Technipfmc Plc Stock Price, News & Analysis

TechnipFMC (NYSE: FTI) has secured a significant 10-year framework agreement with the Abu Dhabi National Oil Company (ADNOC) for wellheads, trees, and associated services. This contract, valued at over $1 billion, marks the largest-ever Surface Technologies deal for TechnipFMC. The agreement aims to enhance local manufacturing and assembly capabilities in Abu Dhabi while significantly expanding TechnipFMC's services. The CEO emphasized the long-standing partnership with ADNOC as foundational to this contract.

TechnipFMC plc (NYSE: FTI) announced the results of its cash tender offer for various Senior Notes. The maximum principal amount accepted for the Tender Offer has been increased from $100 million to $200 million. As of December 2, 2021, over $200 million of the 2026 Notes have been tendered, leading to a prorated acceptance for $200 million of these notes. Holders of the accepted notes will receive $1,085.00 per $1,000 principal amount, including an Early Tender Premium. No 2025 or 2023 Notes will be accepted, and all tendered 2025 and 2023 Notes will be returned.

TechnipFMC plc (NYSE:FTI) announced that as of 29 November 2021, its capital consists of 450,700,480 ordinary shares at USD 1.00 each, with no shares held in treasury. This results in a total of 450,700,480 voting rights in the Company. TechnipFMC is a prominent technology provider in the energy sector, focusing on integrating projects, products, and services. The company operates in two segments: Subsea and Surface Technologies, emphasizing technology leadership and digital innovation.

TechnipFMC plc (NYSE: FTI) has launched a tender offer to buy back up to $100 million of its outstanding Senior Notes. The offer includes multiple notes due from 2023 to 2026. It will be funded with cash on hand and details are outlined in the Offer to Purchase. The tender expires on December 16, 2021 for 2025 and 2026 notes. An early tender premium is available for early submissions. Acceptance will prioritize certain notes and is subject to conditions detailed in the offer.

TechnipFMC has partnered with PETRONAS Technology Ventures to commercialize a novel natural gas processing membrane that significantly reduces greenhouse gas emissions.

This membrane technology, licensed from PETRONAS, is 30% more efficient than current gas treatment processes and will be integrated into TechnipFMC's global production portfolio, excluding China.

Key executives from both companies expressed optimism about this collaboration, highlighting its potential impact on sustainable energy solutions.

TechnipFMC (NYSE: FTI) has signed a Memorandum of Understanding with Orbital Marine Power to collaborate on tidal energy commercialization. Orbital's floating turbine technology aims to harness underwater currents for reliable renewable energy. This partnership combines TechnipFMC's project management expertise and capabilities with Orbital's innovative technology, potentially reducing costs and meeting the growing demand for renewable energy. The UK currently has one gigawatt of consented tidal sites, highlighting the initiative's market potential.

TechnipFMC (NYSE: FTI) will hold its 2021 Analyst Day on November 16, 2021, in Houston, featuring leadership presentations on the company's impact on the energy sector. The session runs from 8:30 a.m. to noon and is available via live webcast. Key highlights include potential subsea inbound orders nearing $8 billion by 2025 and initiatives to drive diversification in new energy ventures, targeting a market valued at $80 billion by 2030. The company plans to initiate a quarterly dividend in 2023 and aims for substantial growth in subsea services and free cash flow conversion.

TechnipFMC (NYSE: FTI) has secured a significant contract from Exxon Mobil Corporation (NYSE: XOM) for the Yellowtail development project. The contract entails supplying a subsea production system, with a project value classified as large (between $500 million and $1 billion). The project includes delivering 51 enhanced vertical deepwater trees, 12 manifolds, and associated tooling and equipment. TechnipFMC plans to enhance local hiring in Guyana, reaffirming its commitment to the region's workforce and capabilities.

TechnipFMC plc (NYSE:FTI) announced that as of October 29, 2021, its capital comprises 450,700,480 ordinary shares, with each share valued at USD 1.00. The company holds no shares in treasury, resulting in a total of 450,700,480 voting rights. TechnipFMC is a prominent technology provider in the energy sector, offering integrated projects and services. The company focuses on pioneering technologies and solutions that enhance project economics while addressing energy transition goals.