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Finder Energy Holdings Limited ( (AU:FDR) ) has shared an announcement.
Finder Energy’s Timor-Leste subsidiary has signed a non-binding letter of intent with SundaGas Banda Unipessoal, part of Sunda Energy, to jointly secure a drilling rig for offshore campaigns. The partners will coordinate rig procurement and share drilling costs across their respective programs.
The planned combined campaign, covering SundaGas’s appraisal well at the Chuditch gas field and Finder’s three KTJ Project development wells, is expected to run for nearly 200 days. Management expects the collaboration to deliver operational efficiencies and cost savings through shared logistics, procurement synergies and improved rig utilisation, potentially enhancing project economics and execution certainty for both parties.
The most recent analyst rating on (AU:FDR) stock is a Hold with a A$0.60 price target. To see the full list of analyst forecasts on Finder Energy Holdings Limited stock, see the AU:FDR Stock Forecast page.
More about Finder Energy Holdings Limited
Finder Energy Holdings Limited is an Australian oil and gas company focused on offshore exploration and development, including projects in Timor-Leste. Through its subsidiaries, the company targets gas and liquids resources, positioning itself within regional upstream energy markets and leveraging partnerships to advance drilling and development campaigns.
Average Trading Volume: 774,725
Technical Sentiment Signal: Buy
Current Market Cap: A$270.1M
See more insights into FDR stock on TipRanks’ Stock Analysis page.