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TotalEnergies (TTE) Eyes March Restart for Denmark's Tyra Field
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TotalEnergies SE (TTE - Free Report) , the French oil and gas major, confirmed the reopening of Denmark's largest gas field, Tyra, in March this year, following a temporary closure for redevelopment in 2019. The company disclosed this information in a statement released on Monday, assuring that the project remains on track for a Mar 31 startup.
Tyra, located in the North Sea, was shut down for a comprehensive redevelopment that involved the removal and recycling of old installations and the installation of new ones, including platforms with longer legs. The redevelopment project aimed to address challenges caused by the seabed sinking several meters beneath Tyra's platforms during more than three decades of production.
According to TotalEnergies, the redeveloped field, now referred to as Tyra II, is expected to produce 2.8 billion cubic meters (bcm) of natural gas annually. Tyra II will play a crucial role in processing and exporting gas from the Danish sector of the North Sea. TotalEnergies operates Tyra II on behalf of the Danish Underground Consortium, holding a 43.2% stake in the project.
The company indicated that the restart could potentially occur earlier in March, depending on the project's progress. TotalEnergies anticipates a four-month ramp-up to reach full technical capacity once production resumes.
Before its closure, Tyra served as a processing and export hub for more than 90% of the gas produced in the Danish sector of the North Sea. The reopening of Tyra II is expected to enhance Denmark's energy infrastructure and contribute significantly to the country's gas production capabilities.
Zacks Rank & Key Picks
TotalEnergies currently has a Zack Rank #3 (Hold).
Sunoco is among the biggest motor fuel distributors in the U.S. wholesale market in terms of volumes. By distributing more than 10 fuel brands via 10,000 convenience stores under long-term distribution contracts, the partnership will continue to generate stable cash flow.
SUN’s earnings beat estimates in two of the trailing four quarters and missed twice, delivering an average surprise of 28.33%.
Oceaneering International is a leading provider of integrated technology solutions, active at all phases of the offshore oilfield lifecycle. Its strong relationship with high-quality customers provides revenue visibility and business certainty. OII is well-positioned to supply equipment for deep-water projects.
Vaalco Energy is an independent energy company involved in upstream operation business with a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Canadian Acreage, the company’s production outlook seems bright.
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TotalEnergies (TTE) Eyes March Restart for Denmark's Tyra Field
TotalEnergies SE (TTE - Free Report) , the French oil and gas major, confirmed the reopening of Denmark's largest gas field, Tyra, in March this year, following a temporary closure for redevelopment in 2019. The company disclosed this information in a statement released on Monday, assuring that the project remains on track for a Mar 31 startup.
Tyra, located in the North Sea, was shut down for a comprehensive redevelopment that involved the removal and recycling of old installations and the installation of new ones, including platforms with longer legs. The redevelopment project aimed to address challenges caused by the seabed sinking several meters beneath Tyra's platforms during more than three decades of production.
According to TotalEnergies, the redeveloped field, now referred to as Tyra II, is expected to produce 2.8 billion cubic meters (bcm) of natural gas annually. Tyra II will play a crucial role in processing and exporting gas from the Danish sector of the North Sea. TotalEnergies operates Tyra II on behalf of the Danish Underground Consortium, holding a 43.2% stake in the project.
The company indicated that the restart could potentially occur earlier in March, depending on the project's progress. TotalEnergies anticipates a four-month ramp-up to reach full technical capacity once production resumes.
Before its closure, Tyra served as a processing and export hub for more than 90% of the gas produced in the Danish sector of the North Sea. The reopening of Tyra II is expected to enhance Denmark's energy infrastructure and contribute significantly to the country's gas production capabilities.
Zacks Rank & Key Picks
TotalEnergies currently has a Zack Rank #3 (Hold).
Some better-ranked stocks in the energy sector are Sunoco LP (SUN - Free Report) , Oceaneering International, Inc. (OII - Free Report) and Vaalco Energy, Inc. (EGY - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Sunoco is among the biggest motor fuel distributors in the U.S. wholesale market in terms of volumes. By distributing more than 10 fuel brands via 10,000 convenience stores under long-term distribution contracts, the partnership will continue to generate stable cash flow.
SUN’s earnings beat estimates in two of the trailing four quarters and missed twice, delivering an average surprise of 28.33%.
Oceaneering International is a leading provider of integrated technology solutions, active at all phases of the offshore oilfield lifecycle. Its strong relationship with high-quality customers provides revenue visibility and business certainty. OII is well-positioned to supply equipment for deep-water projects.
Vaalco Energy is an independent energy company involved in upstream operation business with a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Canadian Acreage, the company’s production outlook seems bright.