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Noble (NE) Secures Additional Work With Petronas in Suriname
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Noble Corporation PLC (NE - Free Report) , an offshore drilling contractor, has secured more work for its drillship Noble Voyager offshore Suriname. Petronas Suriname E&P, a subsidiary of Malaysia’s state-owned energy company Petronas, has exercised the option to drill one additional well off the coast of Suriname, prolonging the Noble Voyager drillship’s stay in the region.
Noble Voyager had previously won a contract to drill one well, plus one option well, with Petronas in Block 52, offshore Suriname. The extended contract is expected to commence in direct continuation of the rig’s current contract. The estimated duration of the extension is 70 days. The day rate is fixed at $470,000.
The Noble Voyager is a Samsung 96K drillship that can operate at depths of 12,000 feet underwater. Its maximum drilling depth is up to 40,000 feet. Built in 2015, the drillship has the capacity to accommodate 230 people.
Noble Corporation is actively working towards reducing the carbon footprint of its drilling operations using many different tools. The offshore driller has implemented fleetwide rollout of a digital emission-monitoring solution, which has been on 29 rigs.
Noble has stated that the extension is part of a very important partnership with Petronas. By securing additional work for its drillship, Noble Voyager signifies a strong partnership between the two companies. NE has been involved in the Suriname drilling campaign for several years now.
Archrock is an energy infrastructure company based in the United States, with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.
Sunoco LP is one of the largest distributors of motor fuel in the United States. The partnership distributes fuel to independent dealers, commercial customers, convenience stores as well as distributors. Its current distribution yield is greater than the composite stocks in the industry, providing unitholders with consistent returns.
Helmerich & Payne is primarily involved in the contract drilling of oil and natural gas, with operations in all major U.S. onshore basins as well as in South America, Australia and the Middle East. In the past months, the company has secured eight new rig contracts with Saudi Aramco, thereby expanding its presence in the Middle East. With plans to capitalize on unconventional drilling growth opportunities, HP’s outlook seems positive.
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Noble (NE) Secures Additional Work With Petronas in Suriname
Noble Corporation PLC (NE - Free Report) , an offshore drilling contractor, has secured more work for its drillship Noble Voyager offshore Suriname. Petronas Suriname E&P, a subsidiary of Malaysia’s state-owned energy company Petronas, has exercised the option to drill one additional well off the coast of Suriname, prolonging the Noble Voyager drillship’s stay in the region.
Noble Voyager had previously won a contract to drill one well, plus one option well, with Petronas in Block 52, offshore Suriname. The extended contract is expected to commence in direct continuation of the rig’s current contract. The estimated duration of the extension is 70 days. The day rate is fixed at $470,000.
The Noble Voyager is a Samsung 96K drillship that can operate at depths of 12,000 feet underwater. Its maximum drilling depth is up to 40,000 feet. Built in 2015, the drillship has the capacity to accommodate 230 people.
Noble Corporation is actively working towards reducing the carbon footprint of its drilling operations using many different tools. The offshore driller has implemented fleetwide rollout of a digital emission-monitoring solution, which has been on 29 rigs.
Noble has stated that the extension is part of a very important partnership with Petronas. By securing additional work for its drillship, Noble Voyager signifies a strong partnership between the two companies. NE has been involved in the Suriname drilling campaign for several years now.
Zacks Rank and Key Picks
Currently, NE holds a Zacks Rank #3 (Hold).
Some better-ranked stocks in the energy sector are Archrock Inc. (AROC - Free Report) , Sunoco LP (SUN - Free Report) and Helmerich & Payne (HP - Free Report) . Archrock and Sunoco presently sport a Zacks Rank #1 (Strong Buy) each, while Helmerich & Payne carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Archrock is an energy infrastructure company based in the United States, with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.
Sunoco LP is one of the largest distributors of motor fuel in the United States. The partnership distributes fuel to independent dealers, commercial customers, convenience stores as well as distributors. Its current distribution yield is greater than the composite stocks in the industry, providing unitholders with consistent returns.
Helmerich & Payne is primarily involved in the contract drilling of oil and natural gas, with operations in all major U.S. onshore basins as well as in South America, Australia and the Middle East. In the past months, the company has secured eight new rig contracts with Saudi Aramco, thereby expanding its presence in the Middle East. With plans to capitalize on unconventional drilling growth opportunities, HP’s outlook seems positive.