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BP Plc's (BP) Thunder Horse Platform Restores Power Supply
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Per Reuters, British energy giant BP Plc (BP - Free Report) has solved the temporary power outage problem at Thunder Horse platform.
Following an interruption of electrical services, power supply at the Thunder Horse platform was cut on Sep 18. However, BP’s staffs are being sent to the platform with the restoration of power,
In the U.S. Gulf Coast, Thunder Horse is the largest drilling platform of the integrated energy player. The platform has daily production capacity of 200 million cubic feet of natural gas and 250,000 barrels of crude. Notably, the processed fuel, generated from produced oil and natural gas can create sufficient energy. This energy, in turn, will be able to provide electricity in each and every house of Miami at least for a month.
Also, this platform is being used to develop Thunder Horse Field, which is among the largest oil and gas producing fields at offshore of the Gulf of Mexico. Although discovered in 1999, first oil from this field was produced in 2008.
In fact, BP, being the operator of the Thunder Horse project, has 75% interest in both Thunder Horse field and Thunder Horse platform. The remaining 25% stake belongs to energy major ExxonMobil (XOM - Free Report) .
Markedly, the company is one of the largest integrated energy firms in the world with a strong and diversified portfolio of development projects. Headquartered in London, BP’s upstream projects are expected to fetch significant cash flows starting 2020 and beyond. Moreover, this energy giant’s drilling operations are getting efficient as reflected by the steady decline in non-productive time since 2012.
However, BP's pricing chart has failed to impress. In the past year, the company gained 8.7%, underperforming the 9.6% improvement for its industry.
BP currently carries a Zacks Rank #3 (Hold), implying that the stock will perform in line with the broader U.S. equity market over the next one to three months.
Headquartered in Calgary, Canada, TransCanada is a midstream energy firm in North America. The company delivered an average positive earnings surprise of 4.06% over the last four quarters.
Transmontaigne, headquartered in Denver, CO, is involved in the transportation and storage of refined petroleum products. The firm pulled off an average positive earnings surprise of 6.60% over the last four quarters.
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Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
BP Plc's (BP) Thunder Horse Platform Restores Power Supply
Per Reuters, British energy giant BP Plc (BP - Free Report) has solved the temporary power outage problem at Thunder Horse platform.
Following an interruption of electrical services, power supply at the Thunder Horse platform was cut on Sep 18. However, BP’s staffs are being sent to the platform with the restoration of power,
In the U.S. Gulf Coast, Thunder Horse is the largest drilling platform of the integrated energy player. The platform has daily production capacity of 200 million cubic feet of natural gas and 250,000 barrels of crude. Notably, the processed fuel, generated from produced oil and natural gas can create sufficient energy. This energy, in turn, will be able to provide electricity in each and every house of Miami at least for a month.
Also, this platform is being used to develop Thunder Horse Field, which is among the largest oil and gas producing fields at offshore of the Gulf of Mexico. Although discovered in 1999, first oil from this field was produced in 2008.
In fact, BP, being the operator of the Thunder Horse project, has 75% interest in both Thunder Horse field and Thunder Horse platform. The remaining 25% stake belongs to energy major ExxonMobil (XOM - Free Report) .
Markedly, the company is one of the largest integrated energy firms in the world with a strong and diversified portfolio of development projects. Headquartered in London, BP’s upstream projects are expected to fetch significant cash flows starting 2020 and beyond. Moreover, this energy giant’s drilling operations are getting efficient as reflected by the steady decline in non-productive time since 2012.
However, BP's pricing chart has failed to impress. In the past year, the company gained 8.7%, underperforming the 9.6% improvement for its industry.
BP currently carries a Zacks Rank #3 (Hold), implying that the stock will perform in line with the broader U.S. equity market over the next one to three months.
A few of better-ranked stocks in the energy sector are TransCanada Corporation (TRP - Free Report) and Transmontaigne Partners LP . Both the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Headquartered in Calgary, Canada, TransCanada is a midstream energy firm in North America. The company delivered an average positive earnings surprise of 4.06% over the last four quarters.
Transmontaigne, headquartered in Denver, CO, is involved in the transportation and storage of refined petroleum products. The firm pulled off an average positive earnings surprise of 6.60% over the last four quarters.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>