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Schlumberger (SLB) Clinches Contract for Tilenga Oil Project
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Schlumberger Limited (SLB - Free Report) recently announced the receipt of an award from TotalEnergies SE (TTE - Free Report) for drilling, completions and production services for the leading integrated energy player’s Tilenga onshore oil development in Uganda.
The oilfield service giant said that the contract entails the provision of upper completions, lower completions, directional drilling services, artificial lift solutions and wellheads for the Tilenga project. Schlumberger added that the onshore oil development comprises six fields comprising up to 426 wells. Schlumberger expects the commencement of drilling activities in the fourth quarter of 2022.
For the acceleration of economic growth in Uganda, the Tilenga project is of utmost importance, added Schlumberger. Thus, with the contract, Schlumberger is supporting TotalEnergies with environmental, social, and governance (ESG) initiatives and creating values within the country.
Thus, with the contract, Schlumberger has secured handsome cashflows. TotalEnergies will also probably generate lucrative cashflows from the development of six fields, with a bright production outlook. In the project, TotalEnergies is the operator with a 56.6% interest.
Currently, Schlumberger carries a Zacks Rank #2 (Buy), while TotalEnergies carries a Zacks Rank #3 (Hold). Two prospective stocks belonging to the energy space are Exxon Mobil Corporation (XOM - Free Report) and ConocoPhillips (COP - Free Report) . Both the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
ExxonMobil is banking on its key upstream projects centered around Permian – the most prolific basing in the United States – and offshore Guyana resources.
ExxonMobil reported strong fourth-quarter results, thanks to improved realized oil and natural gas prices as well as higher refining and chemical margins. In the past seven days, ExxonMobil has witnessed upward earnings estimate revisions for 2022.
Considering production and proved reserves, ConocoPhillips is one of the leading upstream energy players. In the past 30 days, ConocoPhillips has witnessed upward earnings estimate revisions in the past 30 days.
ConocoPhillips’ estimate for earnings for 2022 is pegged at $9.74 per share, suggesting a year-over-year increase of 62.1%.
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Schlumberger (SLB) Clinches Contract for Tilenga Oil Project
Schlumberger Limited (SLB - Free Report) recently announced the receipt of an award from TotalEnergies SE (TTE - Free Report) for drilling, completions and production services for the leading integrated energy player’s Tilenga onshore oil development in Uganda.
The oilfield service giant said that the contract entails the provision of upper completions, lower completions, directional drilling services, artificial lift solutions and wellheads for the Tilenga project. Schlumberger added that the onshore oil development comprises six fields comprising up to 426 wells. Schlumberger expects the commencement of drilling activities in the fourth quarter of 2022.
For the acceleration of economic growth in Uganda, the Tilenga project is of utmost importance, added Schlumberger. Thus, with the contract, Schlumberger is supporting TotalEnergies with environmental, social, and governance (ESG) initiatives and creating values within the country.
Thus, with the contract, Schlumberger has secured handsome cashflows. TotalEnergies will also probably generate lucrative cashflows from the development of six fields, with a bright production outlook. In the project, TotalEnergies is the operator with a 56.6% interest.
Currently, Schlumberger carries a Zacks Rank #2 (Buy), while TotalEnergies carries a Zacks Rank #3 (Hold). Two prospective stocks belonging to the energy space are Exxon Mobil Corporation (XOM - Free Report) and ConocoPhillips (COP - Free Report) . Both the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
ExxonMobil is banking on its key upstream projects centered around Permian – the most prolific basing in the United States – and offshore Guyana resources.
ExxonMobil reported strong fourth-quarter results, thanks to improved realized oil and natural gas prices as well as higher refining and chemical margins. In the past seven days, ExxonMobil has witnessed upward earnings estimate revisions for 2022.
Considering production and proved reserves, ConocoPhillips is one of the leading upstream energy players. In the past 30 days, ConocoPhillips has witnessed upward earnings estimate revisions in the past 30 days.
ConocoPhillips’ estimate for earnings for 2022 is pegged at $9.74 per share, suggesting a year-over-year increase of 62.1%.