Subsea7 Awards Multi-Year Extension for Seven Viking Subsea Vessel

Subsea7 S.A. SUBCY and Eidesvik Offshore’s joint venture (JV) company, Eidesvik Seven Chartering, has secured a contract extension with Subsea7 for the Seven Viking subsea vessel. The extension is expected to prolong the vessel’s stay with Subsea7 through 2026 and 2027.Per the terms of the agreement, SUBCY has awarded a firm option for 2026 and 2027 to the Seven Viking subsea vessel. Moreover, the agreement includes an option to extend the contract by another year. Per Eidesvik, the vessel has been chartered for 2027 and 2028 at current market rates. Eidesvik mentioned that this contract for Seven Viking further strengthens its long-term collaboration with Subsea7.The Seven Viking subsea vessel boasts Ulstein’s SX148 design and has a length of 106.5 meters. It is an inspection, repair, and maintenance vessel that can undertake light construction and scale treatment tasks. It also provides diving support services and can accommodate 90 people.SUBCY’s Zacks Rank and Key PicksSUBCY currently carries a Zacks Rank #5 (Strong Sell).Some better-ranked stocks from the energy sector are Archrock Inc. AROC, Nine Energy Service NINE and Kinder Morgan, Inc. KMI. While Archrock currently sports a Zacks Rank #1 (Strong Buy), Nine Energy Service and Kinder Morgan carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.Archrock is an energy infrastructure company based in the United States with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues. With natural gas playing an increasingly important role in the energy transition journey, AROC is expected to witness sustained demand for its services.Nine Energy Service provides onshore completion and production services for unconventional oil and gas resource development. It operates across key prolific basins in the United States, including the Permian, Eagle Ford, MidCon, Barnett, Bakken, Rockies, Marcellus and Utica, as well as throughout Canada. With a sustained demand for oil and gas in the future, the need for NINE’s services is anticipated to increase, which should position the company for growth in the long run.Kinder Morgan is a leading North American midstream player with a stable and resilient business model, largely driven by take-or-pay contracts. KMI’s stable business model shields it from commodity price volatility, resulting in predictable earnings and facilitating reliable capital returns to its shareholders.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 Kinder Morgan, Inc. (KMI): Free Stock Analysis Report Subsea 7 SA (SUBCY): Free Stock Analysis Report Archrock, Inc. (AROC): Free Stock Analysis Report Nine Energy Service, Inc. (NINE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks