$GLNG

Sector Update: Energy Stocks Edge Lower Thursday Afternoon

Energy stocks were slightly lower Thursday afternoon, with the NYSE Energy Sector Index decreasing 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) fractionally lower.The Philadelphia Oil Service Sector Index was shedding 0.2%, and the Dow Jones US Utilities Index rose 0.3%.Front-month West Texas Intermediate crude oil fell 1.5% to $82.04 a barrel, and the global benchmark Brent crude contract shed 1.4% to $87.78 a barrel. Henry Hub natural gas futures declined 3% to $2.72 per 1 million BTU.In geopolitical news, the Strait of Hormuz is "under Iran's control and management," the recently appointed head of Iran's Basij paramilitary unit said Thursday, a day after US President Donald Trump said the US had "total control" of the waterway, Reuters reported.US natural gas stocks rose by 36 billion cubic feet in the week ended Aug. 7, higher than the 31 billion cubic foot increase expected in a survey compiled by Bloomberg and following an increase of 33 billion cubic feet in the previous week.In corporate news, Exelon's (EXC) ComEd unit has restored power to more than 80% of customers affected by severe storms that swept through northern Illinois on Aug. 11 and 12, the company said Thursday. Exelon shares were up 0.6%.Delek Logistics Partners (DKL) shares fell nearly 13% after the company said it priced an underwritten public offering of 4 million units at $50 each for gross proceeds of $200 million.Kodiak Gas Services (KGS) has visibility into multiyear EBITDA growth amid rising demand across power and natural gas, RBC Capital Markets said in a note Wednesday. RBC kept an outperform rating on the stock and increased its price target to $88 from $84. Kodiak shares rose 1.5%.Golar LNG (GLNG) shares added around 1% after it reported higher Q2 net income and operating revenue.

Golar LNG Orders Fourth FLNG, Boosts Capacity Above 12 MTPA

Golar LNG (GLNG), a Bermuda-based Nasdaq-listed maritime liquefied natural gas infrastructure company, on Thursday said it has reached an engineering, procurement and construction agreement with Yantai CIMC Raffles Offshore for its fourth Floating LNG production vessel.The order will increase Golar's controlled liquefaction capacity by about 41% to above 12 MTPA and potentially increase its earnings potential by around 50% if chartered at similar terms to its sister vessel the FLNG Esperanza, the company said.The vessel, the company's second based on MKII design, will have an annual liquefaction capacity of 3.5 million tons of LNG per annum.It has a total budget of about $2.45 billion, with delivery from the shipyard to its prospective site expected by the end of 2029, the company said in a statement. Golar intends to have a long-term charter contract for the unit, with advanced commercial discussions in progress.The unit is expected to be the earliest available FLNG capacity globally, with the EPC agreement also including an option to order an additional FLNG unit, the company said.In Q2, Golar LNG's revenue from its liquefaction services stood at $55.6 million, which compares with revenue of $56.5 million in the corresponding quarter last year.Golar said it has 5.1 MTPA of FLNG capacity in operation, 3.5 MTPA under conversion, and another 3.5 MTPA under a new EPC contract, giving it more than 12 MTPA in total and making it the world's largest FLNG capacity owner.FLNG Gimi, in which Golar has a 70% interest, has offloaded 41 cargoes and is producing ahead of schedule. It has achieved a 15% higher day rate in Q2, and output is expected to exceed contracted volumes annually, the company said.Meanwhile, conversion of the 3.5 MTPA FLNG Esperanza remains on schedule and within budget, with completion expected in Q4 2027. Upon completion, the FLNG is expected to begin operations in Argentina in H2 2028.Price: $52.35, Change: $+1.28, Percent Change: +2.51%

Sector Update: Energy Stocks Decline Premarket Thursday

Energy stocks were declining premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) falling 0.5%.The United States Oil Fund (USO) was down 2.3% and the United States Natural Gas Fund (UNG) was 1.8% lower.Front-month US West Texas Intermediate crude oil was 2.5% lower at $81.19 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 2.2% to $87.07 per barrel, and natural gas futures were down 1% at $2.78 per 1 million British Thermal Units.Golar LNG (GLNG) shares were up over 8% after the company reported higher Q2 net income and operating revenue.Delek Logistics Partners (DKL) stock was down more than 13% after the company said it priced an underwritten public offering of 4 million units at $50 each for gross proceeds of $200 million.

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Thursday Amid Producer Inflation Data Release

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.2%, and the actively traded Invesco QQQ Trust (QQQ) was 0.1% higher in Thursday's premarket activity amid softer-than-expected July producer prices.US stock futures were also higher, with S&P 500 Index futures up 0.2%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 0.1% before the start of regular trading.In premarket activity, bitcoin was up by 0.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.1% higher, Ether ETF (EETH) retreated 0.04%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.2% lower.The US Producer Price Index held steady in July following a 0.1% decrease in June, compared with the 0.2% gain expected in a survey compiled by Bloomberg as of 7:30 am ET.US initial jobless claims rose to a level of 209,000 in the week ended Aug. 8 from an upwardly revised 200,000 level in the previous week, compared with expectations for a smaller increase to 202,000 in a survey of analysts compiled by Bloomberg.The weekly natural gas stocks data will be released at 10:30 am ET.Federal Reserve Cleveland President Beth Hammack, Richmond Fed President Thomas Barkin, and Atlanta Fed President Cheryl Venable speak on Thursday.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.1%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat, and the iShares US Consumer Staples ETF (IYK) was 0.1% lower. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.3%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.7% higher.Birkenstock (BIRK) shares were up more than 11% pre-bell after the company reported higher fiscal Q3 adjusted earnings and revenue.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.1%, while the Vanguard Industrials Index Fund (VIS) was up 0.4% and the iShares US Industrials ETF (IYJ) was inactive.Intuitive Machines (LUNR) stock was down more than 9% before the opening bell after the company reported a wider Q2 loss.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.1%, the iShares US Technology ETF (IYW) was 0.03% higher, and the iShares Expanded Tech Sector ETF (IGM) was down 0.02%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was flat, while the iShares Semiconductor ETF (SOXX) fell by 0.5%.Cisco Systems (CSCO) shares were down more than 6% in premarket activity even after the company reported higher-than-expected fiscal Q4 results and guidance for fiscal Q1 and 2027.EnergyThe iShares US Energy ETF (IYE) was down 0.02% while the State Street Energy Select Sector SPDR ETF (XLE) was 0.3% lower.Golar LNG (GLNG) stock was up nearly 3% before market open after the company posted higher Q2 net income and operating revenue.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.3%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1% lower.Mitsubishi UFJ Financial Group (MUFG) shares were up 2% in early-hours activity after the company said it is launching a proof-of-concept collaboration to bring Japanese government bond repurchase transactions on-chain through Canton Network.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.4%, the Vanguard Health Care Index Fund (VHT) was up 0.7%, while the iShares US Healthcare ETF (IYH) gained 0.5%. The iShares Biotechnology ETF (IBB) was 0.6% higher.AbCellera Biologics (ABCL) stock was down more than 1% premarket after the company priced a public offering of shares and pre-funded warrants for expected gross proceeds of about $200 million, the company said Thursday.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 2.1% to $81.54 per barrel on the New York Mercantile Exchange. Natural gas was 0.8% lower at $2.78 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased by 1.8%, while the United States Natural Gas Fund (UNG) was 0.1% lower.Gold futures for November were down by 0.5% at $4,443.40 an ounce on the Comex. Silver futures retreated 0.8% to $65.19 an ounce. SPDR Gold Shares (GLD) was down by 0.6%, and the iShares Silver Trust (SLV) was 0.6% lower.

Sector Update: Energy

Energy stocks were declining premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) falling 0.7%.The United States Oil Fund (USO) was down 2% and the United States Natural Gas Fund (UNG) was 0.9% lower.Front-month US West Texas Intermediate crude oil was 2.4% lower at $81.25 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 2.1% to $87.13 per barrel, and natural gas futures were down 1.2% at $2.77 per 1 million British Thermal Units.Golar LNG (GLNG) shares were up more than 7% after the company reported higher Q2 net income and total operating revenue.

Golar LNG Keeps Quarterly Dividend at $0.25 a Share, Payable Sept. 2 to Holders of Record as of Aug. 24

Golar LNG Closes New $600 Million Revolving Credit Facility

Golar LNG (GLNG) said Monday it has closed a new $600 million senior secured revolving credit facility.The credit facility is secured by Golar's investment in the MKII FLNG, which is being converted in China to serve a 20-year contract with Argentina's Southern Energy, according to a statement.Shares of Golar LNG were down more than 1% in early Monday trading.Price: $48.34, Change: $-0.81, Percent Change: -1.65%

Baker Hughes Boosts Long-Term Outlook as LNG, Power Orders Fuel Growth, RBC Says

Baker Hughes (BKR) reported a stronger-than-expected Q2 and raised its long-term industrial energy technology order outlook, supported by surging demand for power-generation equipment and liquefied natural gas infrastructure, RBC Capital Markets strategists said in a note on Monday.RBC analysts said the oilfield services and energy technology firm posted adjusted earnings before interest, taxes, depreciation and amortization of $1.23 billion in Q2, up 6% from the previous quarter and above the top end of its guidance range for the second consecutive period.Free cash flow reached $1.05 billion, more than double RBC's estimate of $498 million, reinforcing management's expectation that cash conversion will approach 50% for the year.Baker Hughes shares gained support from strong momentum in its Industrial & Energy Technology division, which has become a key growth driver as global demand rises for LNG capacity, data-center power and energy infrastructure.RBC said that the company secured $7.1 billion in IET orders during the quarter, exceeding expectations.Power Systems accounted for $2.6 billion of the new orders, covering 2.7 gigawatts of generation capacity. The contracts included turbine and generator equipment for oil and gas operations as well as data-center applications in North America.The company also booked $1.8 billion in LNG equipment orders across projects involving Venture Global's (VG) CP2 facility, Golar LNG's (GLNG) FLNG project and Cheniere Energy's (LNG) Sabine Pass LNG facility.Following the strong order intake, Baker Hughes increased its IET Horizon 2 order target for 2026/28 to more than $45 billion, from a previous target of $40 billion.The energy firm also said it plans to expand power systems revenue capacity to $5 billion per year by 2029, compared with about $1 billion generated in 2025.RBC analysts expect the company's multi-year growth and margin expansion to be driven primarily by IET.For Q3, Baker Hughes forecasted EBITDA of about $1.21 billion, while reaffirming its full-year 2026 EBITDA midpoint of $4.85 billion.The company's implied Q4 outlook assumes Middle East activity remains at Q2 levels, a more cautious stance compared with some industry peers.RBC raised its 2026 EBITDA estimate for Baker Hughes to $4.85 billion, while trimming its 2027 forecast by 1% to $5.39 billion due to modestly lower margin expectations.The research firm introduced a 2028 EBITDA forecast of $5.95 billion, representing growth of about 11% year over year.Price: $58.11, Change: $-2.48, Percent Change: -4.09%

Baker Hughes Q2 Orders Climb YOY

Energy technology company Baker Hughes Monday said its total orders stood at $10.50 billion in Q2, a 49% jump from $7.03 billion a year earlier, as orders under the industrial and energy technology segment doubled.In the quarter ended June 30, IET orders surged year over year to $7.09 billion from $3.53 billion, led by the gas technology product line. Segment revenue steadied at $3.29 billion, data showed.Baker Hughes said the IET segment received several awards from companies, including Venture Global (VG), Cheniere Energy (LNG), Bechtel, Golar LNG (GLNG), Nigeria LNG, Dynamis Power Solutions, Kodiak Gas Services (KGS), and Saipem Nasser Saeed Al-Hajri Contracting.Meanwhile, the company's oilfield services and equipment business received lower orders in Q2, totaling $3.41 billion. This represents a 3% decline from the previous year's $3.50 billion.Segment revenue stood at $3.45 billion, 5% lower than a year earlier, according to the report.Baker Hughes said it divested Waygate Technologies to Hexagon and completed the acquisition of Chart Industries (GTLS) in July.It also entered into a commercial agreement with Mantle Reach Power to develop up to 500 megawatts of power over the next five years, advancing large-scale geothermal development in North America.

Golar LNG Reports Higher Q1 FLNG Production as Argentina Projects Advance

Golar LNG (GLNG) reported Q1 earnings on Wednesday, highlighting stronger Q1 operational performance from its floating liquefied natural gas fleet.FLNG Gimi produced above its contracted 2.4 million tons per annum capacity during Q1, lifting invoiced day rates 19% above contractual levels, while FLNG Hilli maintained 100% economic uptime through the quarter, the company said.FLNG Gimi completed 10 cargo offloads in the quarter, compared with four cargoes from FLNG Hilli.Golar LNG is upgrading FLNG Hilli ahead of its redeployment from Cameroon to Argentina, with operations expected to begin in the second half of 2027.The company continued construction work on its MKII FLNG project in Argentina, where conversion exceeded 60% completion after more than 10 million manhours without lost-time incidents, according to Golar LNG.Golar LNG expects MKII FLNG to start operations in Argentina in the second half of 2028 with 3.5 million tons per annum capacity, while the project remains on track for delivery during Q4 2027, the company added.Golar LNG also narrowed the concept selection for a fourth FLNG unit and aims to place an order within 2026 as commercial discussions accelerate across Africa, the Middle East and South America, the company said.Price: $56.30, Change: $+0.65, Percent Change: +1.17%

Sector Update: Energy Stocks Lean Lower Premarket Wednesday

Energy stocks were leaning lower premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.7%.The United States Oil Fund (USO) was down 2.8% and the United States Natural Gas Fund (UNG) was 1.9% lower.Front-month US West Texas Intermediate crude oil was 0.8% lower at $107.77 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 2.3% to $108.68 per barrel, and natural gas futures were down 2.1% at $3.05 per 1 million British Thermal Units.Golar LNG (GLNG) stock was up more than 3% after the company posted higher Q1 net income and operating revenue.Dorian LPG (LPG) shares were up more than 4% after the company reported higher fiscal Q4 adjusted earnings and revenue.Shell (SHEL) unit BG International has sold participating interests in three exploration blocks offshore Uruguay to QatarEnergy. Shell shares were 0.4% lower pre-bell.

Sector Update: Energy

Energy stocks were leaning lower premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.6%.The United States Oil Fund (USO) was down 2.5% and the United States Natural Gas Fund (UNG) was 1.6% lower.Front-month US West Texas Intermediate crude oil was 0.8% lower at $107.77 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 2.9% to $108.10 per barrel, and natural gas futures were down 1% at $3.08 per 1 million British Thermal Units.Golar LNG (GLNG) stock was up more than 3% after the company posted higher Q1 net income and operating revenue.