Latest news with #Subsea7
Yahoo
6 hours ago
- Business
- Yahoo
ExxonMobil Raises Output at Cepu Block, Boosts Indonesia's Oil Output
Exxon Mobil Corporation XOM, the U.S. oil and gas giant, has ramped up production at the Cepu Block in Indonesia, delivering an additional 30,000 barrels of oil per day. The country's energy ministry made an announcement confirming the increase in production. Prior to this, the Cepu Block was producing at a rate of 150,000 barrels per day (bpd). The block will now produce 180,000 bpd, supporting Indonesia's ambitions to increase oil production. The country had set its oil lifting target for 2024 at 605,000 barrels per day. However, the average production was 579,700 bpd between January and May, falling short of its target levels. The Cepu Block alone accounts for approximately 25% of the nation's total oil production. ExxonMobil operates another project in Indonesia, namely the Banyu Urip project, in collaboration with the state-owned oil company, Pertamina. The Energy Ministry of Indonesia had previously stated that this project holds significant potential, with the capacity to produce up to 1 billion barrels of oil. Indonesia is currently experiencing a decline in national oil production and seeking ways to increase output levels. The Indonesian government has set ambitious production targets of 1 million barrels per day of oil and 12 billion standard cubic feet of gas per day by 2030. This is aimed at offsetting declining production and strengthening the nation's energy security. XOM's Zacks Rank & Key Picks XOM currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the energy sector are Flotek Industries Inc. FTK, Subsea7 S.A. SUBCY and Oceaneering International OII. While both Flotek Industries and Subsea7 sport a Zacks Rank #1 (Strong Buy) at present, Oceaneering International carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here. Flotek Industries specializes in green chemistry, providing innovative solutions that reduce the environmental impact of the energy industry. Flotek develops specialty chemicals tailored for both domestic and international energy producers, as well as oilfield service companies. These chemicals not only help reduce the environmental impact of hydrocarbon production but also lower operational costs. Subsea 7 helps build underwater oil and gas fields. It is a leading player in the global offshore energy industry and provides engineering, construction, and related services at offshore oil and gas fields. The long-term outlook for energy demand remains positive, and Subsea7's focus on cost-efficient deepwater projects strengthens the position of its subsea business. Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. The company is a leading offshore equipment and technology solutions provider to the energy industry. OII's proven ability to deliver innovative, integrated solutions supports ongoing client retention and new business opportunities, ensuring steady revenue growth. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report Oceaneering International, Inc. (OII) : Free Stock Analysis Report Subsea 7 SA (SUBCY) : Free Stock Analysis Report Flotek Industries, Inc. (FTK) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25-06-2025
- Business
- Yahoo
SLB Warns of Flat Q2 on Saudi and Latin America Activity Slowdown
SLB SLB, the oilfield services giant, anticipates its second-quarter 2025 revenues and core profit to remain flat on a sequential basis, primarily due to an unexpected slowdown in drilling activity in Saudi Arabia and Latin America, per a Reuters report. According to the report, CEO Olivier Le Peuch provided the updated outlook during the J.P. Morgan Energy, Power & Renewables Conference in New York. He noted that actual field activity in the quarter has diverged from the company's original assumptions, particularly in the Middle East and South America. According to Le Peuch, several drilling rigs were demobilized in Saudi Arabia and operations were paused at the Jafurah unconventional gas field. These developments contributed significantly to the softer-than-expected operational performance for the quarter. The Jafurah field, one of the largest shale gas developments outside the United States, has been central to SLB's regional business in recent years, making the pause especially impactful. Meanwhile, in Latin America, SLB reported a decline in short-cycle project activity, further pressuring top-line growth. Short-cycle operations, often associated with faster returns, have become increasingly sensitive to pricing and capital discipline, and the pullback in activity reflects shifting customer behavior in the region. Le Peuch cautioned that the company's margin profile will be affected in the second quarter due to what he described as an unfavorable geographical activity mix. The decline in higher-margin Middle Eastern and Latin American operations, coupled with cost rigidity in service delivery, is likely to weigh on profitability. As a result, SLB expects second-quarter EBITDA to come in flat quarter over quarter, falling slightly below its prior guidance. The CEO also highlighted geopolitical risk in the region, stating that the company's current forecast assumes no disruptions to operations in the Persian Gulf amid ongoing tensions. Any escalation could pose additional downside risks. Despite the operational headwinds, SLB reaffirmed its commitment to its capital return program. The company still plans to return at least $4 billion to shareholders in 2025, signaling confidence in its overall financial resilience and long-term strategic positioning. SLB currently carries a Zack Rank #3 (Hold). Investors interested in the energy sector may look at a few better-ranked stocks like Subsea 7 S.A. SUBCY, W&T Offshore, Inc. WTI and Oceaneering International, Inc. OII. Subsea 7 presently sports a Zacks Rank #1 (Strong Buy), while W&T Offshore and Oceaneering International carry a Zacks Rank #2 (Buy) each. You can see the complete list of today's Zacks #1 Rank stocks here. Subsea 7 helps build underwater oil and gas fields. It is a top player in the Oil and Gas Equipment and Services market, which is expected to grow as oil and gas production moves further offshore. The Zacks Consensus Estimate for SUBCY's 2025 EPS is pegged at $1.31. The company has a Value Score of A. W&T Offshore benefits from its prolific Gulf of America assets, which offer low decline rates, strong permeability, and significant untapped reserves. The company's acquisition of six shallow-water fields in the GoA added 18.7 million barrels of proved reserves and 60.6 million barrels of proved plus probable reserves. The firm is focused on strategically allocating capital toward organic projects, which should boost its production outlook. WTI has a Value Score of B. Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. With a geographically diverse asset portfolio and a balanced revenue mix between domestic and international operations, the company effectively mitigates risk. As a leading provider of offshore equipment and technology solutions to the energy sector, OII benefits from strong relationships with top-tier customers, ensuring revenue visibility and business stability. The Zacks Consensus Estimate for OII's 2025 EPS is pegged at $1.79. The company has a Value Score of B. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Schlumberger Limited (SLB) : Free Stock Analysis Report W&T Offshore, Inc. (WTI) : Free Stock Analysis Report Oceaneering International, Inc. (OII) : Free Stock Analysis Report Subsea 7 SA (SUBCY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Business Insider
20-06-2025
- Business
- Business Insider
Kepler Capital Reaffirms Their Buy Rating on Subsea 7 (0OGK)
In a report released on June 18, Kevin Roger from Kepler Capital maintained a Buy rating on Subsea 7 (0OGK – Research Report), with a price target of NOK290.00. The company's shares closed last Wednesday at NOK191.42. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Roger covers the Energy sector, focusing on stocks such as Subsea 7, Saipem SpA, and Gaztransport et technigaz. According to TipRanks, Roger has an average return of 14.4% and a 64.76% success rate on recommended stocks. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Subsea 7 with a NOK229.00 average price target. The company has a one-year high of NOK217.80 and a one-year low of NOK131.40. Currently, Subsea 7 has an average volume of 229.5K.
Yahoo
17-06-2025
- Business
- Yahoo
Subsea 7 - contract award offshore Norway
Luxembourg – 17 June 2025 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a substantial1 contract offshore Norway. Subsea7's scope includes engineering, procurement, construction and installation (EPCI) of pipeline bundles, spools, protection covers and tie-ins using key vessels from Subsea7's fleet. Project management and engineering will commence immediately at Subsea7's offices in Stavanger, Norway and Aberdeen, Scotland. Fabrication of pipeline bundles will take place at Wester, Scotland. Offshore operations are expected to take place in 2025-2027. Erik Femsteinevik, Vice President for Subsea7 Norway said: "We are excited to have been awarded this project. Our collaboration with our clients leverages our collective experience from past and current projects. By engaging early in the field development process, we can optimise design solutions and contribute to a positive final investment decision. Subsea7 looks forward to a safe, efficient, and reliable field development." No further details are disclosed at this time. Subsea7 defines a substantial contract as being between $150 million and $300 million. *******************************************************************************Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry's partner and employer of choice in delivering the efficient offshore solutions the world needs. Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62. ******************************************************************************* Contact for investment community enquiries:Katherine TonksInvestor Relations DirectorTel +44 20 8210 5568ir@ Contact for media enquiries:Jan Roger MoksnesCommunications ManagerTel +47 Forward-Looking Statements: This document may contain 'forward-looking statements' (within the meaning of the safe harbour provisions of the U.S. Private Securities Litigation Reform Act of 1995). These statements relate to our current expectations, beliefs, intentions, assumptions or strategies regarding the future and are subject to known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements may be identified by the use of words such as 'anticipate', 'believe', 'estimate', 'expect', 'future', 'goal', 'intend', 'likely' 'may', 'plan', 'project', 'seek', 'should', 'strategy' 'will', and similar expressions. The principal risks which could affect future operations of the Group are described in the 'Risk Management' section of the Group's Annual Report and Consolidated Financial Statements. Factors that may cause actual and future results and trends to differ materially from our forward-looking statements include (but are not limited to): (i) our ability to deliver fixed price projects in accordance with client expectations and within the parameters of our bids, and to avoid cost overruns; (ii) our ability to collect receivables, negotiate variation orders and collect the related revenue; (iii) our ability to recover costs on significant projects; (iv) capital expenditure by oil and gas companies, which is affected by fluctuations in the price of, and demand for, crude oil and natural gas; (v) unanticipated delays or cancellation of projects included in our backlog; (vi) competition and price fluctuations in the markets and businesses in which we operate; (vii) the loss of, or deterioration in our relationship with, any significant clients; (viii) the outcome of legal proceedings or governmental inquiries; (ix) uncertainties inherent in operating internationally, including economic, political and social instability, boycotts or embargoes, labour unrest, changes in foreign governmental regulations, corruption and currency fluctuations; (x) the effects of a pandemic or epidemic or a natural disaster; (xi) liability to third parties for the failure of our joint venture partners to fulfil their obligations; (xii) changes in, or our failure to comply with, applicable laws and regulations (including regulatory measures addressing climate change); (xiii) operating hazards, including spills, environmental damage, personal or property damage and business interruptions caused by adverse weather; (xiv) equipment or mechanical failures, which could increase costs, impair revenue and result in penalties for failure to meet project completion requirements; (xv) the timely delivery of vessels on order and the timely completion of ship conversion programmes; (xvi) our ability to keep pace with technological changes and the impact of potential information technology, cyber security or data security breaches; (xvii) global availability at scale and commercially viability of suitable alternative vessel fuels; and (xviii) the effectiveness of our disclosure controls and procedures and internal control over financial reporting. Many of these factors are beyond our ability to control or predict. Given these uncertainties, you should not place undue reliance on the forward-looking statements. Each forward-looking statement speaks only as of the date of this document. We undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 17 June 2025 at 16:40 CET. Attachment SUBC Norway June 2025
Yahoo
16-06-2025
- Business
- Yahoo
Subsea 7 S.A. - 2Q25 earnings call notification
Luxembourg – 16 June 2025 – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) will publish its second quarter 2025 results for the period ended 30 June 2025 on Thursday 31 July 2025 at 08:00 CET. A conference call and simultaneous webcast for the investment community will be held on Thursday 31 July 2025 at 11:00 UK / 12:00 CET. From 08:00 CET the results announcement and the presentation to be reviewed during the conference call and webcast will be available on the Subsea7 website. Conference call registration:Phone: Please note that questions can only be submitted from a phone line. *******************************************************************************Subsea7 creates sustainable value by delivering the offshore energy transition solutions the world needs. Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62. ******************************************************************************* Contact for investor enquiries:Katherine TonksHead of Investor Relations Subsea 7 +44 20 8210 5568ir@ This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 16 June 2025 at 12:30 CET. Attachment SUBC 2Q25 Conference CallSign in to access your portfolio
