Equinor(EQNR)
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EQNR's North Sea Wells Indicate Strong Potential for Carbon Storage
ZACKS· 2025-05-16 18:21
Core Insights - Equinor ASA has successfully drilled two appraisal wells in the North Sea, indicating potential for carbon dioxide storage [1][2][4] - The drilling operations utilized the DeepSea Stavanger rig, suitable for harsh environments, and the wells may support the Smeaheia carbon storage project [2][3] - Preliminary results from injection tests at both wells are positive, providing valuable data for future investment decisions [3] Company Developments - The wells 32/7-1 and 32/4-4 are the first drilled under exploration licence EXL 002, awarded in June 2022, and are part of efforts to evaluate commercial CO2 storage feasibility [4] - Equinor Low Carbon Solutions has highlighted the suitability of the reservoir for CO2 injection and storage [1][3] Industry Context - The drilling of these wells represents a significant step in the Norwegian Continental Shelf's exploration for commercial CO2 storage solutions [4] - The results from these wells will contribute to the broader energy transition and carbon management strategies within the industry [1][3]
Equinor Warns Europe of LNG Supply Strain Amid Asia Competition
ZACKS· 2025-05-15 13:00
Group 1: LNG Supply and Demand - Equinor ASA warns that Europe needs to offer competitive prices to attract sufficient LNG supplies, requiring about 30 billion cubic meters (bcm) to refill storage levels depleted by two-thirds after winter [1][4] - European buyers must outbid competitors like China and other Asian markets to secure the necessary LNG cargoes, emphasizing the critical role of pricing in the market [2][5] - A recent trade truce between the U.S. and China may reduce the resale of U.S. LNG cargoes to Europe, tightening the global LNG market [3] Group 2: Storage and Weather Considerations - Bjorland highlights the importance of achieving at least 85% gas storage capacity before winter to avoid vulnerabilities, warning that lower storage targets could increase energy security risks [4] - The European Parliament's decision to relax storage refill targets due to price inflation concerns may exacerbate these risks [4] Group 3: Future LNG Demand Growth - Equinor views Asia, particularly India, China, and Southeast Asia, as the strongest region for future LNG demand growth, strategically prioritizing LNG production to meet rising regional needs [5] - Amid growing competition and uncertain weather conditions, Europe must remain proactive on pricing to safeguard energy security and prevent potential shortfalls [5]
Equinor ASA: Ex. dividend fourth quarter 2024 today – OSE
Globenewswire· 2025-05-15 05:50
The shares in Equinor ASA (OSE: EQNR; NYSE: EQNR) will as from today be traded on the Oslo Stock Exchange exclusive the fourth quarter 2024 cash dividend as detailed below. Ex. date: 15 May 2025 Dividend amount: 0.37 Announced currency: USD This information is published in accordance with the requirements of the Continuing Obligations and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. ...
Equinor ASA: Minutes from the annual general meeting 2025
Globenewswire· 2025-05-14 18:33
On 14 May 2025, the annual general meeting in Equinor ASA (OSE: EQNR, NYSE: EQNR) approved the annual report and accounts for Equinor ASA and the Equinor group for 2024, as proposed by the board of directors. Further, the annual general meeting approved a cash dividend of US dollar (USD) 0.37 per share to be distributed for the fourth quarter of 2024. The fourth quarter 2024 dividend accrues to the shareholders as registered in Equinor's shareholder register with the Norwegian Central Securities Depository ...
Equinor: Stability For A Critical Commodity
Seeking Alpha· 2025-05-12 09:34
Company Overview - Equinor is a multinational oil company valued at over $60 billion, known for its reliable and diversified renewables portfolio alongside strong core operations in a geopolitically unstable environment [2]. Investment Strategy - The Value Portfolio focuses on building retirement portfolios through a fact-based research strategy, which includes thorough analysis of 10Ks, analyst commentary, market reports, and investor presentations [2].
Equinor Offloads Brazil's Peregrino Oil Field to PRIO for $3.5B
ZACKS· 2025-05-05 12:20
Equinor ASA (EQNR) , the Norwegian energy major, has signed a significant agreement to sell its 60% operated interest in Brazil's Peregrino oil field to PRIO Tigris Ltda., a subsidiary of Brazilian oil firm PRIO SA. The transaction, valued at up to $3.5 billion, marks a strategic move for Equinor as it repositions its portfolio in Brazil.Under the deal, PRIO will pay $3.35 billion to Equinor, along with a potential interest payment of up to $150 million. The final amount will be adjusted to reflect changes ...
Equinor sells the Peregrino field for USD 3.5 billion
Globenewswire· 2025-05-02 00:29
Core Insights - Equinor Brasil Energia Ltda. has agreed to sell its 60% operated interest in the Peregrino field to PRIO Tigris Ltda. for a total consideration of USD 3.35 billion, plus a maximum of USD 150 million in interest [1][8] - The transaction is structured in two parts: USD 2.233 billion for the acquisition of 40% and operatorship, and USD 951 million for the remaining 20%, with additional contingent payments [8] Company Strategy - The sale is part of Equinor's strategy to optimize its international portfolio through asset divestments and acquisitions, while still maintaining a strong presence in Brazil [4] - Equinor aims to increase its equity production in Brazil to nearly 200,000 barrels per day by 2030 through ongoing projects like Bacalhau and Raia gas [3] Operational Details - Equinor has operated the Peregrino field since 2009, producing approximately 300 million barrels of oil, with current production at around 55,000 barrels per day [5] - PRIO will take over operations after the transaction closes, with Equinor managing the field until that point [2][6] Future Outlook - Equinor continues to focus on its projects in Brazil, including the Bacalhau field and the Serra da Babilonia renewable hybrid project, indicating a commitment to growth in the region [7]
Equinor Misses Q1 Earnings Estimates, Expects '25 Output to Grow 4%
ZACKS· 2025-05-01 17:15
Core Viewpoint - Equinor ASA reported weaker-than-expected earnings for Q1 2025, with adjusted EPS of 66 cents, missing the consensus estimate of 83 cents, and a 32% decline from the previous year's 96 cents. However, total revenues increased to $29.92 billion from $25.14 billion year-over-year, surpassing the consensus estimate of $28.21 billion. The decline in earnings was attributed to lower production and weaker commodity prices [1]. Segmental Analysis - **E&P Norway**: Adjusted earnings rose to $7,453 million, a 29.5% increase from $5,756 million in the prior-year quarter, driven by higher gas prices despite lower production volumes [2]. - **E&P International**: Adjusted operating profit decreased to $531 million from $616 million year-over-year, impacted by lower liquid prices [4]. - **E&P USA**: Adjusted profit increased to $511 million, up 35.5% from $377 million in Q1 2024, supported by elevated gas prices and increased gas production [6]. - **Marketing, Midstream & Processing**: Adjusted earnings fell to $253 million, a significant drop of 71.5% from $887 million a year ago [7]. - **Renewables**: Reported an adjusted loss of $48 million, an improvement from a loss of $70 million in the previous year, due to reduced operating and administrative costs [8]. Production and Cash Flow - Average daily production of liquids and gas decreased by 5% to 1,390 thousand barrels of oil equivalent per day (MBoe/d) from 1,462 MBoe/d in the prior-year quarter, due to natural depletion and maintenance activities [3]. - Average daily equity production declined by 12.2% to 309 MBoe/d from 352 MBoe/d, affected by natural declines and asset divestments, although partially offset by new wells [5]. - Equinor generated a net cash flow of $2,086 million in the March-end quarter, compared to a free cash flow of $125 million in the year-ago period [9]. Financial Position - As of March 31, 2025, Equinor reported cash and cash equivalents of $7,370 million and long-term debt of $22,737 million [10]. Outlook - For 2025, Equinor anticipates a 4% year-over-year growth in oil and gas production and has set an organic capital spending budget of $13 billion. The company aims to keep unit production costs within the top 25% of its peer group, with planned maintenance expected to reduce equity production by approximately 30 thousand barrels of oil equivalent per day throughout the year [11].
Equinor(EQNR) - 2025 Q1 - Quarterly Report
2025-04-30 11:09
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of April 2025 Commission File Number 1-15200 Equinor ASA (Translation of registrant's name into English) FORUSBEEN 50NO-4035 , STAVANGER, Norway (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20- ...
Equinor to commence second tranche of the 2025 share buy-back programme
Globenewswire· 2025-04-30 04:48
Core Viewpoint - Equinor is set to commence the second tranche of its share buy-back program for 2025, amounting to up to USD 1,265 million, following the annual general meeting on May 14, 2025 [1][2][3] Group 1: Share Buy-Back Program Details - The second tranche will involve purchasing shares worth up to USD 417.5 million in the market, contributing to the total of USD 1,265 million, which includes shares to be redeemed from the Norwegian State [2][3] - The share buy-back program for 2025 is part of a larger initiative announced in February 2025, with a total budget of up to USD 5 billion for the two-year period of 2024-2025 [3][5] - The execution of the second tranche is contingent upon board authorization and an agreement with the Norwegian State regarding the share buy-back [1][4][7] Group 2: Execution and Regulations - The maximum number of shares that can be purchased in the second tranche is 84 million, with a minimum price of NOK 50 and a maximum price of NOK 1,000 per share [6] - Shares will be purchased on the Oslo Stock Exchange and potentially other trading venues within the EEA, adhering to applicable regulations [8] - The board will propose to cancel the shares purchased in this tranche at the annual general meeting in May 2026, along with a proportionate number of shares from the Norwegian State [9]