We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Equinor (EQNR) Extends North Sea Contract With Archer for 24 Months
Read MoreHide Full Article
Equinor ASA (EQNR - Free Report) , a Norwegian energy giant, has extended its contract with Archer, a renowned oil services company, for an additional two years. This extension, which begins this month, is valued at approximately $60 million and will see Archer continue to provide critical plug and abandonment (P&A), fishing, and downhole mechanical isolation equipment services in the North Sea.
Nicholas Pantin, executive vice president of Archer Well Services, expressed satisfaction with the contract extension, emphasizing the importance of P&A services to Archer's strategy. He highlighted the company’s commitment to delivering cost-effective, efficient and innovative P&A solutions for Equinor in the North Sea.
This extension is part of a broader relationship between Archer and Equinor. Earlier in March, the two companies signed a four-year contract extension for drilling services. This agreement allows Archer to provide platform drilling services to nine out of Equinor’s 19 installations on the Norwegian Continental Shelf, highlighting the strong and ongoing partnership between the two firms.
The extension of Archer's contract with Equinor signifies a continued commitment to operational excellence and innovation in the North Sea. As both companies forge ahead with their respective projects and collaborations, their efforts contribute significantly to the evolving landscape of the global energy industry. With a focus on efficiency, sustainability and cutting-edge technology, Archer and Equinor are well-positioned to address future challenges and opportunities.
Archrock is an energy infrastructure company based in the United States, focusing on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.
The Zacks Consensus Estimate for AROC’s 2024 EPS is pegged at $1.07. The company has a Zacks Style Score of A for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.
SM Energy is set to expand its oil-centered operations in the coming years, with an increasing focus on crude oil, especially in the Permian Basin and Eagle Ford regions. The company’s attractive oil and gas investments should create long-term shareholder value.
The Zacks Consensus Estimate for SM’s 2024 EPS is pegged at $6.69. The company has a Zacks Style Score of B for Value. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past seven days.
Sunoco is a leading wholesale motor fuel distributor in the United States, boasting a vast distribution network spanning 40 states. With long-term contracts servicing more than 10,000 convenience stores, it distributes over 10 fuel brands, ensuring a stable revenue stream. SUN currently has a Value Score of A.
The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $7.29 and $7.17, respectively. The partnership has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
Image: Bigstock
Equinor (EQNR) Extends North Sea Contract With Archer for 24 Months
Equinor ASA (EQNR - Free Report) , a Norwegian energy giant, has extended its contract with Archer, a renowned oil services company, for an additional two years. This extension, which begins this month, is valued at approximately $60 million and will see Archer continue to provide critical plug and abandonment (P&A), fishing, and downhole mechanical isolation equipment services in the North Sea.
Nicholas Pantin, executive vice president of Archer Well Services, expressed satisfaction with the contract extension, emphasizing the importance of P&A services to Archer's strategy. He highlighted the company’s commitment to delivering cost-effective, efficient and innovative P&A solutions for Equinor in the North Sea.
This extension is part of a broader relationship between Archer and Equinor. Earlier in March, the two companies signed a four-year contract extension for drilling services. This agreement allows Archer to provide platform drilling services to nine out of Equinor’s 19 installations on the Norwegian Continental Shelf, highlighting the strong and ongoing partnership between the two firms.
The extension of Archer's contract with Equinor signifies a continued commitment to operational excellence and innovation in the North Sea. As both companies forge ahead with their respective projects and collaborations, their efforts contribute significantly to the evolving landscape of the global energy industry. With a focus on efficiency, sustainability and cutting-edge technology, Archer and Equinor are well-positioned to address future challenges and opportunities.
Zacks Rank & Key Picks
Equinor currently carries a Zacks Rank #3 (Hold).
Investors interested in the energy sector may look at some better-ranked stocks like Archrock Inc. (AROC - Free Report) , SM Energy Company (SM - Free Report) and Sunoco LP (SUN - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Archrock is an energy infrastructure company based in the United States, focusing on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.
The Zacks Consensus Estimate for AROC’s 2024 EPS is pegged at $1.07. The company has a Zacks Style Score of A for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.
SM Energy is set to expand its oil-centered operations in the coming years, with an increasing focus on crude oil, especially in the Permian Basin and Eagle Ford regions. The company’s attractive oil and gas investments should create long-term shareholder value.
The Zacks Consensus Estimate for SM’s 2024 EPS is pegged at $6.69. The company has a Zacks Style Score of B for Value. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past seven days.
Sunoco is a leading wholesale motor fuel distributor in the United States, boasting a vast distribution network spanning 40 states. With long-term contracts servicing more than 10,000 convenience stores, it distributes over 10 fuel brands, ensuring a stable revenue stream. SUN currently has a Value Score of A.
The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $7.29 and $7.17, respectively. The partnership has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.