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Equinor (EQNR) Teams Up With Seeq for Digital Transformation

Equinor ASA EQNR has embarked on a significant multi-year partnership with Seeq to leverage the latter’s advanced analytics and AI platform. The collaboration aims to drive digital transformation and enhance operational efficiency across Equinor’s global assets.

Per the agreement, Equinor will integrate Seeq’s Industrial Analytics and AI platform to optimize its engineering processes and maximize production. The platform’s capabilities will enable engineering teams to monitor well and process behavior, providing valuable insights into daily operations. These insights will aid in maximizing production, improving energy efficiency, enhancing collaboration and increasing overall operational efficiency.

Seeq’s platform offers a self-service industrial analytics solution, tapping into vast amounts of data that have traditionally been underutilized. By incorporating AI, machine learning and other advanced technologies, the platform supports a wide array of use cases, driving operational excellence, profitability, employee upskilling and sustainability.

To ensure the successful deployment and utilization of the platform, Equinor will receive support from Amitec, a Seeq-certified partner based in Norway. Amitec’s expertise will be crucial in helping Equinor realize the full potential of Seeq’s platform, ensuring seamless integration and maximizing the benefits of this digital transformation initiative.

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In addition to this digital transformation initiative, Equinor and its partners have recently decided to invest $1.13 billion in the North Sea Troll gas field to boost production. EQNR operates the field with a 30.58% stake. The investment will fund the second stage of the Troll Phase 3 project, which involves drilling eight new wells from two new templates and extending subsea controls from existing templates.

The integration of Seeq’s platform is a significant step for Equinor as it seeks to drive operational excellence and sustainability in its operations. By leveraging advanced analytics and AI, Equinor aims to unlock new levels of efficiency and productivity, ensuring that it remains at the forefront of the energy sector.

The latest partnership and investment highlight Equinor's commitment to innovation and its continuous efforts to optimize operations and enhance production capabilities. With the support of Seeq and Amitec, EQNR is well-positioned to achieve its digital transformation goals and drive long-term success.

Zacks Ranks & Stocks to Consider

Equinor currently carries a Zacks Rank #3 (Hold).

Investors interested in the energy sector may look at some better-ranked stocks like SM Energy Company SM, Ecopetrol S.A. EC and USA Compression Partners, LP USAC. SM Energy sports a Zacks Rank #1 (Strong Buy), while Ecopetrol and USA Compression Partners carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

SM Energy is set to expand its oil-centered operations in the coming years with an increasing focus on crude oil, especially in the Permian Basin and Eagle Ford regions. The company’s attractive oil and gas investments can create long-term value for shareholders.

The Zacks Consensus Estimate for SM’s 2024 and 2025 earnings per share (EPS) is pegged at $6.63 and $7.46, respectively. The company has a Zacks Style Score of B for Value. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.

Ecopetrol operates across various sections of the oil and gas industry, including the exploration, development, and production of oil and gas, refining, transportation, and the sale of petroleum products.

Ecopetrol has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days. The company has a Zacks Style Score of B for Value and Growth. The Zacks Consensus Estimate for EC’s 2024 and 2025 EPS is pegged at $2.54 and $2.63, respectively.

USA Compression Partners is one of the largest independent natural gas compression services providers across the United States in terms of fleet horsepower. USA Compression Partners earns its revenues based on the overall horsepower use of natural gas transported rather than the price. As such, the partnership is largely insulated from fluctuations in commodity prices.

The Zacks Consensus Estimate for USAC’s 2024 and 2025 EPS is pegged at 77 cents and 98 cents, respectively. The company has a Zacks Style Score of A for Momentum and B for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past seven days.

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SM Energy Company (SM) : Free Stock Analysis Report

Ecopetrol S.A. (EC) : Free Stock Analysis Report

USA Compression Partners, LP (USAC) : Free Stock Analysis Report

Equinor ASA (EQNR) : Free Stock Analysis Report

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