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An update from Rex International Holding Ltd. ( (SG:5WH) ) is now available.
Rex International Holding Ltd. announced the spudding of the first of two production wells at the Bestla development in Norway, where its subsidiary Lime Petroleum AS holds a 17% interest. The Bestla Field, with estimated recoverable reserves of 24 million barrels of oil equivalent, is being developed as a subsea tie-back to the Brage Field, with first oil expected in early 2027. The development is noted for its cost-effectiveness, with a breakeven price of around US$40 per barrel, which is crucial amid current geopolitical tensions affecting oil prices.
More about Rex International Holding Ltd.
Rex International Holding Ltd. is a technology-driven oil exploration and production company. The company, along with its subsidiaries, focuses on the exploration and production of oil, leveraging advanced technology to enhance its operations.
Average Trading Volume: 40,448,168
Technical Sentiment Signal: Strong Buy
Current Market Cap: S$254M
Find detailed analytics on 5WH stock on TipRanks’ Stock Analysis page.