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TechnipFMC (FTI) Inks Large Subsea Contract for Yellowtail
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TechnipFMC (FTI - Free Report) announced the receipt of a large award from an affiliate of Exxon Mobil Corporation (XOM - Free Report) . According to TechnipFMC, a contract is considered to be large if the value lies in the band of $500 million and $1 billion.
Per the award, TechnipFMC will get involved in supplying a subsea production system to develop ExxonMobil’s Yellowtail. In the prolific Stabroek Block, located offshore Guyana, Yellowtail is the 13th oil discovery of ExxonMobil. The discovery was announced by ExxonMobil in April 2019.
In a new reservoir, the Yellowtail- 1 well was drilled, from which ExxonMobil unveiled approximately 292 feet of high-quality oil-bearing sandstone reservoir.
TechnipFMC has decided to provide engineering, project management, testing capabilities and manufacturing to deliver the overall subsea production system. FTI announced that the project’s scope comprises 12 manifolds and associated controls and tie-in equipment along with 51 enhanced vertical deepwater trees and related tooling.
In the Stabroek Block, this is the fourth award for TechnipFMC. The award has also strengthened FTI’s relationship with XOM. Overall, the award is likely to have secured additional cashflows for TechnipFMC.
Currently, TechnipFMC carries a Zacks Rank #4 (Sell), while ExxonMobil has a Zacks Rank #2 (Buy). Meanwhile, a few top-ranked players in the energy sector include Whiting Petroleum Corporation and Callon Petroleum Company . Both the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Whiting Petroleum is a leading upstream energy company and is the top producer of crude oil in North Dakota. With oil price improving at a healthy pace, Whiting Petroleum expects to continue generating handsome cashflows while maintaining a healthy balance sheet.
Headquartered in Denver, CO, Whiting Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days. Looking at the price chart, WLL has gained 179.4% year to date, surpassing the 112.6% improvement of the composite stocks belonging to the industry.
Callon Petroleum is also a leading exploration and production company with a strong presence in prolific unconventional resources that comprise Permian Basin and Eagle Ford Shale play.
Callon Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days. Looking at the price chart, Callon Petroleum has gained 384.2% year to date, outpacing the 112.6% improvement of the composite stocks belonging to the industry.
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TechnipFMC (FTI) Inks Large Subsea Contract for Yellowtail
TechnipFMC (FTI - Free Report) announced the receipt of a large award from an affiliate of Exxon Mobil Corporation (XOM - Free Report) . According to TechnipFMC, a contract is considered to be large if the value lies in the band of $500 million and $1 billion.
Per the award, TechnipFMC will get involved in supplying a subsea production system to develop ExxonMobil’s Yellowtail. In the prolific Stabroek Block, located offshore Guyana, Yellowtail is the 13th oil discovery of ExxonMobil. The discovery was announced by ExxonMobil in April 2019.
In a new reservoir, the Yellowtail- 1 well was drilled, from which ExxonMobil unveiled approximately 292 feet of high-quality oil-bearing sandstone reservoir.
TechnipFMC has decided to provide engineering, project management, testing capabilities and manufacturing to deliver the overall subsea production system. FTI announced that the project’s scope comprises 12 manifolds and associated controls and tie-in equipment along with 51 enhanced vertical deepwater trees and related tooling.
In the Stabroek Block, this is the fourth award for TechnipFMC. The award has also strengthened FTI’s relationship with XOM. Overall, the award is likely to have secured additional cashflows for TechnipFMC.
TechnipFMC plc Price
TechnipFMC plc price | TechnipFMC plc Quote
Currently, TechnipFMC carries a Zacks Rank #4 (Sell), while ExxonMobil has a Zacks Rank #2 (Buy). Meanwhile, a few top-ranked players in the energy sector include Whiting Petroleum Corporation and Callon Petroleum Company . Both the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Whiting Petroleum is a leading upstream energy company and is the top producer of crude oil in North Dakota. With oil price improving at a healthy pace, Whiting Petroleum expects to continue generating handsome cashflows while maintaining a healthy balance sheet.
Headquartered in Denver, CO, Whiting Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days. Looking at the price chart, WLL has gained 179.4% year to date, surpassing the 112.6% improvement of the composite stocks belonging to the industry.
Callon Petroleum is also a leading exploration and production company with a strong presence in prolific unconventional resources that comprise Permian Basin and Eagle Ford Shale play.
Callon Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days. Looking at the price chart, Callon Petroleum has gained 384.2% year to date, outpacing the 112.6% improvement of the composite stocks belonging to the industry.