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.
Equinor (EQNR) & Partners to Invest $8B in Offshore Brazil
Read MoreHide Full Article
Equinor ASA (EQNR - Free Report) recently announced the $8-billion final investment decision for phase one of the Bacalhau field in offshore Brazil. The development is located in the pre-salt Santos area of the South American country. The Brazilian regulatory authority approved the project in March.
The Bacalhau project is expected to be competitive, with breakeven cost likely to remain below $35 per barrel. As such, the project is expected to generate massive profits. Just from the first phase, estimated recoverable resources are more than 1 billion barrels of light crude oil. The development plan includes 19 subsea wells that will be tied back to a floating production, storage and offloading vessel. The unit is expected to produce 220,000 barrels of oil per day and have a storage capacity of 2 million barrels.
The residual gas from production is expected to be reinjected into the reservoir. To reduce emissions from the project, the company is likely to boost energy efficiency through a Combined Cycle Gas Turbine system. Average carbon dioxide intensity from production is expected to be below 9 kg per barrel, well below the global average of 17 kg. Production from the first phase is expected in 2024. Water depth at the site is around 2050 meters.
Equinor is currently the operator at the field, which was discovered in 2012, with a 40% stake. It has Exxon Mobil Corporation (XOM - Free Report) and PetrogalBrasil as partners with 40% and 20% interest, respectively. Drilling and well service contracts for the project were awarded to major companies like Schlumberger Limited (SLB - Free Report) , Baker Hughes Company (BKR - Free Report) and Halliburton Company.
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 SherazMian 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.
Image: Bigstock
Equinor (EQNR) & Partners to Invest $8B in Offshore Brazil
Equinor ASA (EQNR - Free Report) recently announced the $8-billion final investment decision for phase one of the Bacalhau field in offshore Brazil. The development is located in the pre-salt Santos area of the South American country. The Brazilian regulatory authority approved the project in March.
The Bacalhau project is expected to be competitive, with breakeven cost likely to remain below $35 per barrel. As such, the project is expected to generate massive profits. Just from the first phase, estimated recoverable resources are more than 1 billion barrels of light crude oil. The development plan includes 19 subsea wells that will be tied back to a floating production, storage and offloading vessel. The unit is expected to produce 220,000 barrels of oil per day and have a storage capacity of 2 million barrels.
The residual gas from production is expected to be reinjected into the reservoir. To reduce emissions from the project, the company is likely to boost energy efficiency through a Combined Cycle Gas Turbine system. Average carbon dioxide intensity from production is expected to be below 9 kg per barrel, well below the global average of 17 kg. Production from the first phase is expected in 2024. Water depth at the site is around 2050 meters.
Equinor is currently the operator at the field, which was discovered in 2012, with a 40% stake. It has Exxon Mobil Corporation (XOM - Free Report) and PetrogalBrasil as partners with 40% and 20% interest, respectively. Drilling and well service contracts for the project were awarded to major companies like Schlumberger Limited (SLB - Free Report) , Baker Hughes Company (BKR - Free Report) and Halliburton Company.
Price Performance & Zacks Rank
Shares of the company have gained 49.7%, outperforming the industry’s 20.5% growth in the past year. It currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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 SherazMian 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 >>