Petrobras (PBR) Awards 5-year Service Contract to Weatherford
Petrobras (PBR), the state-owned oil and gas company of Brazil, awarded a five-year contract to Weatherford International (WFRD), an oilfield service provider, for providing intervention services offshore Brazil.
Weatherford, in close cooperation with Petrobras, has been providing subsea intervention and commissioning services in the country for more than 20 years. In order to further improve this offering, the U.S. player will provide its digitalization solution, the Centro well construction optimization platform that provides better visibility and performance during operations.
According to the president and CEO of Weatherford, Girish Saligram, the legacy of collaboration to increase Petrobras’ assets lifespan while lowering non-productive time will be further enhanced through WFRD’s cutting-edge digitalization offering.
Recently, PBR reached a milestone with the sale of the P-32 FPSO to Gerdau and the Ecovix shipyard last week for recycling. This will be the first commercial vessel to be dismantled in Brazil at the end of its lifecycle.
Zacks Rank & Key Picks
Currently, Petrobras carries a Zack Rank #3 (Hold).
A couple of better-ranked stocks for investors interested in the energy sector are Evolution Petroleum Corporation EPM and NGL Energy Partners LP NGL. While Evolution Petroleum sports a Zacks Rank #1 (Strong Buy), NGL Energy Partners carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Evolution Petroleum is an independent energy company. It was formed to acquire and develop oil and gas fields and apply both conventional and specialized technology to accelerate production, particularly in low-permeability reservoirs. EPM has witnessed an upward earnings estimate revision for 2023 and 2024 in the past 60 days.
NGL Energy Partners, headquartered in Tulsa, OK, is a limited partnership operating a vertically-integrated propane business with three operating segments — retail propane, wholesale supply and marketing, and midstream. NGL has witnessed an upward earnings estimate revision for 2024 in the past 60 days.
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Petroleo Brasileiro S.A.- Petrobras (PBR) : Free Stock Analysis Report
NGL Energy Partners LP (NGL) : Free Stock Analysis Report
Evolution Petroleum Corporation, Inc. (EPM) : Free Stock Analysis Report
Weatherford International PLC (WFRD) : Free Stock Analysis Report
