![pikka road pikka road](http://www.street.ee/wp-content/uploads/2020/02/inbound2757890223714330265-1024x678.jpg)
![pikka road pikka road](https://i.pinimg.com/originals/65/b2/1c/65b21cb8cb8c0f7bbbc3a51c6962c1d2.jpg)
Investors interested in the energy sector might look at the following companies that presently sport a Zacks Rank #1 (Strong Buy). Image Source: Zacks Investment Research Zacks Rank & Other Stocks to ConsiderĬonocoPhillips currently carries a Zack Rank #2 (Buy). Headquartered in Houston, TX, ConocoPhillips is a leading upstream energy company. Notably, ConocoPhillips has the right to appeal the issue of the land permit by Apr 18. The Department of Natural Resources recently approved the land use permit to facilitate the Pikka project development until the companies negotiate an agreement.
#Pikka road free
The company required free access to proceed with the project, added ConocoPhillips. Per ConocoPhillips, Oil Search was stressing that the commercial costs of using KRU road were hindering the Pikka Unit project from a final investment decision.
![pikka road pikka road](http://www.street.ee/wp-content/uploads/2020/02/DSC0080-1-1024x576.jpg)
After that, Oil Search requested the Department of Natural Resources for access permits on the roads, which are on state land. However, Oil Search rejected ConocoPhillips’ proposal to pay for using the latter’s roads. ConocoPhillips is considered a potential buyer of that stake.ĬonocoPhillips proposed a $95-million one-time payment for longer use of its Kuparuk roads. The latest dispute could delay Santos’ divestment of its majority stake in the project, hampering its plan to raise $2-$3 billion from asset divestments this year. In February, Santos offered its 51% stake in the Pikka project for sale.