Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Rockhopper Exploration ( (GB:RKH) ) has issued an update.
Rockhopper Exploration has taken a final investment decision on the development of Phase 1 of the Sea Lion field, located offshore north of the Falkland Islands, in partnership with Navitas Petroleum. This decision marks a significant milestone for the company, as all necessary approvals and consents have been received, and financing arrangements have been approved. The project requires a total funding of $2.1 billion, with Rockhopper’s net equity requirement being approximately $112 million. The Sea Lion project is expected to bring substantial value to shareholders, with first oil anticipated in 2028. However, there remains some uncertainty around project costs and early project failure support requirements, which could lead to additional equity needs. The company is exploring various options to cover these potential costs and remains confident in meeting the conditions for financial close.
The most recent analyst rating on (GB:RKH) stock is a Buy with a £0.90 price target. To see the full list of analyst forecasts on Rockhopper Exploration stock, see the GB:RKH Stock Forecast page.
More about Rockhopper Exploration
Rockhopper Exploration plc is an oil and gas company with significant interests in the North Falkland Basin. The company focuses on the exploration and development of hydrocarbon resources, with a primary market focus on offshore oil fields.
Average Trading Volume: 2,700,501
Technical Sentiment Signal: Buy
Current Market Cap: £557M
See more data about RKH stock on TipRanks’ Stock Analysis page.