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.
Shell (RDS.A) Signs $210M Drilling Contract with Halliburton
Read MoreHide Full Article
Per recent reports published by Reuters, integrated energy major Royal Dutch Shell plc has entered into a $210 million contract with Halliburton Company (HAL). According to this deal, Halliburton will be responsible for drilling 30 wells in Iraq's Majnoon oil field.
Per sources, this arrangement between the two will nearly double Majnoon's output to 400,000 bbl/day in three years from 220,000 bbl/day currently. Manjoon’s operations are managed by Shell and the field is estimated to hold 38 billion barrels of oil in place.
Headquartered in Hague, the Netherlands, Shell is one of the largest integrated oil and gas companies in the world. It explores for and extracts crude oil, natural gas and natural gas liquids. It has interests in chemicals as well as power generation and renewable energy. The company has been present in Gabon for more than 50 years and operates the Rabi Kounga and Gamba fields in the country.
Year to date, the Zacks categorized International Oil and Gas Integratedindustry has registered an impressive growth of 21.6%. However, the Shell stock has outperformed the industry by gaining 24.6%.
The company’s acquisition of BG Group, the third-largest energy player in the U.K., has improved its prospects even more. Shell will be able to boost its oil and gas reserves by almost 25% and will benefit from BG Group’s big projects worldwide. We believe that the recently struck deal to sell some of its Gulf of Mexico assets is an important step in executing on Shell's plan to divest $6–$8 billion of properties this year and maintain its generous dividend policy.
However, the difficult operating environment – continued weakness in commodity prices and depressed refining margins – keeps us on the sidelines.
As a result, Shell currently carries a Zacks Rank #3 (Hold), which implies that the stock will outperform the broader U.S. equity market over the next one to three months.
In the last four quarters, Braskem posted an average positive earnings surprise of 105.5%.
In the last quarter, McDermott posted a positive earnings surprise of 250.00%.
In the last quarter, Suncor posted a positive earnings surprise of 300.00%.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Shell (RDS.A) Signs $210M Drilling Contract with Halliburton
Per recent reports published by Reuters, integrated energy major Royal Dutch Shell plc has entered into a $210 million contract with Halliburton Company (HAL). According to this deal, Halliburton will be responsible for drilling 30 wells in Iraq's Majnoon oil field.
Per sources, this arrangement between the two will nearly double Majnoon's output to 400,000 bbl/day in three years from 220,000 bbl/day currently. Manjoon’s operations are managed by Shell and the field is estimated to hold 38 billion barrels of oil in place.
Headquartered in Hague, the Netherlands, Shell is one of the largest integrated oil and gas companies in the world. It explores for and extracts crude oil, natural gas and natural gas liquids. It has interests in chemicals as well as power generation and renewable energy. The company has been present in Gabon for more than 50 years and operates the Rabi Kounga and Gamba fields in the country.
Year to date, the Zacks categorized International Oil and Gas Integratedindustry has registered an impressive growth of 21.6%. However, the Shell stock has outperformed the industry by gaining 24.6%.
The company’s acquisition of BG Group, the third-largest energy player in the U.K., has improved its prospects even more. Shell will be able to boost its oil and gas reserves by almost 25% and will benefit from BG Group’s big projects worldwide. We believe that the recently struck deal to sell some of its Gulf of Mexico assets is an important step in executing on Shell's plan to divest $6–$8 billion of properties this year and maintain its generous dividend policy.
However, the difficult operating environment – continued weakness in commodity prices and depressed refining margins – keeps us on the sidelines.
Royal Dutch Shell PLC Price
Royal Dutch Shell PLC Price | Royal Dutch Shell PLC Quote
As a result, Shell currently carries a Zacks Rank #3 (Hold), which implies that the stock will outperform the broader U.S. equity market over the next one to three months.
Some better-ranked players from the broader energy sector include Braskem S.A. (BAK - Free Report) ) , McDermott International, Inc. and Suncor Energy Inc. (SU - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the last four quarters, Braskem posted an average positive earnings surprise of 105.5%.
In the last quarter, McDermott posted a positive earnings surprise of 250.00%.
In the last quarter, Suncor posted a positive earnings surprise of 300.00%.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>