BP plc (BP - Free Report) announced the arrival of Argos in the United States. The new floating production unit has reached the Kiewit Offshore Services fabrication yard in Ingleside, TX, from South Korea.
The new semi-submersible floating production unit is among the largest oil production platforms of the British energy giant and hence is the centerpiece of the integrated energy firm’s $9-billion Mad Dog 2 development. Notably, the project is to extract oil from the Mad Dog offshore field, which is the second phase of the field’s development. BP expects the Mad Dog 2 project to come online by the second quarter of 2022.
The company added that at its peak capacity, the facility will be capable of producing 140,000 barrels of oil equivalent per day which the energy major believes will scale up its production in the Gulf of Mexico by roughly 25%. Most importantly, Argos will not only strengthen upstream business in the Gulf of Mexico but will also support job creations. Investors should note that in the Gulf of Mexico, Argos is going to be the fifth operated platform of the company.
Currently, BP carries a Zacks Rank #3 (Hold). Meanwhile, a few better-ranked players in the energy sector include Devon Energy Corporation (DVN - Free Report) , Diamondback Energy, Inc. (FANG - Free Report) and EOG Resources, Inc. (EOG - Free Report) . All the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Devon witnessed upward earnings estimate revisions for 2021.
Diamondback is likely to see earnings growth of 112.5% in 2021.
EOG Resources is expected to see earnings growth of 272.6% in 2021.
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Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
BP plc (BP - Free Report) announced the arrival of Argos in the United States. The new floating production unit has reached the Kiewit Offshore Services fabrication yard in Ingleside, TX, from South Korea.
The new semi-submersible floating production unit is among the largest oil production platforms of the British energy giant and hence is the centerpiece of the integrated energy firm’s $9-billion Mad Dog 2 development. Notably, the project is to extract oil from the Mad Dog offshore field, which is the second phase of the field’s development. BP expects the Mad Dog 2 project to come online by the second quarter of 2022.
The company added that at its peak capacity, the facility will be capable of producing 140,000 barrels of oil equivalent per day which the energy major believes will scale up its production in the Gulf of Mexico by roughly 25%. Most importantly, Argos will not only strengthen upstream business in the Gulf of Mexico but will also support job creations. Investors should note that in the Gulf of Mexico, Argos is going to be the fifth operated platform of the company.
Currently, BP carries a Zacks Rank #3 (Hold). Meanwhile, a few better-ranked players in the energy sector include Devon Energy Corporation (DVN - Free Report) , Diamondback Energy, Inc. (FANG - Free Report) and EOG Resources, Inc. (EOG - Free Report) . All the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Devon witnessed upward earnings estimate revisions for 2021.
Diamondback is likely to see earnings growth of 112.5% in 2021.
EOG Resources is expected to see earnings growth of 272.6% in 2021.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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