ConocoPhillips Takes Over Full Operatorship of Kebabangan Gas Field

ConocoPhillips COP, a leading U.S.-based exploration and production company, has assumed full operatorship of the Kebabangan gas field in East Malaysia. Malaysia’s state-owned energy firm, Petronas, mentioned that it has transferred its rights related to the Kebabangan Cluster offshore Sabah to ConocoPhillips. Previously, the Kebabangan Cluster was jointly operated by Petronas, Shell and ConocoPhillips.The gas field is a key asset in East Malaysia, with an export capacity of up to 750 million standard cubic feet per day. The Kebabangan gas field is anticipated to hold nearly 2.2 trillion cubic feet of gas. Petronas noted that new commercial agreements have been secured to ensure the gas field’s future developments remain economically and commercially feasible until 2050. These agreements should also support Sabah’s regional energy requirements.COP’s Zacks Rank and Key PicksCOP currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks from the energy sector are Sunoco LP SUN, Equinor ASA EQNR and Cheniere Energy, Inc. LNG. Sunoco and Equinor currently sport a Zacks Rank #1 (Strong Buy) each, while Cheniere Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Sunoco LP is one of the largest distributors of motor fuel in the United States. The partnership distributes fuel to independent dealers, commercial customers, convenience stores and distributors. Its current distribution yield is greater than that of the industry's composite stocks, providing unitholders with consistent returns.Equinor ASA is one of the leading integrated energy companies globally and the second-largest supplier of natural gas in Europe. The company’s expansion in the renewable energy space positions it for long-term growth as more and more countries transition toward cleaner energy solutions to meet their climate goals. Its strategic pivot toward low-carbon energy solutions unlocks new revenue streams in the growing market for clean energy and carbon management solutions.Cheniere Energy is involved in LNG-related businesses, which include LNG terminals and natural gas marketing. The company has achieved a milestone with the first production from the first LNG train of its Corpus Christi Stage 3 Liquefaction Project. The project, which includes seven midscale LNG trains, aims to expand the production capacity of the Corpus Christi Liquefaction facility. This expansion is expected to enhance Cheniere's position in the rapidly growing global LNG market, enabling it to meet the rising demand for LNG, both in the United States and internationally.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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 ConocoPhillips (COP): Free Stock Analysis Report Sunoco LP (SUN): Free Stock Analysis Report Cheniere Energy, Inc. (LNG): Free Stock Analysis Report Equinor ASA (EQNR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks