In today’s briefing:
- Preview Rex International: 1H22 Results
Preview Rex International: 1H22 Results
- Rex will soon close a disappointing 1H22 as equipment upgrades and maintenance hamper production in Oman. Recently production was halted again due to a small oil leak in its flowline.
- Norway’s production has been declining in 1H. Rebound hopefully in 2H. New bond financing was announced for more Norwegian M&A. Malaysian assets to get the green light in 2H22.
- Rex remains very cheap but needs to deliver on operational milestones to unlock value. YTD share price performance has lagged sector peers substantially.
Before it’s here, it’s on Smartkarma
