Shell's STCBL to be Acquired by Touchstone for $23 Million

Zacks2024-12-30

Shell plc’s SHEL Trinidad affiliate, Shell Trinidad Central Block Ltd. ("STCBL"), is set to be acquired by Canadian oil and gas producer Touchstone Exploration for $23 million in cash from BG Overseas...

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(\"STCBL\"), is set to be acquired by Canadian oil and gas producer Touchstone Exploration for $23 million in cash from BG Overseas...</p>\n\n<a href=\"https://finance.yahoo.com/news/shells-stcbl-acquired-touchstone-23-105200439.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00B7SZLL34.SGD","symbol_name":"Legg Mason ClearBridge - Value A Acc SGD-H","start_time":0,"source_url":"https://finance.yahoo.com/news/shells-stcbl-acquired-touchstone-23-105200439.html","article_id":"2495545381","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2495545381","pubTimestamp":1735555920,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Shell plc’sSHEL Trinidad affiliate, Shell Trinidad Central Block Ltd. , is set to be acquired by Canadian oil and gas producer Touchstone Exploration for $23 million in cash from BG Overseas Holdings. The move aligns with Touchstone’s ongoing natural gas projects and provides it access to world LNG  prices for natural gas. Moreover, it expands the company’s presence in the Herrera fairway.The acquisition of STCBL will give Touchstone a 65% working interest in the Central Block exploration and production license in Trinidad and Tobago. The remaining 35% interest in the central block will be held by Heritage Petroleum Company Ltd.The agreement includes the acquisition of four wells of STCBL located in the Carapal Ridge, Baraka and Baraka East natural gas pools, producing a combination of natural gas and natural gas liquids.Investors interested in the energysector might look at some better-ranked stocks like TechnipFMC plcFTI,KLX Energy Services Holdings, Inc.KLXE and Flotek Industries, I","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","KLXE":"KLX Energy Services Holdings Inc","FTI":"德希尼布FMC","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU0054578231.USD":"BGF SYSTEMATIC SUSTAINABLE GLOBAL SMALLCAP \"A2\" (USD) ACC","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","BK4588":"碎股","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","BK4503":"景林资产持仓","LU0278409577.USD":"MANULIFE GLOBAL FUND-GLOBAL RESOURCES FUND \"AA\" (USD) INC","BK4551":"寇图资本持仓","FTK":"Flotek工业","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","BK4179":"石油天然气设备与服务","SHEL":"SHELL PLC SPON ADS EACH REPR 2 ORD SHS","BK4581":"高盛持仓","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","LU0053671581.USD":"摩根大通美国小盘成长股 A(dist)","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","BK4201":"综合性石油与天然气企业","BK4528":"SaaS概念","BK4106":"数据处理与外包服务","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4554":"元宇宙及AR概念","BK4109":"特种化学制品","LU0300736492.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) INC","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0300736062.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","BK4227":"交易和支付处理服务"},"translate_title":"壳牌STCBL将被Touchstone以2300万美元收购","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SHEL":1,"KLXE":1,"FTK":1,"FTI":0.9},"content_text":"Shell plc’s SHEL Trinidad affiliate, Shell Trinidad Central Block Ltd. (\"STCBL\"), is set to be acquired by Canadian oil and gas producer Touchstone Exploration for $23 million in cash from BG Overseas Holdings. The move aligns with Touchstone’s ongoing natural gas projects and provides it access to world LNG (liquefied natural gas) prices for natural gas. Moreover, it expands the company’s presence in the Herrera fairway.\nAn Insight Into SHEL’s Deal\nThe acquisition of STCBL will give Touchstone a 65% working interest in the Central Block exploration and production license in Trinidad and Tobago. The remaining 35% interest in the central block will be held by Heritage Petroleum Company Ltd.\nThe agreement includes the acquisition of four wells of STCBL located in the Carapal Ridge, Baraka and Baraka East natural gas pools, producing a combination of natural gas and natural gas liquids.\nThe infrastructure to be acquired along with the assets will boost the processing capacity of natural gas in the Herrera fairway and also enable Touchstone to expand its natural gas exports while bolstering its local market supply.\nThe agreement also lays down the acquisition of three key gas marketing contracts held by STCBL. One of the contracts is for domestic sales and the other two are associated with the Atlantic LNG facility. This dual-market strategy ensures that Touchstone can capitalize on local and global gas prices.\nStrengthening Production and Infrastructure\nCurrent production levels of the Central Block include 18 MMcf/d (million cubic feet per day) of natural gas and 200 bbls/d (barrels per day) of natural gas liquids, translating to approximately 3,200 barrels of oil equivalent per day. The block’s assets include an 80 MMcf/d gas processing facility and a network of pipelines. Touchstone plans to optimize the capacities of these facilities, pursue infill drilling and explore further prospects to maximize output. The acquisition will increase the company’s net production by 2,080 boepd (barrels of oil equivalent per day) and improve its cash flow prospects.\nAcquisition Completion and Pending Approvals\nThe acquisition, effective from Jan. 1, 2025, is expected to close by the second quarter of 2025 after the companies secure necessary approvals from the Energy Ministry and other regulatory bodies. Touchstone is also in touch with its banks to raise the required financing for the deal.\nSHEL’s Zacks Rank and Key Picks\nLondon-based Shell is one of the primary oil super-majors — a group of the U.S. and Europe-based big energy multinationals with operations that span almost every corner of the globe. Currently, SHEL has a Zacks Rank #3 (Hold).\nInvestors interested in the energy sector might look at some better-ranked stocks like TechnipFMC plc FTI,KLX Energy Services Holdings, Inc. KLXE and Flotek Industries, Inc. FTK. While TechnipFMC currently sports a Zacks Rank #1 (Strong Buy), KLX Energy and Flotek Industries each carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.\nLondon-based TechnipFMC plc is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. The Zacks Consensus Estimate for FTI’s 2024 earnings indicates 260% year-over-year growth.\nKLX Energy Services Holdings Inc. provides oilfield services focused on the wells’ completion, intervention and production activities. KLXE’s expected EPS (earnings per share) growth rate for next year is 28.52%, which aligns favorably with the industry growth rate of 15.10%.\nFlotek Industries develops and delivers prescriptive chemistry-based technology, including specialty chemicals, to clients in the energy, consumer industrials and food & beverage industries. The Zacks Consensus Estimate for FTK’s 2024 earnings indicates 125% year-over-year growth.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nTechnipFMC plc (FTI) : Free Stock Analysis Report\nFlotek Industries, Inc. (FTK) : Free Stock Analysis Report\nKLX Energy Services Holdings, Inc. (KLXE) : Free Stock Analysis Report\nShell PLC Unsponsored ADR (SHEL) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.0","shortVersion":"4.30.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2495545381"}