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    NVTK   US6698881090

NOVATEK

(NVTK)
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Novatek, Gazprom Form JV for Exploration in East Siberian Sea

06/04/2021 | 04:16am EDT

By Joe Hoppe

Novatek said Friday that it has formed a joint venture with Gazprom Neft to conduct exploration work on the North-Vrangelevskiy License Area, in the eastern part of the East Siberian Sea.

The Russian energy company said the agreement builds on a prior arrangement signed by both parties in June 2019 for joint Arctic development. The parties plan to conduct exploration work on a parity basis on the license, which is located in the eastern part of the East Siberian Sea and the western part of the Chukchi Sea.

"We have a solid background for efficient operations on this new prospective project: successful track record of joint projects implementation with Gazprom Neft, our experience in navigating the Northern Sea Route as well as the measures taken by the Government of the Russian Federation to ensure year-round navigation along the NSR," Novatek Chairman Leonid Mikhelson said.

Shares in Novatek at 0751 GMT were up two rubles (2.74 U.S. cents), or 0.1%, at RUB1,553.0, while shares in Gazprom Neft were down RUB0.6, or 0.2%, at RUB406.05.

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

06-04-21 0415ET

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 0.04% 35756.88 Delayed Quote.16.57%
NOVATEK -0.64% 262 Delayed Quote.61.38%
PUBLIC JOINT STOCK COMPANY GAZPROM 0.25% 364.95 End-of-day quote.71.59%
PUBLIC JOINT STOCK COMPANY GAZPROM NEFT 0.13% 519.15 End-of-day quote.63.80%
WTI 0.64% 84.313 Delayed Quote.70.78%
All news about NOVATEK
10/25NOVATEK JOINT STOCK : Boosts Arctic LNG 2 Credit Line With Russian Banks To $6.6 Billion
MT
10/25NOVATEK JOINT STOCK : Update on NOVATEK Buyback Program
PU
10/18NOVATEK JOINT STOCK : Update on NOVATEK Buyback Program
PU
10/15NOVATEK JOINT STOCK : Holds Arctic LNG Projects Shipowners Conference
PU
10/15NOVATEK JOINT STOCK : Hosts Contractors Forum
PU
10/15Russia's Novatek to open Arctic plant in 2027 to produce hydrogen, ammonia - Ifax
RE
10/13NOVATEK JOINT STOCK : Fueling the Low-Carbon Energy Future (ESG presentation)
PU
10/11NOVATEK JOINT STOCK : Q3 Preliminary Natural Gas Sales Rise Marginally
MT
10/11NOVATEK JOINT STOCK : Reports Preliminary Operating Data for the Third Quarter and Nine Mo..
PU
10/11PAO NOVATEK Reports Preliminary Operating Results for the Third Quarter and Nine Months..
CI
More news
Analyst Recommendations on NOVATEK
More recommendations
Financials (USD)
Sales 2021 14 848 M - -
Net income 2021 5 239 M - -
Net Debt 2021 1 074 M - -
P/E ratio 2021 16,1x
Yield 2021 3,04%
Capitalization 78 599 M 78 599 M -
EV / Sales 2021 5,37x
EV / Sales 2022 5,33x
Nbr of Employees -
Free-Float 61,8%
Chart NOVATEK
Duration : Period :
Novatek Technical Analysis Chart | NVTK | US6698881090 | MarketScreener
Technical analysis trends NOVATEK
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 262,00 $
Average target price 249,97 $
Spread / Average Target -4,59%
EPS Revisions
Managers and Directors
Leonid Viktorovich Mikhelson Chairman-Management Board & Executive Director
Mark Anthony Gyetvay CFO & Deputy Chairman-Management Board
Alexander Yegorovich Natalenko Chairman
Sergey Vladimirovich Vasyunin Director-Operations & Deputy Chairman
Viktor Petrovich Orlov Independent Director
Sector and Competitors
1st jan.Capi. (M$)
NOVATEK61.38%79 109
SNGN ROMGAZ SA35.23%3 374
ENWELL ENERGY PLC98.17%192
LA FRANÇAISE DE L'ENERGIE29.17%148
ALVOPETRO ENERGY LTD.586.11%135
WENTWORTH RESOURCES PLC28.95%63