Equinor (EQNR) and DNO advance Heisenberg discovery in the North Sea

n n n ‘. concat(e. i18n. t(“search. voice. recognition_retry”),’n

Equinor ASA EQNR, the Norwegian state-owned energy giant, and DNO, a compatriot oil and gas operator, have effectively completed an assessment and diversion to better delineate Heisenberg’s oil and gas discovery made in 2023.

Heisenberg’s discovery, licensed PL827SB in the northern Norwegian North Sea, represents a shallow new domain with promising potential. Following the final touch of assessment activities, Heisenberg’s recoverable volumes are expected to be between 24 and 56 million barrels of oil equivalent (MMboe). ), with an average estimate of 37 MMboe. The appraisal well and diversion operation led to the discovery of tar sands at the deepest secondary target, Hummer, according to DNO.

Equinor and DNO are now conducting additional exploration activities, with the goal of drilling a well in the second quarter of this year to explore a deeper prospect called Angel as they proceed to narrow down the Heisenberg discovery to the west.

Located close to major North Sea hubs such as Troll B, Kvitebjørn and Gjøa, the first two of which are operated through Equinor, Heisenberg is of strategic importance. Its proximity to these centers positions it for eventual connection developments, facilitating effective production operations.

In light of the recent successes of exploration activities, specifically in the North Sea region, talks are underway to accelerate Heisenberg’s advancement. This breakthrough is part of a broader strategy to capitalize on recent discoveries in the region. In particular, DNO has a stake in several recent discoveries, adding to the Carmen discovery made last year.

Commenting on those developments, Bijan Mossavar-Rahmani, DNO’s executive chairman, highlighted the shift in focus towards quality discoveries and the upcoming desire for production. This underscores the strategic imperative of making a successful transition from exploration to production phases, leveraging the perspective of discoveries like Heisenberg to contribute to the company’s overall portfolio.

Equinor has a Zack Rank #4 (Sell) lately.

Some top-ranked stocks in the energy sector include Sunoco LP SUN, Murphy USA Inc. , MUSA, and Energy Transfer LP ET. While Sunoco and Murphy USA are ranked No. 1 by Zacks (strong buy), Energy Transfer lately has a No. 2 (buy). You can see the full list of today’s No. 1 Zacks rank stocks here.

Sunoco is one of the largest suppliers of automotive fuel in the U. S. wholesale market. U. S. by volume. By distributing more than 10 fuel brands through 10,000 retail outlets under long-term distribution contracts, the partnership will continue to generate a solid cash flow.

Zacks’ consensus estimate for SUN earnings by constant percentage (EPS) for 2024 is set at $4. 96. The stock has seen upward revisions to earnings estimates for 2024 and 2025 over the past seven days.

Murphy USA is one of the leading independent stores of automotive fuel and convenience products in the United States.

The Zacks consensus estimate for MUSA 2024 EPS is pegged at $26. 32. The company has a Zacks-style rating of B for expansion and B for value. Earnings estimates have been revised up for 2024 and 2025 over the past seven days.

Energy Transfer is a publicly traded limited company focused on energy assets in the United States. The company’s core businesses are vegetable fuel intermediate services, transportation, storage, crude oil services, and marketing assets.

Zacks’ consensus estimate for TEQ’s earnings per unit in 2024 is pegged at $1. 44. The company has noted upward revisions to its 2024 earnings estimates over the past 30 days. ET earnings for 2024 are expected to increase by as much as 32. 1% annually. in the year.

Want the latest recommendations from Zacks Investment Research?Today you can download the 7 stocks for the next 30 days. Click for this free report

Leave a Comment Cancel Reply