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Subsea7 Awards Multi-Year Extension for Seven Viking Subsea Vessel
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Subsea7 S.A. (SUBCY - Free Report) and Eidesvik Offshore’s joint venture (JV) company, Eidesvik Seven Chartering, has secured a contract extension with Subsea7 for the Seven Viking subsea vessel. The extension is expected to prolong the vessel’s stay with Subsea7 through 2026 and 2027.
Per the terms of the agreement, SUBCY has awarded a firm option for 2026 and 2027 to the Seven Viking subsea vessel. Moreover, the agreement includes an option to extend the contract by another year. Per Eidesvik, the vessel has been chartered for 2027 and 2028 at current market rates. Eidesvik mentioned that this contract for Seven Viking further strengthens its long-term collaboration with Subsea7.
The Seven Viking subsea vessel boasts Ulstein’s SX148 design and has a length of 106.5 meters. It is an inspection, repair, and maintenance vessel that can undertake light construction and scale treatment tasks. It also provides diving support services and can accommodate 90 people.
SUBCY’s Zacks Rank and Key Picks
SUBCY currently carries a Zacks Rank #5 (Strong Sell).
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. With natural gas playing an increasingly important role in the energy transition journey, AROC is expected to witness sustained demand for its services.
Nine Energy Service provides onshore completion and production services for unconventional oil and gas resource development. It operates across key prolific basins in the United States, including the Permian, Eagle Ford, MidCon, Barnett, Bakken, Rockies, Marcellus and Utica, as well as throughout Canada. With a sustained demand for oil and gas in the future, the need for NINE’s services is anticipated to increase, which should position the company for growth in the long run.
Kinder Morgan is a leading North American midstream player with a stable and resilient business model, largely driven by take-or-pay contracts. KMI’s stable business model shields it from commodity price volatility, resulting in predictable earnings and facilitating reliable capital returns to its shareholders.
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Subsea7 Awards Multi-Year Extension for Seven Viking Subsea Vessel
Subsea7 S.A. (SUBCY - Free Report) and Eidesvik Offshore’s joint venture (JV) company, Eidesvik Seven Chartering, has secured a contract extension with Subsea7 for the Seven Viking subsea vessel. The extension is expected to prolong the vessel’s stay with Subsea7 through 2026 and 2027.
Per the terms of the agreement, SUBCY has awarded a firm option for 2026 and 2027 to the Seven Viking subsea vessel. Moreover, the agreement includes an option to extend the contract by another year. Per Eidesvik, the vessel has been chartered for 2027 and 2028 at current market rates. Eidesvik mentioned that this contract for Seven Viking further strengthens its long-term collaboration with Subsea7.
The Seven Viking subsea vessel boasts Ulstein’s SX148 design and has a length of 106.5 meters. It is an inspection, repair, and maintenance vessel that can undertake light construction and scale treatment tasks. It also provides diving support services and can accommodate 90 people.
SUBCY’s Zacks Rank and Key Picks
SUBCY currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks from the energy sector are Archrock Inc. (AROC - Free Report) , Nine Energy Service (NINE - Free Report) and Kinder Morgan, Inc. (KMI - Free Report) . While Archrock currently sports a Zacks Rank #1 (Strong Buy), Nine Energy Service and Kinder Morgan carry a Zacks Rank #2 (Buy) each. 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. With natural gas playing an increasingly important role in the energy transition journey, AROC is expected to witness sustained demand for its services.
Nine Energy Service provides onshore completion and production services for unconventional oil and gas resource development. It operates across key prolific basins in the United States, including the Permian, Eagle Ford, MidCon, Barnett, Bakken, Rockies, Marcellus and Utica, as well as throughout Canada. With a sustained demand for oil and gas in the future, the need for NINE’s services is anticipated to increase, which should position the company for growth in the long run.
Kinder Morgan is a leading North American midstream player with a stable and resilient business model, largely driven by take-or-pay contracts. KMI’s stable business model shields it from commodity price volatility, resulting in predictable earnings and facilitating reliable capital returns to its shareholders.