Equinor (EQNR) & Nauticus Team up for Subsea Leak Detection
Equinor ASA EQNR chose Nauticus Robotics, Inc. KITT to utilize Nauticus’ proprietary technology for its leak detection services.
Equinor will start testing the use of autonomous robots for detecting subsea leaks in the North Sea. The pilot project aims to develop applications for autonomous subsea robots and meet the demand for better leak detection technology.
Nauticus develops ocean robots and artificial intelligence for autonomous services to the marine sectors. The latest deal intends to prove and qualify Nauticus’ leak detection technology using autonomous robots.
Beside a stand-alone service offering and products, Nauticus’ approach to ocean robotics resulted in the development of a range of technology products for upgrading legacy systems and other third-party vehicle platforms.
Equinor operates 600 undersea wells, and 9,000 kilometers of subsea cables, risers and pipelines. The company has been exploring opportunities to enhance its capabilities to keep the environment safe. Sustainability is a core element for Equinor and having systems for leak detection is one of them.
The deal will also help Nauticus qualify for Equinor’s future contracts. The project reflects the importance of Nauticus’ fleet offering and the increasing demand for technologies to address challenges for subsea operations in Norway and worldwide.
Equinor awarded two contracts for its operations on the Norwegian Continental Shelf. Equinor selected ocean services provider DeepOcean to support the Troll B Gas Export project in the northern part of the North Sea. Ocean Installer received the second contract for the Northern Lights CO2 Pipeline, the Visund, Vigdis and Asgard fields.
Headquartered in Stavanger, Norway, Equinor is one of the premier integrated energy companies in the world. The company’s key strategy is to capitalize on the renewable energy space and align operations with the Paris Climate Agreement.
Equinor currently carries a Zack Rank #4 (Sell).
Some better-ranked players in the energy sector are Core Laboratories N.V. CLB and Sunoco LP SUN, currently carrying a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Core Labs’ strong presence in the emerging shale plays and its global footprint will provide for steady growth rates, going forward. CLB’s technology-heavy portfolio of proprietary products and services gives it the opportunity to optimize production from new and existing fields.
Core Labs has witnessed upward earnings estimate revision for 2023 and 2024 in the past 30 days. The consensus estimate for CLB’s 2023 and 2024 earnings per share is pegged at 88 cents and $1.17, respectively.
Sunoco is among the biggest motor fuel distributors in the United States wholesale market in terms of volumes. For 2023, the partnership expects adjusted EBITDA of $865-$915 million.
Over the past 30 days, Sunoco has witnessed upward earnings estimate revisions for 2023 and 2024, respectively. The Zacks Consensus Estimate for SUN’s 2023 and 2024 earnings per share is pegged at $4.37 and $3.81, respectively.
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Core Laboratories Inc. (CLB) : Free Stock Analysis Report
Sunoco LP (SUN) : Free Stock Analysis Report
Equinor ASA (EQNR) : Free Stock Analysis Report
Nauticus Robotics, Inc. (KITT) : Free Stock Analysis Report
