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.
Baker Hughes (BKR) Expands Partnership With Service Agreement
Read MoreHide Full Article
Baker Hughes Company (BKR - Free Report) has solidified its long-standing relationship with Woodside Energy by signing a 10-year service frame agreement to enhance the operational capabilities of Woodside Energy’s liquefied natural gas (LNG) operations in Australia.
Per the deal, Baker Hughes will provide critical spare parts, field service resources for onsite turbomachinery equipment maintenance and upgrades, equipment refurbishment and advanced digital asset performance services.
The latest collaboration between Baker Hughes and Woodside Energy underscores a partnership that began in 1989, characterized by numerous successful projects and a shared commitment to advancing the LNG sector. In 2021, Baker Hughes was entrusted with supplying high-efficiency gas turbine and compressor technology for Woodside Energy’s Pluto LNG Train 2 project in Western Australia, a key component of the Scarborough offshore gas project that supports LNG exports across Asia.
Beyond operational enhancements, the partnership has also ventured into decarbonization initiatives. In 2022, Baker Hughes and Woodside Energy signed a memorandum of understanding to explore potential solutions for reducing carbon emissions, thereby leveraging Baker Hughes' comprehensive portfolio of carbon management and climate technology solutions.
As LNG plays a crucial role in ensuring global energy security by providing affordable and reliable natural gas supplies, Baker Hughes remains committed to continuous innovation and improvements in LNG technology solutions. This includes advancing safety, efficiency and asset health management to drive more intelligent and sustainable operations.
The latest agreement marks a significant milestone in the enduring collaboration between Baker Hughes and Woodside Energy. It will not only boost Woodside Energy’s operational efficiency but also contribute to the broader goal of securing a stable and sustainable energy supply on a global scale. Through technological innovation and a steadfast commitment to sustainable practices, the partnership will continue to advance the LNG sector, thus reinforcing its importance in the global energy landscape.
Zacks Rank & Key Picks
Currently, Baker Hughes carries a Zacks Rank #3 (Hold).
Coterra Energy is an independent upstream operator that explores, develops and produces natural gas, crude oil and natural gas liquids. The company also has an active share repurchase program, with $1.4 billion existing under authorization.
The Zacks Consensus Estimate for CTRA’s 2024 and 2025 earnings per unit is pegged at $1.99 and $2.92, respectively. The company has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 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 more than 10 fuel brands, ensuring a stable revenue stream.
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. SUN currently has a Value and Growth Score of A.
GeoPark, based in Hamilton, Bermuda, is an explorer, operator and consolidator in the oil and gas sector. The company primarily operates in Chile, Colombia, Brazil and Argentina. It has a Zacks Style Score of A for Value and B for Growth.
The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $3.23 and $3.98, respectively. The company has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Baker Hughes (BKR) Expands Partnership With Service Agreement
Baker Hughes Company (BKR - Free Report) has solidified its long-standing relationship with Woodside Energy by signing a 10-year service frame agreement to enhance the operational capabilities of Woodside Energy’s liquefied natural gas (LNG) operations in Australia.
Per the deal, Baker Hughes will provide critical spare parts, field service resources for onsite turbomachinery equipment maintenance and upgrades, equipment refurbishment and advanced digital asset performance services.
The latest collaboration between Baker Hughes and Woodside Energy underscores a partnership that began in 1989, characterized by numerous successful projects and a shared commitment to advancing the LNG sector. In 2021, Baker Hughes was entrusted with supplying high-efficiency gas turbine and compressor technology for Woodside Energy’s Pluto LNG Train 2 project in Western Australia, a key component of the Scarborough offshore gas project that supports LNG exports across Asia.
Beyond operational enhancements, the partnership has also ventured into decarbonization initiatives. In 2022, Baker Hughes and Woodside Energy signed a memorandum of understanding to explore potential solutions for reducing carbon emissions, thereby leveraging Baker Hughes' comprehensive portfolio of carbon management and climate technology solutions.
As LNG plays a crucial role in ensuring global energy security by providing affordable and reliable natural gas supplies, Baker Hughes remains committed to continuous innovation and improvements in LNG technology solutions. This includes advancing safety, efficiency and asset health management to drive more intelligent and sustainable operations.
The latest agreement marks a significant milestone in the enduring collaboration between Baker Hughes and Woodside Energy. It will not only boost Woodside Energy’s operational efficiency but also contribute to the broader goal of securing a stable and sustainable energy supply on a global scale. Through technological innovation and a steadfast commitment to sustainable practices, the partnership will continue to advance the LNG sector, thus reinforcing its importance in the global energy landscape.
Zacks Rank & Key Picks
Currently, Baker Hughes carries a Zacks Rank #3 (Hold).
Investors interested in the energy sector may look at some better-ranked stocks like Coterra Energy Inc. (CTRA - Free Report) , Sunoco LP (SUN - Free Report) and GeoPark Ltd. (GPRK - 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.
Coterra Energy is an independent upstream operator that explores, develops and produces natural gas, crude oil and natural gas liquids. The company also has an active share repurchase program, with $1.4 billion existing under authorization.
The Zacks Consensus Estimate for CTRA’s 2024 and 2025 earnings per unit is pegged at $1.99 and $2.92, respectively. The company has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 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 more than 10 fuel brands, ensuring a stable revenue stream.
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. SUN currently has a Value and Growth Score of A.
GeoPark, based in Hamilton, Bermuda, is an explorer, operator and consolidator in the oil and gas sector. The company primarily operates in Chile, Colombia, Brazil and Argentina. It has a Zacks Style Score of A for Value and B for Growth.
The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $3.23 and $3.98, respectively. The company has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.