Latest news with #Subsea7
Business Insider
a day ago
- 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
4 days ago
- 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
5 days ago
- 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
Yahoo
11-06-2025
- Business
- Yahoo
Cenovus CEO Defends Canada-US Energy Ties Amid Tariff Threats
Cenovus Energy Inc. CVE CEO Jon McKenzie pushed back against recent anti-import rhetoric from U.S. President Donald Trump, asserting that the United States remains heavily dependent on Canadian oil despite political tensions. Speaking at an energy conference in Calgary, McKenzie emphasized the deep integration between the two countries' energy systems, even as Canada explores diversification options. Nearly 4 million barrels per day of Canadian oil are exported to the United States — a fact McKenzie used to counter Trump's repeated claims that the United States doesn't need to import oil and gas from Canada. McKenzie emphasized that Canada's oil industry is deeply integrated with the U.S. system, highlighting the geographic and logistical ties that make Canadian crude essential, especially for landlocked Midwest refineries designed to process heavier grades. McKenzie, who also chairs the Canadian Association of Petroleum Producers, stated that despite growing political friction, energy economics and infrastructure remain unchanged. Amid the backdrop of Trump's revived tariff threats and prime minister Mark Carney's new energy policy direction, McKenzie warned against retaliatory or short-sighted actions. He urged Ottawa to act in Canada's long-term interest, advocating for broad regulatory reform rather than government favoritism in project selection. McKenzie stressed the importance of avoiding reactive decisions in response to threats, noting that the energy sector prefers broad regulatory reform over government favoritism in selecting which projects to fast-track. Carney's administration, elected in April on a platform marked by anti-Trump sentiment, has pledged to fast-track nationally significant energy projects and elevate Canada's role as a "conventional and clean energy superpower." McKenzie agreed on the need to boost output but insisted policy support should come through improved regulatory clarity and investor confidence rather than selective subsidies. With OPEC+ shifting its focus from price control to market share, McKenzie sees an opportunity for Canadian producers to increase their global footprint — but only if domestic policy enables rather than hinders investment. The comments from Cenovus's chief highlight a broader challenge facing Canada's energy sector — balancing geopolitical tensions, internal policy shifts and long-term market realities. While diversification remains a priority, U.S. demand continues to anchor the Canadian oil export market, a fact unlikely to change soon, regardless of rhetoric from Washington. CVE currently carries a Zack Rank #5 (Strong Sell). Investors interested in the energy sector may look at some better-ranked stocks like Subsea 7 S.A. SUBCY, Energy Transfer LP ET and RPC Inc. RES. Subsea 7 presently sports a Zacks Rank #1 (Strong Buy), while Energy Transfer and RPC 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. Energy Transfer is poised to benefit from long-term fee-based commitments. It is also focused on expanding operations through organic and inorganic initiatives. The firm is looking for solutions to meet growing energy demands from additional demand centers through its pipeline network. Energy Transfer's systematic investments should boost its total fractionation capacity at Mont Belvieu and raise its top line. The Zacks Consensus Estimate for ET's 2025 EPS is pegged at $1.44. The company has a Value Score of A. RPC generates strong and stable revenues through a diverse range of oilfield services, including pressure pumping, coiled tubing and rental tools. The company is strongly committed to returning value to shareholders through consistent dividends and share buybacks. RPC's current dividend yield is higher than that of the composite stocks in the industry. Its new Tier IV dual-fuel fleet has boosted profits, with plans to further expand high-efficiency equipment to enhance operational capabilities. The Zacks Consensus Estimate for RES' 2025 EPS is pegged at 38 cents. The company has a Value Score of A. 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 Cenovus Energy Inc (CVE) : Free Stock Analysis Report Energy Transfer LP (ET) : Free Stock Analysis Report RPC, Inc. (RES) : Free Stock Analysis Report Subsea 7 SA (SUBCY) : 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
21-05-2025
- Business
- Yahoo
ConocoPhillips Awards FEED Study Contract to Subsea7 Offshore Norway
ConocoPhillips COP, a leading global exploration and production company, has hired Subsea7 SUBCY for conducting a front-end engineering and design (FEED) study offshore Norway. The new contract was awarded under a framework agreement between the two companies. ConocoPhillips Skandinavia has awarded the FEED study contract for the Previously Produced Fields (PPF) development project, and the work related to this project is slated to begin immediately. The FEED study will enable COP to determine and finalize the technical specifications for the associated subsea project. Further, the details of the development project will be assessed to make a final investment decision (FID). If an FID is reached and the project obtains the necessary approvals from the authorities, COP can exercise option under its current framework agreement with Subsea7 for a major subsea contract. By exercising the option, ConocoPhillips, the operator of this project, can proceed with the award of the subsea structures, umbilicals, risers, and flowlines (SURF) scope to Subsea7. The value of the contract is estimated to be between $300 million and $500 million. If an FID for the project is reached, then the offshore activities associated with the project will be slated for 2026-2029. The Previously Produced Fields are situated 290 kilometers to the southwest of Stavanger, Norway, in the Greater Ekofisk Area. The development will be tied back to the Ekofisk Complex. Subsea7 mentioned that it is excited to work with ConocoPhillips to deliver incremental value from the Greater Ekofisk Area and contribute to the final investment decision on the project. COP currently carries a Zacks Rank #5 (Strong Sell), while SUBCY sports a Zacks Rank #1 (Strong Buy). Some better-ranked stocks from the energy sector are Diversified Energy Company plc DEC and Expand Energy Corporation EXE, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here. Diversified Energy Company is an independent oil and natural gas producer in the United States. The company is primarily engaged in the production, transportation, and marketing of natural gas and natural gas liquids. The rising demand for natural gas as a cleaner-burning fuel, along with an uptick in the commodity's prices, is expected to positively impact the company's bottom line. Expand Energy is a leading U.S.-based natural gas producer formed through the merger of Chesapeake Energy Corporation and Southwestern Energy Company. Natural gas is expected to play an increasingly important role in the energy transition journey. Expand Energy is poised to benefit from the rising demand for natural gas as a cleaner-burning fuel. The recent rise in natural gas prices is also anticipated to positively impact EXE's profitability. 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 ConocoPhillips (COP) : Free Stock Analysis Report Diversified Energy Company PLC (DEC) : Free Stock Analysis Report Subsea 7 SA (SUBCY) : Free Stock Analysis Report Expand Energy Corporation (EXE) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
