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An update from Rex International Holding Ltd. ( (SG:5WH) ) is now available.
Rex International Holding’s indirect subsidiary Akrake Petroleum Benin S.A. has successfully completed drilling the AK-2H production well in the Sèmè Field offshore Benin, achieving 1,405 metres of horizontal drilling through the Abeokuta Formation, of which about 950 metres comprise high-quality, oil-saturated sandstone with no water-bearing sand encountered. The well has been equipped with sand-control screens and autonomous inflow control valves to minimise water production and maximise oil output, alongside installation of an electrical submersible pump, while hook-up work on the mobile offshore production unit and floating storage and offloading unit continues, marking a key step towards bringing the field into production and enhancing the Group’s future production capacity in the region.
The most recent analyst rating on (SG:5WH) stock is a Hold with a S$0.15 price target. To see the full list of analyst forecasts on Rex International Holding Ltd. stock, see the SG:5WH Stock Forecast page.
More about Rex International Holding Ltd.
Rex International Holding Ltd is an oil and gas exploration and production company, operating through subsidiaries such as Akrake Petroleum Benin S.A., with upstream activities focused on offshore fields including the Sèmè Field in Benin.
Average Trading Volume: 12,185,941
Technical Sentiment Signal: Buy
Current Market Cap: S$201.9M
For detailed information about 5WH stock, go to TipRanks’ Stock Analysis page.