|Bid||7.84 x 3000|
|Ask||10.70 x 3000|
|Day's Range||0.00 - 0.00|
|52 Week Range|
|Beta (3Y Monthly)||4.44|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 29, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||11.96|
The Zacks Analyst Blog Highlights: Callon Petroleum, Carrizo Oil & Gas, McDermott International and Occidental Petroleum
Shale producer Callon Petroleum (CPE) agreed to buy smaller E&P player Carrizo Oil & Gas (CRZO) for $3.2 billion, while McDermott International (MDR) clinched twin contracts from Saudi Aramco.
The value of McDermott's (MDR) latest FEED contract, which is expected within $1-$50 million, is going to be reflected in second-quarter 2019 backlog.
The value of McDermott's (MDR) latest FEED contract, which is expected within $1-$50 million, will be reflected in second-quarter 2019 backlog.
HOUSTON , July 15, 2019 /PRNewswire/ -- McDermott International, Inc. (NYSE:MDR) will report financial results for the second quarter of 2019 on Monday, July 29, 2019 after the close of the U.S. markets. ...
HOUSTON, July 15, 2019 /PRNewswire/ -- McDermott International, Inc. (MDR) announced it has been awarded a sizeable* contract by Total Oman E&P Development B.V. in partnership with Oman Oil Company S.O.A.C. to provide front-end engineering design (FEED) services for the Sohar LNG Bunkering Project in Oman. This project is intended to establish Oman as a regional LNG bunkering hub capable of supplying LNG as a fuel to marine vessels.
The Houston company's $3 billion and $1.5 billion EPCI offshore contracts were the largest Saudi Aramco awarded for the Marjan increment development program.
- Plant utilizes Lummus CATOFIN® technology and catalyst provided by Clariant - World's largest catalytic dehydrogenation unit, located at Hengli Petrochemical (Dalian) Refinery Co., Ltd.'s site in Liaoning ...
HOUSTON, July 11, 2019 /PRNewswire/ -- McDermott International, Inc. (MDR) announced it has been awarded a sizeable* contract by Qatar Petroleum (QP) to carry out front-end engineering and design (FEED) work for offshore wellhead platforms, pipelines and cables associated with the North Field Expansion (NFE) project. The FEED contract will be executed from McDermott's Doha offices, with drafting to be executed in Chennai. Work on the project will begin immediately, and the contract award will be reflected in McDermott's second quarter 2019 backlog.
About 53 percent of oil production and 45 percent of natural gas production in the Gulf of Mexico has been shut down.
McDermott shares moved sharply higher as its backlog continues to grow, but traders will be closely watching these key levels.
The largest change — a 20,100-person increase — was thanks to a multibillion-dollar acquisition that closed in 2018.
HOUSTON, July 10, 2019 /PRNewswire/ -- McDermott International, Inc. (MDR) announced it has been awarded a contract in excess of $1.5 billion for Package 4 of Saudi Aramco's Marjan Increment Development Project to provide engineering, procurement, construction and installation (EPCI) of offshore gas facilities and pipelines. Marjan Package 4 represents the second largest EPCI offshore contract awarded by Saudi Aramco in the Marjan Increment Development Project.
- Award represents the single largest EPCI offshore contract awarded by Saudi Aramco - Project includes EPCI of a gas-oil separation platform, compression and accommodation facilities - McDermott leads ...
(Bloomberg) -- Saudi Aramco, the world’s largest crude exporter, awarded $18 billion in contracts to boost output capacity at two offshore oil fields even as the kingdom and its OPEC partners restrict production.Saudi Arabia’s state oil company will add a combined 550,000 barrels a day of crude-production capacity at its Marjan and Berri fields, it said Tuesday in a statement. It will raise capacity for natural gas output at the deposits by 2.5 billion standard cubic feet a day. Aramco awarded 34 contracts, with half of them going to Saudi firms, according to the statement.McDermott International Inc., Saipem SpA of Italy, Norway-listed Subsea 7 SA, Tecnicas Reunidas SA of Spain and China Petroleum & Chemical Corp. were among the companies that won contracts, according to a photo that Aramco provided of the signing ceremony. India’s Larsen & Toubro Ltd. and Hyundai Engineering & Construction Co. of South Korea also secured deals.The statement itself didn’t identify the 16 companies that were awarded contracts, nor did it specify when the Marjan or Berri projects would be completed.Spare CapacityAramco, known officially as Saudi Arabian Oil Co., plans to bring about 1 million barrels a day of oil capacity online by 2023 in order to compensate for reductions at some other fields. Aramco plans to maintain production capacity of 12 million barrels a day even though it regularly pumps about 10 million barrels daily.Saudi Arabia, with the world’s biggest reserves of conventional crude, has long drawn on its prolific deposits to help balance global oil markets. Riyadh seeks to keep some spare capacity ready and available for rapid use in order to respond quickly to any shortages. The Organization of Petroleum Exporting Countries and allies including Russia agreed this month to extend production cuts into 2020 to try to prop up prices amid surging U.S. supplies.“These two programs will significantly enhance Saudi Aramco’s oil production and gas processing capabilities,” Chief Executive Officer Amin Nasser said in the statement. The field expansions will help meet “growing long-term demand for petroleum,” he said.Marjan’s development will add capacity of 300,000 barrels a day of Aramco’s Arabian Medium crude blend, according to the statement. The Berri project will contribute 250,000 barrels a day of additional capacity for Arabian Light crude. Aramco produces more Arabian Light than any other grade.(Updates with names of contract winners in third paragraph.)To contact the reporter on this story: Anthony DiPaola in Dubai at firstname.lastname@example.orgTo contact the editors responsible for this story: Nayla Razzouk at email@example.com, Bruce Stanley, Mohammed Aly SergieFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
HOUSTON, July 5, 2019 /PRNewswire/ -- McDermott International, Inc. (MDR) today announced it and its joint venture member Chiyoda have reached an agreement with Cameron LNG related to the construction of its LNG liquefaction project in Louisiana. "Over the past year, we have further strengthened our relationship with Cameron LNG and our leadership, oversight, execution, forecasting and reporting on the project. In the last few months, the joint venture project team has made tremendous progress, including first liquid and first cargo from Train 1," said Samik Mukherjee, Group Senior Vice President, Projects.
HOUSTON, July 2, 2019 /PRNewswire/ -- McDermott International, Inc. (MDR) today announced it has completed the first of two offshore campaigns for Reliance Industries Ltd. KG-D6 R-Cluster subsea field development, in the Krishna Godavari Basin, located off the East Coast of India. The campaign included McDermott's piggy-back pipelay in S-lay mode (18-inch plus a 4-inch) offshore in India in approximately 4,265 feet (1,300 meters) water depth and the installation of 6-inch lines, PLETs and manifolds to water depths of approximately 6,300 feet (1,920 meters). McDermott used its derrick lay vessel, DLV 2000 to perform its first S-lay piggy-back pipelay.
HOUSTON, July 1, 2019 /PRNewswire/ -- McDermott International, Inc. (MDR) today provided an update on its asset sale process. The company has completed the sale of Alloy Piping Products (APP), the distribution and manufacturing arm of its U.S. pipe fabrication business. McDermott continues to pursue a sale of the remaining portion of the U.S. pipe fabrication business, with an objective of concluding a transaction by the end of the third quarter of 2019.
The contract includes the full suite of EPCI services for the relocation of Control Rooms in Zuluf GOSP-4, Marjan GOSP 2 and 3 including the fabrication of new control rooms, boat landings and new jacket members, as well as the upgrade of all control systems as required. "McDermott's extensive history with Saudi Aramco and our commitment to the continued growth of Saudi Arabia's energy sector is reflected in this award," said Linh Austin, McDermott's Senior Vice President, Middle East and North Africa.
While the market driven by short-term sentiment influenced by the accomodative interest rate environment in the US, increasing oil prices and optimism towards the resolution of the trade war with China, many smart money investors kept their cautious approach regarding the current bull run in the first quarter and hedging or reducing many of their […]