Eni Sells Alaskan Upstream Assets To Hilcorp In Strategic Streamlining: Details
Portfolio Pulse from Lekha Gupta
Eni S.p.A. (NYSE:E) has finalized a binding agreement to sell its Alaskan upstream assets to Hilcorp, aligning with its strategy to streamline operations and rebalance its portfolio. The transaction's value will be disclosed upon closing, pending regulatory approvals. Eni aims for a net portfolio inflow of ~$8.5 billion over 2024-27 by upgrading its upstream portfolio and reducing high equity ownership in exploration discoveries.
June 27, 2024 | 1:44 pm
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Eni S.p.A. has finalized a binding agreement to sell its Alaskan upstream assets to Hilcorp, aligning with its strategy to streamline operations and rebalance its portfolio. The transaction's value will be disclosed upon closing, pending regulatory approvals.
The sale of non-strategic assets aligns with Eni's strategy to streamline operations and rebalance its portfolio, which is likely to be viewed positively by investors. The stock price has already seen a 1.55% increase, indicating a favorable market reaction.
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