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Galilee Energy Limited ( (AU:GLL) ) has issued an update.
Galilee Energy has signed a Master Service Agreement with US Gulf Coast consultancy Chalmers, Collins & Alwell to oversee critical aspects of developing its Zydeco Gas Project in Louisiana, including rig selection and coordination of key service providers for the Zydeco-1 well. The agreement is intended to accelerate drill planning and mobilisation once a pending transaction receives shareholder approval, positioning Galilee to bring a proven gas and condensate field with simple facilities and a short spur line to the Texas Gas Pipeline into production in less than six months from spud, enhancing its growth prospects in the US onshore gas market.
The most recent analyst rating on (AU:GLL) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Galilee Energy Limited stock, see the AU:GLL Stock Forecast page.
More about Galilee Energy Limited
Galilee Energy Limited is an ASX-listed oil and gas company focused on the development of gas and condensate projects, with current expansion efforts centred on the Zydeco Gas Project in the highly prospective Gulf Coast Basin in Louisiana, USA. The company targets low-risk, low-cost production opportunities with access to existing pipeline infrastructure and short timeframes to first production.
Average Trading Volume: 1,192,076
Technical Sentiment Signal: Sell
Current Market Cap: A$8.09M
For a thorough assessment of GLL stock, go to TipRanks’ Stock Analysis page.