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 Gas Production at Timi Field in Malaysia
Read MoreHide Full Article
Shell plc’s (SHEL - Free Report) subsidiary, Sarawak Shell Berhad recently announced the commencement of gas production from its Timi platform in Malaysia, operating under the SK318 production sharing contract. This endeavor not only signifies a breakthrough in gas production but also reflects Shell's unwavering commitment to sustainable innovation and the ongoing energy transition.
Unveiling Timi: Pioneering Sustainability and Efficiency
The Timi platform stands testimony to Shell's commitment to innovation, featuring a solar and wind hybrid power system. Notably, this marks Shell's pioneering achievement of introducing the very first wellhead platform in Malaysia that harnesses the potency of renewable energy sources. This advanced system not only signifies a significant step toward sustainability but also enhances cost efficiency.
Revolutionizing Efficiency: Lighter Footprint and Reduced Dependency
The Timi platform's ingeniously designed structure weighs approximately 60% less than conventional tender-assisted drilling wellhead platforms, which predominantly rely on conventional oil and gas energy sources. This innovative approach not only diminishes the platform's ecological footprint but also elevates its efficiency quotient.
Timi's Productive Potential: Spearheading Energy Generation
Timi's strategic design ensures an impressive peak gas production capability of up to 50,000 barrels of oil equivalent per day. This momentous output will be effectively transported through a cutting-edge 80-kilometre pipeline to the well-established F23 production hub. The visionary project bears significance in nurturing the forthcoming expansion in the central Luconia region, strategically located off the vibrant coast of Sarawak.
Fortified Commitment: Shell's Enduring Legacy
Shell has a long history of success in Malaysia. The company continues to be dedicated to its mission to fuel the country's economic advancement while meticulously navigating the complexities of the energy transition, led by the capable stewardship of Malaysia Petroleum Management, PETRONAS. The cornerstone of this commitment lies in nurturing a portfolio of investments that not only endures but also thrives in the face of competition and adversity.
In conclusion, the inception of gas production from the Timi platform stands as a testament to Shell's visionary approach to sustainability, innovation and resilience. It portrays the trajectory toward an energy-efficient future, where solutions and strategic partnerships culminate in a thriving, balanced energy landscape for Malaysia.
CVR Energy (CVI - Free Report) is valued at around $3.31 billion. In the past year, its shares have lost 7.4%.
CVI currently pays a dividend of $2 per share, or 6.07% on an annual basis. Its payout ratio currently sits at 30% of earnings.
Evolution Petroleum is worth approximately $291.1 million. EPM currently pays a dividend of 48 cents per share, or 5.49% on an annual basis.
The company currently has a forward P/E ratio of 8.56. In comparison, its industry has an average forward P/E of 14.10, which means EPM is trading at a discount to the group.
Archrock is valued at around $1.96 billion. It delivered an average earnings surprise of 15.08% for the last four quarters and its current dividend yield is 4.96%.
Archrock is a provider of natural gas contract compression services and aftermarket services of compression equipment.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Shell (SHEL) Starts Gas Production at Timi Field in Malaysia
Shell plc’s (SHEL - Free Report) subsidiary, Sarawak Shell Berhad recently announced the commencement of gas production from its Timi platform in Malaysia, operating under the SK318 production sharing contract. This endeavor not only signifies a breakthrough in gas production but also reflects Shell's unwavering commitment to sustainable innovation and the ongoing energy transition.
Unveiling Timi: Pioneering Sustainability and Efficiency
The Timi platform stands testimony to Shell's commitment to innovation, featuring a solar and wind hybrid power system. Notably, this marks Shell's pioneering achievement of introducing the very first wellhead platform in Malaysia that harnesses the potency of renewable energy sources. This advanced system not only signifies a significant step toward sustainability but also enhances cost efficiency.
Revolutionizing Efficiency: Lighter Footprint and Reduced Dependency
The Timi platform's ingeniously designed structure weighs approximately 60% less than conventional tender-assisted drilling wellhead platforms, which predominantly rely on conventional oil and gas energy sources. This innovative approach not only diminishes the platform's ecological footprint but also elevates its efficiency quotient.
Timi's Productive Potential: Spearheading Energy Generation
Timi's strategic design ensures an impressive peak gas production capability of up to 50,000 barrels of oil equivalent per day. This momentous output will be effectively transported through a cutting-edge 80-kilometre pipeline to the well-established F23 production hub. The visionary project bears significance in nurturing the forthcoming expansion in the central Luconia region, strategically located off the vibrant coast of Sarawak.
Fortified Commitment: Shell's Enduring Legacy
Shell has a long history of success in Malaysia. The company continues to be dedicated to its mission to fuel the country's economic advancement while meticulously navigating the complexities of the energy transition, led by the capable stewardship of Malaysia Petroleum Management, PETRONAS. The cornerstone of this commitment lies in nurturing a portfolio of investments that not only endures but also thrives in the face of competition and adversity.
In conclusion, the inception of gas production from the Timi platform stands as a testament to Shell's visionary approach to sustainability, innovation and resilience. It portrays the trajectory toward an energy-efficient future, where solutions and strategic partnerships culminate in a thriving, balanced energy landscape for Malaysia.
Zacks Rank and Key Picks
Currently, SHEL carries a Zacks Rank #3 (Hold).
Some better-ranked stocks for investors interested in the energy sector are CVR Energy (CVI - Free Report) , sporting a Zacks Rank #1 (Strong Buy), and Evolution Petroleum (EPM - Free Report) and Archrock (AROC - Free Report) , both carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
CVR Energy (CVI - Free Report) is valued at around $3.31 billion. In the past year, its shares have lost 7.4%.
CVI currently pays a dividend of $2 per share, or 6.07% on an annual basis. Its payout ratio currently sits at 30% of earnings.
Evolution Petroleum is worth approximately $291.1 million. EPM currently pays a dividend of 48 cents per share, or 5.49% on an annual basis.
The company currently has a forward P/E ratio of 8.56. In comparison, its industry has an average forward P/E of 14.10, which means EPM is trading at a discount to the group.
Archrock is valued at around $1.96 billion. It delivered an average earnings surprise of 15.08% for the last four quarters and its current dividend yield is 4.96%.
Archrock is a provider of natural gas contract compression services and aftermarket services of compression equipment.