Equinor notes that the two wells, 32/7-1 and 32/4-4, could potentially serve as a carbon storage unit for its Smeaheia project.
Equinor's diversified portfolio, including strong core oil operations and growing renewables, supports its ability to drive long-term shareholder returns despite geopolitical instability. The company reported $8.6 billion in operating income and $2.6 billion in net income for 1Q 2025, maintaining a single-digit P/E ratio. Equinor's commitment to shareholder returns is evident with a $9 billion capital distribution for 2025, combining a 6.5% dividend yield and buybacks.
EQNR divests its Peregrino stake to Prio for $3.5 billion. Despite the exit, Equinor says that it remains committed to Brazil with strong growth targets in Bacalhau, Raia and Roncador.
Lower productions across major segments and weaker commodity prices hurt EQNR's earnings in Q1.
Equinor ASA (NYSE:EQNR ) Q1 2025 Earnings Conference Call April 30, 2025 5:30 AM ET Company Participants Bard Glad Pedersen - SVP, IR Jannicke Nilsson - EVP, Safety, Security & Sustainability Torgrim Reitan - EVP and CFO Anders Opedal - President and CEO Irene Rummelhoff - EVP, MMP Conference Call Participants Teodor Sveen Nilsen - SpareBank 1 Markets Biraj Borkhataria - RBC John Olaisen - ABG Peter Low - Redburn Yoann Charenton - Bernstein Matt Lofting - JPMorgan Chris Kuplent - Bank of America Merrill Lynch James Carmichael - Berenberg Martijn Rats - Morgan Stanley Jason Gabelman - TD Cowen Paul Redman - BNP Paribas Operator Good day, and welcome to the Equinor Analyst Call First Quarter Results. [Operator Instructions].
Equinor on Wednesday said it believes the decision of U.S. President Donald Trump's administration to halt the construction of a multi-billion dollar offshore wind power project is unlawful and that the group may take legal action.
Equinor reported a stronger than expected rise in its first-quarter profit on Wednesday, boosted by a jump in European gas prices from the same period of last year.
Equinor's strong fundamentals and competitive advantage as Europe's primary gas supplier make it a top choice for integrated Oil & Gas stocks. The company smartly reinvests substantial O&G profits into green transition initiatives, aligning with Norway's renewable energy goals. Despite falling crude prices, Equinor remains undervalued with a low EV/EBITDA ratio and strong profitability metrics, making it a strong buy.
With NOK 142.6B spent and 85K jobs created in 2024, EQNR plans 250 new wells and 75 subsea projects on the Norwegian Continental Shelf by 2035.
Equinor's Johan Castberg oilfield in the Arctic Barents Sea began production on Monday after several delays, and is expected to repay its 86 billion Norwegian crown ($8.14 billion) price tag in less than two years, the company said.
EQNR secures approval to drill the Lit prospect in the North Sea using Odfjell Drilling's Deepsea Atlantic rig, strengthening its offshore energy expansion.
EQNR strengthens its green energy push with the 95 MW Lyngsasa wind farm acquisition, increasing its renewable power generation in Sweden.