Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Oslo Bors  >  Equinor    EQNR   NO0010096985

EQUINOR (EQNR)
Mes dernières consult.
Most popular
  Report  
Real-time Quote. Real-time Cboe Europe - 06/20 05:29:59 pm
210.25 NOK   -1.94%
02:13pEQUINOR : Notifiable trading
AQ
02:13pPETROBRAS : and Equinor conclude strategic partnership agreements in..
AQ
02:13pPETROLEO BRASIL : Equinor completes acquisition of 25% interest in B..
AQ
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets
OFFRE ETE Zonebourse : Jusqu'à 6 mois offerts sur tous les portefeuilles

Statoil Launches New Rig In Attempt To Boost Output, Cut Costs

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/17/2012 | 06:34pm CEST
   By Katarina Gustafsson 
   Of  
 

Statoil ASA (STO) Tuesday announced it has launched a new type of oil rig, as the Norwegian petroleum giant aims to boost the recovery rates from subsea wells.

Statoil has made some major discoveries of late, yet the Scandinavian nation's oil output has been declining and has dropped by 1.3 million barrels per day since its peak in 2001.

Statoil--the largest player on the Norwegian continental shelf-- last year increased the average oil recovery rate from its fields to 50% from 49%. A Statoil executive declined to estimate in percentage terms how much additional petroleum could be recovered with the new rig, which is expected to come into force in 2015.

"We think we can take out at least 180 million extra barrels when we use this rig," Margareth Ovrum, head of technology, projects and drilling at Statoil told Dow Jones Newswires.

The new rig is specifically made for subsea installations where the recovery rate is significantly lower than for wells from fixed installations. Statoil operates around 500 subsea wells and the company has been looking at a way to increase recovery from these since around the turn of the millennium, Ovrum said, adding that the rig is the only one of its kind in the world.

Statoil said the category-B rig fills the gap between light intervention vessels and conventional rigs as it is specially designed to carry out well intervention and drilling operations in existing subsea wells.

Statoil estimates that the new rig--which the company has developed together with Norwegian oil services supplier Aker Solutions ASA (AKSO.OS) from which it is hiring the rig--will reduce operating costs for well interventions by as much as 40%. Aker's contract of eight years, with options for three further two-year periods, will provide Aker with at least $1.9 billion.

"I think there will be more rigs like this going forward, if this works out well," Ovrum said.

-By Katarina Gustafsson, Dow Jones Newswires +46-8-5451-3097; [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
AKASTOR ASA 4.64% 18.5 Delayed Quote.7.80%
EQUINOR -0.37% 213.6 Delayed Quote.23.40%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on EQUINOR
05:30pEQUINOR : Awarding Drilling & Well Service Contracts Worth NOK 30 billion
AQ
05:11pSCATEC SOLAR : Equinor Enters Solar Project in Argentina
AQ
05:11pEQUINOR : Awards Light Well Intervention Contract to Akofs
AQ
04:40pSCATEC SOLAR : secures a 117 MW solar project in Argentina together with Equinor
AQ
02:13pEQUINOR : Notifiable trading
AQ
02:13pPETROBRAS : and Equinor conclude strategic partnership agreements in the Roncado..
AQ
02:13pPETROLEO BRASILEIRO PETROBRAS : Equinor completes acquisition of 25% interest in..
AQ
10:28aEquinor and Microsoft in Cloud-Services Partnership Deal
DJ
09:08aEQUINOR : partners with Microsoft for cloud services delivered from new cloud da..
PU
06/19EQUINOR : Awards Contracts, Gets Licences
AQ
More news
News from SeekingAlpha
10:13aMicrosoft announces two datacenter regions in Norway, Equinor agreement 
06/19The Daily Drilling Report Recaps The Week That Was 
06/18REUTERS : Vitol-led group in talks to buy Nigeria assets from Petrobras 
06/18Equinor snares seven licenses on Norway's Continental Shelf 
06/18Equinor awards $3.7B in deals to Baker Hughes, Halliburton, Schulumberger 
Financials ($)
Sales 2018 76 579 M
EBIT 2018 18 025 M
Net income 2018 5 649 M
Debt 2018 14 242 M
Yield 2018 3,50%
P/E ratio 2018 15,16
P/E ratio 2019 14,63
EV / Sales 2018 1,34x
EV / Sales 2019 1,32x
Capitalization 88 379 M
Chart EQUINOR
Duration : Period :
Equinor Technical Analysis Chart | EQNR | NO0010096985 | 4-Traders
Technical analysis trends EQUINOR
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 29
Average target price 26,9 $
Spread / Average Target 2,7%
EPS Revisions
Managers
NameTitle
Eldar Sætre President & Chief Executive Officer
Jon Erik Reinhardsen Chairman
Jannicke Nilsson Chief Operating Officer & Executive Vice President
Hans Jacob Hegge Chief Financial Officer & Executive Vice President
Margareth Øvrum Executive VP-Technology, Projects & Drilling
Sector and Competitors
1st jan.Capitalization (M$)
EQUINOR23.40%88 379
ROYAL DUTCH SHELL4.86%287 968
PETROCHINA COMPANY-4.20%209 917
TOTAL12.48%161 376
ENI11.96%65 338
NK ROSNEFT' PAO--.--%64 263