Equinor, partners to spend $1.1B to further develop Oseberg North Sea field

  • Equinor (NYSE:EQNR) says it plans to spend 10B kroner (~$1.1B) with its partners to further develop the Oseberg field in the North Sea from being primarily an oil field to becoming a gas producer.
  • The company says it has submitted an amended plan for development and operation to Norway's energy ministry with the aim of reducing carbon emissions from the Oseberg Field Centre and the Oseberg South platform while increasing gas production.
  • Oseberg's oil production is in the late phase, but Equinor says 60% of the field's gas resources remain untapped and it expects Oseberg to produce more than 100B scm of gas toward 2040.
  • Equinor operates the field and owns a 49.3% stake, with Petoro holding 33.6%, TotalEnergies (NYSE:TTE) 14.7% and ConocoPhillips (NYSE:COP) 2.4%.

    Over the current book year the company from Houston's total revenue could be around 43.96 billion USD (consensus estimates). This is hugely more than 2021's revenue of 18.78 billion USD.

    Historical revenues and results ConocoPhillips plus estimates 2021

    koersdata

    The analysts expect for 2021 a net profit of 7.46 billion USD. For this year most of the analysts expect a profit per share of 5.86 USD. Based on this the price/earnings-ratio is 12.2.

    Analysts expect a dividend of 1.74 USD per share. The dividend yield is then 2.43 percent. The average dividend yield of the energy companies is an attractive 2.96 percent.

    ConocoPhillips 's market capitalization is around 77.55 billion USD. 72

    On Friday the stock closed at 71.48 USD.

    Historical stock prices ConocoPhillips

    stock prices conocophillips

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