Core Insights - Equinor ASA has received approval from the Norwegian Offshore Directorate to drill a wildcat well in the Barents Sea, specifically wellbore 7117/4-1, which is part of Production License 1238 [1][7] - The company holds a 40% working interest in the license, with partners Vår Energi, Petoro, and Aker BP each holding a 20% interest [1][7] - The drilling will be conducted using the COSL Prospector rig, which is capable of operating in harsh environments and can drill at water depths of up to 1500 meters and a maximum depth of 7,500 meters [2] Company Rankings and Comparisons - Equinor currently holds a Zacks Rank of 3 (Hold) [3] - Other energy sector companies with better rankings include Flotek Industries (Zacks Rank 1), Oceaneering International, and RPC, both with Zacks Rank 2 [3] - Flotek Industries focuses on green chemistry solutions to reduce environmental impact and operational costs for energy producers [4] - Oceaneering International provides integrated technology solutions across the offshore oilfield lifecycle, supporting revenue growth through innovative solutions [5] - RPC offers a diverse range of oilfield services and is committed to returning value to shareholders through dividends and share buybacks [6]
Equinor to Drill New Wildcat Well in PL 1238 in the Barents Sea