operated by Eni, with a 90% ownership stake. The remaining 10% is owned by Petroci Holding.
The integrated energy firm confirmed the discovery of light oil in the block. According to the preliminary estimates of the company, the discovery potential can be in the range of 1.5 to 2 billion barrels of oil and 1.8 to 2.4 trillion cubic feet (TCF) of associated gas.
The discovery well was drilled with the employment of the Saipem 10,000 drill ship at a water depth of 1,200 meters. A total of 3,445 meters depth was reached by the company in a span of 30 days.
Eni SpA Price
Eni SpA price | Eni SpA Quote
In the Ivory Coast, Baleine-1x is the first exploration well that was drilled by the energy giant. The other four blocks in the Ivorian deep water where Eni has participating interests are CI-205, CI-501, CI-504 and CI-802.
Headquartered in Rome, Italy, Eni currently sports a Zacks Rank #1 (Strong Buy). Other prospective players in the energy space include Whiting Petroleum Corporation , Continental Resources, Inc. and PDC Energy, Inc. . While Whiting Petroleum and Continental Resources sport a Zacks Rank #1, PDC Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Whiting Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days.
Continental is expected to witness earnings growth of 256% in 2021.
PDC Energy is likely to see earnings growth of 111.8% in 2021.