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Equinor (EQNR) to Boost Output Capacity at Johan Sverdrup
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Equinor ASA (EQNR - Free Report) along with its partners intends to boost the day-to-day output capacity at the Johan Sverdrup project in the Norwegian part of the North Sea.
Notably, this will be third productivity growth for Equinor in the Johan Sverdrup field, subsequent to the production start-up in October 2019 at an estimated output capacity of 440,000 barrels per day (bpd).
The planning was made as the company-operated Johan Sverdrup field is likely to enhance its production capacity to 535,000 bpd of oil by mid-2021, which is roughly 100,000 bpd more than the initial capacity of the field. However, the increase in capacity will be based on water injection scheduled for the current year.
The Johan Sverdrup field, which is said to be the third-largest oil field on the Norwegian Continental Shelf, is owned by energy five companies. Equinor is the operator with a 42.6% ownership share, while the remaining partners include Lundin Energy Norway with a 20% stake in the field, Petoro with 17.36%, Aker BP ASA with 11.57% and TOTAL SE holding the rest.
Johan Sverdrup oil field is powered from shore that makes it one of the most carbon-efficient fields globally, with minimal greenhouse gas emissions per barrel. Importantly, the capacity increase is attainable due to the field’s sound and stable productivity as well as the high yielding production of the wells.
Company Profile & Price Performance
Headquartered in Stavanger, Norway, Equinor is one of the leading integrated energy companies in the world.
Shares of the company have outperformed the industry in the past three months. It has gained 37% compared with the industry’s 29.3% growth.
Devon’s 2021 earnings are expected to increase 2,003.4% year over year.
Denbury’s 2021 earnings are expected to rise 125.5% year over year.
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.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
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Equinor (EQNR) to Boost Output Capacity at Johan Sverdrup
Equinor ASA (EQNR - Free Report) along with its partners intends to boost the day-to-day output capacity at the Johan Sverdrup project in the Norwegian part of the North Sea.
Notably, this will be third productivity growth for Equinor in the Johan Sverdrup field, subsequent to the production start-up in October 2019 at an estimated output capacity of 440,000 barrels per day (bpd).
The planning was made as the company-operated Johan Sverdrup field is likely to enhance its production capacity to 535,000 bpd of oil by mid-2021, which is roughly 100,000 bpd more than the initial capacity of the field. However, the increase in capacity will be based on water injection scheduled for the current year.
The Johan Sverdrup field, which is said to be the third-largest oil field on the Norwegian Continental Shelf, is owned by energy five companies. Equinor is the operator with a 42.6% ownership share, while the remaining partners include Lundin Energy Norway with a 20% stake in the field, Petoro with 17.36%, Aker BP ASA with 11.57% and TOTAL SE holding the rest.
Johan Sverdrup oil field is powered from shore that makes it one of the most carbon-efficient fields globally, with minimal greenhouse gas emissions per barrel. Importantly, the capacity increase is attainable due to the field’s sound and stable productivity as well as the high yielding production of the wells.
Company Profile & Price Performance
Headquartered in Stavanger, Norway, Equinor is one of the leading integrated energy companies in the world.
Shares of the company have outperformed the industry in the past three months. It has gained 37% compared with the industry’s 29.3% growth.
Zacks Rank & Stocks to Consider
Equinor currently has a Zack Rank #3 (Hold).
Some better-ranked players in the energy space are Devon Energy Corp. (DVN - Free Report) and Denbury Inc. , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Devon’s 2021 earnings are expected to increase 2,003.4% year over year.
Denbury’s 2021 earnings are expected to rise 125.5% year over year.
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.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>