Eni S.p.A. E expanded its exploration portfolio by signing a Petroleum Exploration Development and Production License Agreement with the Government of The Gambia for the offshore Block A1. The block is located in the Atlantic margin, an area with proven hydrocarbon discoveries. It spans roughly 1,300 square kilometers in water depths ranging from 1,250 to 3,300 meters. The agreement enables Eni to gain access to a highly prospective offshore basin with significant resource potential.
The agreement aligns with E’s strategy of building a geographically diversified exploration portfolio by targeting both established and underexplored regions. By entering The Gambia, Eni strengthens its presence in West Africa and gains access to a frontier exploration opportunity that could complement its existing portfolio of exploration assets across the continent.
This agreement strengthens E’s long-term growth prospects by expanding its exploration portfolio, supporting the future production outlook and enhancing cash-flow potential and investor appeal.
Eni currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the energy sector with a presence in upstream operations are Vista Energy, S.A.B. de C.V. VIST, Chevron Corporation CVX and YPF Sociedad Anónima YPF.
With West Texas Intermediate (“WTI”) crude prices trading above the $90-per-barrel mark, according to oilprice.com, VIST, CVX, YPF and E are benefiting from the positive pricing environment. VIST and CVX currently has a Zacks Rank #2 (Buy) while YPF sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Vista is an independent oil and gas producer focused on Argentina's prolific Vaca Muerta basin, where it has a footprint of roughly 257,000 net acres. VIST achieved total production of 134,741 barrels of oil equivalent per day (Boe/d) in first-quarter 2026, representing a 67% increase from the prior-year period. Driven by this strong performance, Vista increased its full-year 2026 production target to 143,000 Boe/d from 140,000 Boe/d.
Chevron is a leading integrated energy giant with a strong presence in the Permian Basin. Supported by strong upstream performance and continued growth across its resource base, CVX achieved first-quarter 2026 international net oil-equivalent production of 1.8 million barrels of oil equivalent per day, up from the prior-year period.
YPF is driving production growth by maximizing its core assets in Argentina’s Vaca Muerta. YPF plans to scale up operational activities in the coming quarters to increase oil and gas output in the second half of 2026.
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Chevron Corporation (CVX): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).