Equinor ADR


SKU: EQNR-1 Category:


Equinor delivered a mixed set of results in its most recent result with revenues above Wall Street expectations but below-par earnings. The company is pleased to see strong operational performance and is scheduled to achieve a 3% output increase in 2023. There has been no deferral of gas volumes this quarter as they continue to produce a lot of gas from the Norwegian Continental South for Europe. Their safety performance is on the rise across a number of fronts. Equinor also produced a lot of oil and gas this quarter, averaging 2,130,000 barrels per day, which is 1% more than the productive first quarter of last year. Production growth is being boosted this quarter by the addition of Johan Sverdrup Phase 2 and Peregrino, as well as the restart of Snohvit and Caesar Tonga. The Midstream and Marketing segment had strong results. In addition, Equinor has made the final investment decision in partnership with Repsol Sinopec Brasil and Petrobras to develop the BM-C-33 project. This will be the country’s first initiative of its kind, as it will treat the gas offshore and connect it to the national grid without any additional onshore processing. We maintain our ‘Buy’ rating on  Equinor ASA with a revised target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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