Yahoo Finance Subsea7 (SUBCY) Secures Major Contract in US Gulf of Mexico
Subsea7 SUBCY has secured a sizeable contract in the U.S. Gulf of Mexico. Per the company, the contract’s value lies between $50 million and $150 million. SUBCY will be responsible for the engineering, procurement, construction, and offshore installation of a water injection flowline, hull piping and the related subsea infrastructure, per the terms of the agreement.
The company has stated that its Houston office will take over the project management and engineering tasks. The offshore work is scheduled to begin in 2026.
In July 2024, Subsea7 secured a sizeable contract for the Murlach development in the UK North Sea region. The contract, which was awarded to the Subsea Integration Alliance by BP, marks a milestone for the former as it is its third project with BP in the UK North Sea market.
Zacks Rank and Key Picks
Currently, SUBCY carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the energy sector are SM Energy SM, The Williams Companies Inc. WMB and MPLX LP MPLX. SM Energy presently sports a Zacks Rank #1 (Strong Buy), while The Williams Companies and MPLX carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
SM Energy is an upstream energy firm operating in the prolific Midland Basin and the South Texas regions. For 2024, the company expects its production to increase from the prior-year reported figure, signaling a bright production outlook.
The Williams Companies is a premier energy infrastructure provider in North America. The company’s core operations include finding, producing, gathering, processing, and transporting natural gas and natural gas liquids. Boasting a widespread pipeline system of more than 33,000 miles, Williams is one of the largest domestic transporters of natural gas by volume.
MPLX LP owns and operates a wide range of midstream assets. The partnership's midstream assets include oil and natural gas gathering systems and transportation pipelines for crude, natural gas and refined petroleum products. MPLX is least exposed to commodity price fluctuations as it generates stable fee-based revenues. Furthermore, it surpasses its industry peers in terms of distribution yield, reflecting its commitment to returning capital to its unitholders.
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Williams Companies, Inc. (The) (WMB) : Free Stock Analysis Report
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