Equinor ASA (EQNR), the Norwegian state-owned energy giant, has exercised an option to keep two DOF Group platform supply vessels, Skandi Flora and Skandi Mongstad, in active service through October 2026, further cementing a productive partnership that spans several years of North Sea operations.
The 2009-built Skandi Flora, with its track record on long-term North Sea contracts, and the 2008-built Skandi Mongstad, designed for oilfield logistics and supply, will remain under Equinor’s charter, with another renewal option available for 2026.
DOF’s relationship with Equinor extends to integrated subsea and support projects across Norway, including inspection, maintenance, repair, and anchor handling contracts awarded in recent years. This reflects Equinor’s strategy to maintain reliable offshore capacity with experienced Norwegian operators.
The latest extension follows DOF’s win of two multi-year anchor handling deals, worth over $220 million, with Petrobras, highlighting persistent industry demand for versatile support vessels from companies operating in both the North Sea and international markets.
The ongoing vessel partnership ensures operational continuity for Equinor as North Sea activity remains robust, while DOF secures firm backlog and leverages its fleet presence in core regions.
EQNR’s Zacks Rank and Key Picks
EQNR currently carries a Zacks Rank #3 (Hold).
Investors interested in the energy sector may look at a couple of better-ranked stocks like Global Partners LP GLP, Antero Midstream Corporation AM and Enbridge, Inc. ENB. While both Global Partners and Antero Midstream sport a Zacks Rank #1 (Strong Buy) at present, Enbridge carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Global Partners, a Delaware limited partnership established by affiliates of the Slifka family, operates one of the most extensive terminal networks for refined petroleum products in New England. The company ranks among the region’s largest wholesale distributors of distillates, including home heating oil, diesel, kerosene, gasoline, residual oil, and bunker fuel, catering to wholesalers, retailers, and commercial customers throughout New England.
GLP’s earnings beat estimates in two of the trailing four quarters and missed in the other two, delivering an average surprise of 345.7%. The Zacks Consensus Estimate for 2025 earnings indicates a 23.2% year-over-year increase.
Antero Midstream generates stable cash flow by providing midstream services under long-term contracts with Antero Resources. The company prioritizes debt reduction by effectively utilizing free cash flow after dividends. Antero Midstream’s higher dividend yield compared to its sub-industry peers reflects its commitment to generating shareholder returns.
AM’s earnings beat estimates in two of the trailing four quarters, met once and missed in the other, delivering an average surprise of 1.13%.
Enbridge is a major energy company that owns the longest and most complex oil and gas pipeline system in North America, transporting about 20% of the natural gas used in the United States. The business earns steady fees through long-term take-or-pay contracts, which protect it from price swings or changes in shipping volumes.
ENB’s earnings beat estimates in three of the trailing four quarters and met in the remaining one, delivering an average surprise of 5.61%.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Antero Midstream Corporation (AM): Free Stock Analysis Report Enbridge Inc (ENB): Free Stock Analysis Report Equinor ASA (EQNR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
