Equinor ASA’s (EQNR - Free Report) has received approval from the Ministry of Petroleum and Energy fo rplan for development and operation (PDO) for Troll Phase 3 development.
An estimated amount of NOK 7.8 billion will be used to extend the productive life of the Troll field beyond 2050.The field is vital for the Norwegian society as it has generated about NOK 1400 billion or NOK 175 million per day since its commission in 1995. The field is also the largest gas producer on the Norwegian Continental shelf that accounts for 7-8% of Europe’s total daily gas consumption. Also, the field is important for the Norwegian supply industry since almost 70% of the value creation will take place in Norway.
Troll Phase 3 is considered as one of Equinor’s most profitable and flexible projects with a breakeven of less than $10 per barrel. The Troll Phase 3 development is expected to deliver 2.2 billion barrels of oil equivalent from the field with a CO2 intensity of 0.1 kilo per barrel. The field is expected to come online in the first half of 2021.
Contracts worth about NOK 950 million have been awarded by the partnership to companies like Nexans, Deep Ocean, IKM, Allseas and Marubeni. The contracts relate to marine installations and subsea facilities. Additionally, Troll partners have awarded contracts valued at about NOK 2 billion for subsea facilities and the construction of a new processing module on the Troll A platform to Aker Solutions.
Equinor holds 30.6% as the operator of Troll. The other partners are Petoro, Norske Shell, Total SA and ConocoPhillips (COP - Free Report) holding 56%, 8.1%, 3.7% and 1.6%, respectively.
Zacks Rank & Key Picks
Currently, Equinor carries a Zacks Rank #3 (Hold).
Another better-ranked player in the same sector is Cabot Oil & Gas Corporation , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Houston, TX-based Cabot is an independent oil and gas exploration company with producing properties mainly in the continental U.S. The company delivered an average negative earnings surprise of 5.7% in the last four quarters.
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Equinor ASA’s (EQNR - Free Report) has received approval from the Ministry of Petroleum and Energy fo rplan for development and operation (PDO) for Troll Phase 3 development.
An estimated amount of NOK 7.8 billion will be used to extend the productive life of the Troll field beyond 2050.The field is vital for the Norwegian society as it has generated about NOK 1400 billion or NOK 175 million per day since its commission in 1995. The field is also the largest gas producer on the Norwegian Continental shelf that accounts for 7-8% of Europe’s total daily gas consumption. Also, the field is important for the Norwegian supply industry since almost 70% of the value creation will take place in Norway.
Troll Phase 3 is considered as one of Equinor’s most profitable and flexible projects with a breakeven of less than $10 per barrel. The Troll Phase 3 development is expected to deliver 2.2 billion barrels of oil equivalent from the field with a CO2 intensity of 0.1 kilo per barrel. The field is expected to come online in the first half of 2021.
Contracts worth about NOK 950 million have been awarded by the partnership to companies like Nexans, Deep Ocean, IKM, Allseas and Marubeni. The contracts relate to marine installations and subsea facilities. Additionally, Troll partners have awarded contracts valued at about NOK 2 billion for subsea facilities and the construction of a new processing module on the Troll A platform to Aker Solutions.
Equinor holds 30.6% as the operator of Troll. The other partners are Petoro, Norske Shell, Total SA and ConocoPhillips (COP - Free Report) holding 56%, 8.1%, 3.7% and 1.6%, respectively.
Zacks Rank & Key Picks
Currently, Equinor carries a Zacks Rank #3 (Hold).
Another better-ranked player in the same sector is Cabot Oil & Gas Corporation , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Houston, TX-based Cabot is an independent oil and gas exploration company with producing properties mainly in the continental U.S. The company delivered an average negative earnings surprise of 5.7% in the last four quarters.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
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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