FWIW...Stock analysts at Cowen and Company lifted their price objective on shares of Chicago Bridge & Iron Company (NYSE:CBI) from $57.00 to $63.00 in a report issued on Friday. The firm currently has an “outperform” rating on the stock.
Suspect that number has decreased over the past 2 weeks.
Filing is out...Chicago Bridge & Iron Co. (NYSE: CBI) was the same stake at 10.701 million shares, after having been raised in 2014 and in 2013.
Anadarko Petroleum Corp. is poised to select a construction team led by Chicago Bridge & Iron Co. as its main contractor for a potential $15 billion Mozambique liquefied natural gas project, according to people familiar with the matter.
CB&I and its engineering and construction partners will work with the Woodlands, Texas-based explorer to begin project planning with the East African nation’s government, according to the people who asked not to be identified because the information isn’t yet public. Anadarko has said it will make a final investment decision on whether to proceed with the project by the end of the year.
The selection of CB&I’s group to build the export project is a key step in the process of developing one of the biggest oil and gas discoveries in a generation, one that has the potential to reshape East Africa and global markets.
The decision is a milestone for one of the few energy mega-projects around the world to move forward after crude prices collapsed last year. Companies have halted spending on many such projects to conserve cash, reducing spending by more than $100 billion amid the worst oil market downturn in a generation.
CB&I and Anadarko declined to comment on the contract.
As much as 75 trillion cubic feet of natural gas may lie in the Area 1 prospect off Mozambique’s shores, according to Anadarko and its partners developing the discovery. That’s enough to meet about 15 years of U.S. residential demand, according to the U.S. Energy Information Administration.