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Baker Hughes Plans to Compete for Production Sharing Accord
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Baker Hughes, a GE company intends to bid for a production sharing contract likely to be tendered by Petroleo Brasileiro S.A. (PBR - Free Report) or Petrobras SA, per Reuters. Notably, this is the first time that Petrobras will be inviting bids for production sharing accord from oilfield services players.
Petrobras is presently preparing to allocate significant capital to exploit and develop the prospective pre-salt fields of Brazil. Since the debt-laden integrated energy player’s capital budget is constrained, Petrobras believes that partnering with a leading oilfield services player would be a better option to generate handsome returns while producing from aging or matured fields.
With other leading oilfield services players, Baker Hughes is planning to compete for the production sharing deal with a focus not only to maximize oil and natural gas volumes from the aging Canto do Amaro field in the Potiguar basin but also to offer chunk of the produced volumes to Petrobras. It is to be noted that production from the Potiguar basin’s oil field started way back in 1986.
While Baker Hughes — based in Houston, TX — currently carries Zacks Rank #3 (Hold), Petrobras — headquartered in Rio de Janeiro, Brazil — sports a Zacks Rank #1 (Strong Buy).
Investors could consider two prospective stocks in the energy space like Shell Midstream Partners LP and Oasis Midstream Partners LP . Both the stocks sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shell Midstream Partners has an average positive earnings surprise of 7.9% for the last four quarters.
Oasis Midstream will likely see earnings growth of 323.3% and 60.1% in 2018 and 2019, respectively.
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It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6% and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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Baker Hughes Plans to Compete for Production Sharing Accord
Baker Hughes, a GE company intends to bid for a production sharing contract likely to be tendered by Petroleo Brasileiro S.A. (PBR - Free Report) or Petrobras SA, per Reuters. Notably, this is the first time that Petrobras will be inviting bids for production sharing accord from oilfield services players.
Petrobras is presently preparing to allocate significant capital to exploit and develop the prospective pre-salt fields of Brazil. Since the debt-laden integrated energy player’s capital budget is constrained, Petrobras believes that partnering with a leading oilfield services player would be a better option to generate handsome returns while producing from aging or matured fields.
With other leading oilfield services players, Baker Hughes is planning to compete for the production sharing deal with a focus not only to maximize oil and natural gas volumes from the aging Canto do Amaro field in the Potiguar basin but also to offer chunk of the produced volumes to Petrobras. It is to be noted that production from the Potiguar basin’s oil field started way back in 1986.
While Baker Hughes — based in Houston, TX — currently carries Zacks Rank #3 (Hold), Petrobras — headquartered in Rio de Janeiro, Brazil — sports a Zacks Rank #1 (Strong Buy).
Investors could consider two prospective stocks in the energy space like Shell Midstream Partners LP and Oasis Midstream Partners LP . Both the stocks sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shell Midstream Partners has an average positive earnings surprise of 7.9% for the last four quarters.
Oasis Midstream will likely see earnings growth of 323.3% and 60.1% in 2018 and 2019, respectively.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6% and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>