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Shell (SHEL) to Proceed With Gas Project in Offshore Malaysia
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Shell plc (SHEL - Free Report) recently announced that it has taken a final investment decision to go ahead with the development of the Rosmari-Marjoram gas fields situated off the southeast coast of Malaysia.
The British energy major stated that the project is intended to produce 800 million standard cubic feet of gas per day, with the first gas output anticipated in 2026.
A subsidiary of SHEL — Sarawak Shell Berhad — owns an 80% stake and is the operator of the project. Meanwhile, the remaining 20% interest is held by Malaysian state-owned Petronas.
Discovered in 2014, the Rosmari-Marjoram fields are located approximately 220 kilometers (136.7 miles) off the coast of Bintulu in the Malaysian state of Sarawak. The development of this deepwater sour gas field will consist of a subsea tie-back, an unmanned wellhead platform, a 207 km pipeline to the shore and an onshore gas plant at Bintulu.
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.
The Zacks Consensus Estimate for RPC’s 2022 earnings is pegged at 55 cents per share, up 1733% from the year-ago earnings of 3 cents.
RES beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being around 80%.
The Zacks Consensus Estimate for EnLink’s 2022 earnings stands at 41 cents per share, up 720% from the year-ago earnings of 5 cents.
The Zacks Consensus Estimate for ENLC’s 2022 earnings has been revised upward by about 20.7% over the past 60 days from 31 cents to 41 cents per share.
The Zacks Consensus Estimate for Vermilion’s 2022 earnings stands at $5.76 per share, which is an increase of approximately 128.6% from the year-ago earnings of $2.52.
The Zacks Consensus Estimate for VET’s 2022 earnings per share has been revised from $4.51 to $5.76, up about 28%, in the past 60 days.
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Shell (SHEL) to Proceed With Gas Project in Offshore Malaysia
Shell plc (SHEL - Free Report) recently announced that it has taken a final investment decision to go ahead with the development of the Rosmari-Marjoram gas fields situated off the southeast coast of Malaysia.
The British energy major stated that the project is intended to produce 800 million standard cubic feet of gas per day, with the first gas output anticipated in 2026.
A subsidiary of SHEL — Sarawak Shell Berhad — owns an 80% stake and is the operator of the project. Meanwhile, the remaining 20% interest is held by Malaysian state-owned Petronas.
Discovered in 2014, the Rosmari-Marjoram fields are located approximately 220 kilometers (136.7 miles) off the coast of Bintulu in the Malaysian state of Sarawak. The development of this deepwater sour gas field will consist of a subsea tie-back, an unmanned wellhead platform, a 207 km pipeline to the shore and an onshore gas plant at Bintulu.
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 #2 (Buy). Some other top-ranked stocks from the energy space that warrant a look include RPC (RES - Free Report) , EnLink Midstream (ENLC - Free Report) and Vermilion Energy (VET - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for RPC’s 2022 earnings is pegged at 55 cents per share, up 1733% from the year-ago earnings of 3 cents.
RES beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being around 80%.
The Zacks Consensus Estimate for EnLink’s 2022 earnings stands at 41 cents per share, up 720% from the year-ago earnings of 5 cents.
The Zacks Consensus Estimate for ENLC’s 2022 earnings has been revised upward by about 20.7% over the past 60 days from 31 cents to 41 cents per share.
The Zacks Consensus Estimate for Vermilion’s 2022 earnings stands at $5.76 per share, which is an increase of approximately 128.6% from the year-ago earnings of $2.52.
The Zacks Consensus Estimate for VET’s 2022 earnings per share has been revised from $4.51 to $5.76, up about 28%, in the past 60 days.