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FMC Technologies, Inc. (FTI)

- NYSE
  • Jun. 25, 2013, 9:08 AM
    FMC Technologies (FTI) +1.6% premarket after receiving a $1.2B subsea equipment order from Total (TOT) for the Egina deepwater field development off Nigeria. FMC's scope of supply includes subsea trees and wellheads, manifolds, installation tooling, flowline connection systems, and associated control systems. FMC says Egina will be "the largest subsea project to date in West Africa."
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  • Jun. 5, 2013, 9:28 AM
    FMC Technologies (FTI) scores another order for subsea equipment in the Gulf of Mexico, this time from Royal Dutch Shell (RDS.A, RDS.B). The scope of the work includes 12 enhanced vertical deepwater trees and controls. Financial terms are not disclosed. The news follows an award yesterday from Anadarko and another from Shell two weeks ago.
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  • Jun. 4, 2013, 8:51 AM
    FMC Technologies (FTI) receives orders from Anadarko Petroleum (APC) for subsea equipment for its Heidelberg field in the Gulf of Mexico. FTI's scope of supply includes five enhanced horizontal subsea trees, tree mounted controls, two manifolds and other associated tooling and equipment. Financial terms were not disclosed.
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  • May. 23, 2013, 11:33 AM
    FMC Technologies (FTI -0.6%) receives what is likely to be a lucrative subsea contract from Shell (RDS.A) for work at its Stones field project in the ultra-deepwater Walker Ridge area of the Gulf of Mexico. Shell is targeting peak output of 50K boe/day under the first phase of development at the field, which holds ~2B boe and is believed by tShell to have "significant upside potential."
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  • Apr. 23, 2013, 4:16 PM
    FMC Tech (FTI): Q1 EPS of $0.43 misses by $0.04. Revenue of $1.6B (+18% Y/Y) beats by $0.01B. (PR)
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  • Apr. 23, 2013, 12:10 AM
    Notable earnings after Tuesday’s close: AAPL, ACC, AMGN, AWAY, BCR, BRCM, CREE, DV, EW, FBC, FTI, HA, HBI, HLIT, HTS, IRBT, ITC, JNPR, LIFE, NBR, NFX, NSC, OI, OII, OMI, PACB, PLCM, PNRA, RFMD, RHI, T, UIS, USNA, VMW, WRB, YUM, ZIXI
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  • Apr. 22, 2013, 5:35 PM
    Notable earnings after Tuesday’s close: AAPL, ACC, AMGN, AWAY, BCR, BRCM, CREE, DV, EW, FBC, FTI, HA, HBI, HLIT, HTS, IRBT, ITC, JNPR, LIFE, NBR, NFX, NSC, OI, OII, OMI, PACB, PLCM, PNRA, RFMD, RHI, T, UIS, USNA, VMW, WRB, YUM, ZIXI
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  • Apr. 18, 2013, 5:49 PM
    The weakness in oil service stocks creates an excellent opportunity for sector standouts Oceaneering (OII), FMC Tech (FTI) and Cameron (CAM), Sterne Agee says. While the firm says it can reconcile drops in land-focused service companies as activity could be impacted if oil price weakness persists, the selloff in deepwater names where activity levels are far more durable seems overblown.
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  • Mar. 28, 2013, 3:45 PM
    While North American specialty chemicals producers should continue to benefit from cost advantage and volume growth, they are unlikely to get help from global price gains in coming years, Credit Suisse says. The firm still sees a positive outlook for U.S. olefin and polyolefin producers such as DOW, LYB and {{WLK]], and chlor-alkali/vinyls producers such as OXY, OLN and AXLL.
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  • Mar. 27, 2013, 2:48 PM
    For investors interested in oilfield services companies, Simmons analysts provide their share-price entry points for the sector's top names - SLB, HAL, BHI, WFT, CAM, FTI, NOV - and finds all look fairly valued with 2013 likely to be a murky year. But "most of these names are good solid buys on weakness," the firm says, and that’s where the entry points help.
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  • Mar. 27, 2013, 9:29 AM
    FMC Technologies (FTI) wins an order from Petrobras (PBR) for the supply of the first subsea manifold systems for its pre-salt fields located offshore Brazil. The contract is valued at ~$130M in revenue. In the past week, FTI had already won contracts from the likes of BP, Statoil and Tullow Oil.
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  • Mar. 26, 2013, 4:49 PM
    FMC Tech (FTI) continues its long-running partnership with Statoil (STO), extending an agreement to provide subsea operations services for STO's developments on the Norwegian Continental Shelf. The duration of the agreement is five years with options for three additional three-year extensions.
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  • Mar. 26, 2013, 9:58 AM
    Spending on subsea valves, pipelines and cables to meet the challenges of ferrying oil and natural gas more than 10K feet through the ocean is expected to grow to a record $13.9B this year, a 66% jump over the $8.4B spent in 2012. Subsea development is only "in the middle innings"; FMC Technologies (FTI), Cameron (CAM) and others should enjoy a "powerful wave of orders" for at least the next five years.
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  • Mar. 20, 2013, 9:07 AM
    FMC Technologies (FTI) nets another subsea services contract with a new deal for operations off Ghana in support of Tullow Oil’s operations in the giant Jubilee field. The value of the contract is not disclosed. FTi earlier this week won a contract to build and supply subsea equipment in support of the second phase of BP’s Mad Dog field development in the Gulf of Mexico.
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  • Mar. 19, 2013, 3:19 PM
    Despite Schlumberger's near-term concerns, Credit Suisse is convinced the U.S. rig count is going higher and thinks investors should be overweight in U.S.-focused companies leveraged to the rig count or completions. CS likes manufacturers HAL, SPN and FET that supply equipment for drilling and producing the tight reservoirs, plus BHI, WFT, NOV and FTI.
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  • Mar. 19, 2013, 9:19 AM
    FMC Technologies (FTI) is awarded a contract to build and supply subsea equipment in support of the second phase of BP's Mad Dog field development in the Gulf of Mexico. FMC will supply subsea trees, manifolds and jumper equipment for the development near Green Canyon Block 825. The value of the contract for the 1B-plus bbl BP project is not revealed.
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Company Description
FMC Technologies Inc is a provider of technology solutions for the energy industry. It designs, manufactures and services subsea production and processing systems, surface wellhead production systems, measurement solutions and marine loading systems.