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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Equinor ASA    EQNR   NO0010096985

EQUINOR ASA

(EQNR)
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Equinor Makes Gas Discovery in the North Sea

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07/08/2020 | 02:57am EDT

By Dominic Chopping

 

Equinor ASA said Wednesday that it and its license partners Source Energy AS and Wellesley Petroleum AS have made a gas and condensate discovery in the North Sea of between 19 million and 63 million barrels of oil equivalent.

"It is encouraging to see that we are able to keep proving more resources in one of the most mature areas on the Norwegian continental shelf," said Nick Ashton, Equinor's senior vice president for exploration in Norway and the U.K.

"Now we will work on evaluating the potential for profitable and CO2 efficient recovery."

The discovery at exploration well 30/2-5 S Atlantis on the Kvitebjorn field has proven reserves of between 3 million and 10 million standard cubic meters of recoverable oil equivalent based on preliminary estimates.

The license owners of the production license are Equinor Energy AS with 60%, Source Energy with 20% and Wellesley Petroleum AS with 20%. They will now consider whether to pursue the discovery in an overall assessment of the area.

 

Write to Dominic Chopping at dominic.chopping@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
EQUINOR ASA -2.41% 145.7 Delayed Quote.-14.47%
LONDON BRENT OIL -0.53% 44.93 Delayed Quote.-31.35%
SOURCE ENERGY SERVICES LTD. 5.26% 0.1 Delayed Quote.-60.42%
WELLESLEY CORPORATION LIMITED 0.00% 7 End-of-day quote.0.00%
WTI -0.52% 42.2 Delayed Quote.-30.68%
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Financials (USD)
Sales 2020 42 660 M - -
Net income 2020 -347 M - -
Net Debt 2020 19 293 M - -
P/E ratio 2020 -217x
Yield 2020 3,62%
Capitalization 53 429 M 53 328 M -
EV / Sales 2020 1,70x
EV / Sales 2021 1,33x
Nbr of Employees 21 412
Free-Float 30,0%
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Technical analysis trends EQUINOR ASA
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 16,88 $
Last Close Price 16,40 $
Spread / Highest target 42,7%
Spread / Average Target 2,95%
Spread / Lowest Target -28,3%
EPS Revisions
Managers
NameTitle
Eldar Sætre President & Chief Executive Officer
Jon Erik Reinhardsen Chairman
Jannicke Nilsson Chief Operating Officer
Lars Christian Bacher Chief Financial Officer & Executive Vice President
Anders Opedal Executive VP-Technology, Projects & Drilling
Sector and Competitors
1st jan.Capitalization (M$)
EQUINOR ASA-14.47%55 083
SAUDI ARABIAN OIL COMPANY-4.96%1 785 477
ROYAL DUTCH SHELL PLC-49.67%121 186
PETROCHINA COMPANY LIMITED-30.69%111 651
TOTAL SE-31.91%105 689
GAZPROM-24.73%62 882