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An update from 88 Energy ( (AU:88E) ) is now available.
88 Energy Limited has announced the sale of its 75% non-operated working interest in the Permian Basin’s Project Longhorn to Lonestar I, LLC for $3.25 million. This divestment aligns with 88 Energy’s strategy to focus on high-impact exploration opportunities in Alaska and Namibia, allowing the company to redeploy resources into core exploration assets and maintain financial discipline. The transaction removes future cost obligations from Project Longhorn, enabling 88 Energy to pursue higher-return opportunities and accelerate growth in its exploration portfolio.
More about 88 Energy
88 Energy Limited operates in the oil and gas industry, focusing on exploration and production. The company is primarily engaged in high-impact exploration activities in Alaska and Namibia, aiming to deliver significant returns through its strategic exploration projects.
Average Trading Volume: 1,185,313
Technical Sentiment Signal: Sell
Current Market Cap: A$25.46M
For a thorough assessment of 88E stock, go to TipRanks’ Stock Analysis page.