Suriname Oil Boom On the Horizon: TotalEnergies, APA Near FID for Block 58
Portfolio Pulse from Lekha Gupta
TotalEnergies (TTE) and APA Corporation (APA) are nearing a Final Investment Decision (FID) for developing offshore Block 58 in Suriname, expected in Q4 2024. Production is set to begin in 2028, with significant advancements in engineering studies and resource estimation. Investors can gain exposure via the First Trust ETF (EIPX).
June 05, 2024 | 3:17 pm
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POSITIVE IMPACT
APA Corporation is nearing a Final Investment Decision (FID) for Block 58 in Suriname, with production expected to start in 2028. Significant advancements in engineering and resource estimation have been made.
The nearing of FID and advancements in engineering studies and resource estimation are positive indicators for APA Corporation, likely boosting investor confidence and stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to the developments in Suriname's Block 58 through the First Trust ETF (EIPX), which includes TotalEnergies and APA Corporation.
The ETF includes TotalEnergies and APA Corporation, both of which are nearing a significant FID for Block 58. This could positively impact the ETF's performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
TotalEnergies is nearing a Final Investment Decision (FID) for Block 58 in Suriname, with production expected to start in 2028. Significant advancements in engineering and resource estimation have been made.
The nearing of FID and advancements in engineering studies and resource estimation are positive indicators for TotalEnergies, likely boosting investor confidence and stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100