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Hibiscus Petroleum is making waves by acquiring TotalEnergies EP (Brunei) for a whopping USD259.4 million! This deal is expected to more than double their gas reserves and increase their overall production by 37%. Talk about a growth spurt! Analysts are buzzing about the positive impact on earnings too, with a potential uplift of 12-16% on average. It's like Hibiscus is supercharging its operations and aiming for the stars in the oil and gas industry!

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Borneo Bulletin Article

Published on 18th June 2024

Hibiscus Petroleum Bhd is acquiring TotalEnergies EP (Brunei) BV for USD259.4 million, a move lauded by analysts as positive for the company's growth. The acquisition will significantly increase Hibiscus' gas reserves, overall production, and earnings. While Public Investment Bank and Hong Leong Investment Bank maintai...

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