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.
Shell (SHEL) Starts Deep-Water Production in the Gulf of Mexico
Read MoreHide Full Article
Shell plc’s (SHEL - Free Report) subsidiary, Shell Offshore Inc., declared the start of production at PowerNap, a deep-water offshore oil field under development in the U.S. Gulf of Mexico. The projected highest output of the field is around 20,000 barrels of oil equivalent per day.
Identified by Shell in 2014, PowerNap is in the south-central Mississippi Canyon region, roughly 150 miles from New Orleans in about 4,200 feet of water. The three wells produce oil and natural gas through an insulated 19-mile flowline.
PowerNap is a subsea tie-back to the Shell-operated Olympus production hub in the prolific Mars Corridor. Oil production from PowerNap will be delivered to market on the Mars pipeline, which is run by Shell Pipeline Co. and co-owned by Shell Midstream Partners L.P., which has a majority 71.5% stake, and BP Midstream Partners LP, which holds about a 28.5% interest.
Shell Upstream’s Director, Zoe Yujnovich, stated that Shell has been producing in the Mars Corridor for a period longer than 25 years and that the company would strive to unravel even more value there. “PowerNap strengthens a core upstream position that is critical to achieving our Powering Progress strategy and ensuring we can supply the stable, secure energy resources the world needs today and in the future,” he further added.
Headquartered in London, Shell is one of the primary oil supermajors, a group of U.S. and Europe-based big energy multinationals with operations spanning worldwide. The company is fully integrated as it participates in every aspect related to energy, from oil production to refining and marketing. SHEL operates as an energy and petrochemical company. Shell plc was formerly known as Royal Dutch Shell.
Shell currently carries a Zacks Rank #3 (Hold). Investors interested in the energy space might look at the following companies. Ranger Oil , PDC Energy and Devon Energy (DVN - Free Report) each sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Ranger Oil beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters, the average being around 27.3%. Ranger Oil stock has increased 159.4% in a year.
The Zacks Consensus Estimate for ROCC’s 2022 earnings is projected at $10.42 per share, which is an increase of 90.15% from the projected year-ago earnings of $5.48.
PDC Energy’s stock has gone up 115.1% in a year. The Zacks Consensus Estimate for PDC Energy’s 2022 earnings has been revised about 32.4% upward over the past 60 days from $10.51 per share to $13.92.
The Zacks Consensus Estimate for PDCE’s 2022 earnings is pegged at $13.92 per share, up 74.2% from the projected year-ago earnings of $7.99.
The Zacks Consensus Estimate for Devon Energy’s 2022 earnings is projected at $6.66 per share, up about 88.7% from the projected year-ago earnings of $3.53. Devon Energy stock has rallied 174.1% in a year.
Devon Energy beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being around 18.5%. DVN is valued at around $40 billion.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Shell (SHEL) Starts Deep-Water Production in the Gulf of Mexico
Shell plc’s (SHEL - Free Report) subsidiary, Shell Offshore Inc., declared the start of production at PowerNap, a deep-water offshore oil field under development in the U.S. Gulf of Mexico. The projected highest output of the field is around 20,000 barrels of oil equivalent per day.
Identified by Shell in 2014, PowerNap is in the south-central Mississippi Canyon region, roughly 150 miles from New Orleans in about 4,200 feet of water. The three wells produce oil and natural gas through an insulated 19-mile flowline.
PowerNap is a subsea tie-back to the Shell-operated Olympus production hub in the prolific Mars Corridor. Oil production from PowerNap will be delivered to market on the Mars pipeline, which is run by Shell Pipeline Co. and co-owned by Shell Midstream Partners L.P., which has a majority 71.5% stake, and BP Midstream Partners LP, which holds about a 28.5% interest.
Shell Upstream’s Director, Zoe Yujnovich, stated that Shell has been producing in the Mars Corridor for a period longer than 25 years and that the company would strive to unravel even more value there. “PowerNap strengthens a core upstream position that is critical to achieving our Powering Progress strategy and ensuring we can supply the stable, secure energy resources the world needs today and in the future,” he further added.
Headquartered in London, Shell is one of the primary oil supermajors, a group of U.S. and Europe-based big energy multinationals with operations spanning worldwide. The company is fully integrated as it participates in every aspect related to energy, from oil production to refining and marketing. SHEL operates as an energy and petrochemical company. Shell plc was formerly known as Royal Dutch Shell.
Shell currently carries a Zacks Rank #3 (Hold). Investors interested in the energy space might look at the following companies. Ranger Oil , PDC Energy and Devon Energy (DVN - Free Report) each sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Ranger Oil beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters, the average being around 27.3%. Ranger Oil stock has increased 159.4% in a year.
The Zacks Consensus Estimate for ROCC’s 2022 earnings is projected at $10.42 per share, which is an increase of 90.15% from the projected year-ago earnings of $5.48.
PDC Energy’s stock has gone up 115.1% in a year. The Zacks Consensus Estimate for PDC Energy’s 2022 earnings has been revised about 32.4% upward over the past 60 days from $10.51 per share to $13.92.
The Zacks Consensus Estimate for PDCE’s 2022 earnings is pegged at $13.92 per share, up 74.2% from the projected year-ago earnings of $7.99.
The Zacks Consensus Estimate for Devon Energy’s 2022 earnings is projected at $6.66 per share, up about 88.7% from the projected year-ago earnings of $3.53. Devon Energy stock has rallied 174.1% in a year.
Devon Energy beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being around 18.5%. DVN is valued at around $40 billion.