The latest update is out from New Stratus Energy ( (TSE:NSE) ).
New Stratus Energy Inc. has announced a transformative production sharing contract for the Sacha Block in Ecuador, in partnership with Sinopec. The agreement includes a 20-year renewable contract for crude oil production and exploration, with New Stratus acquiring a 40% interest. This strategic move is expected to enhance the company’s operations significantly, with an average production of 77,191 barrels per day in 2024 and substantial revenue implications, positioning New Stratus as a key player in the Ecuadorian oil market.
More about New Stratus Energy
New Stratus Energy Inc. is a company involved in the energy sector, focusing on oil production and exploration. It operates primarily in collaboration with international partners, such as Sinopec, to develop significant oil fields, with a current market focus on the Sacha Block in Ecuador.
YTD Price Performance: 42.14%
Average Trading Volume: 79,479
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $53.7M
For detailed information about NSE stock, go to TipRanks’ Stock Analysis page.