Total and InterOil are proposing exploration wells for an area that could be larger than the Elk/Antelope field.
InterOil’s new partnership with Total will transform the small Texan company into a mainstream explorer and boost its credibility after several years of uncertainty around its Papua New Guinea prospects, according to analysts.
Total’s farm-in agreement – worth between $1.5 and $3.6 billion – is a “major transformation” in a “controversial mid-cap company”, analysts at Morgan Stanley said on Sunday. “Post-deal, InterOil now has improved credibility, a strengthened balance sheet and better visibility to future cash flows.”
Olivia Boyd, an energy analyst at IHS, also called the...
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