Equinor ASA (EQNR) Bolsters Helicopter Capacity in Bergen

Equinor ASA (NYSE:EQNR) is one of the best undervalued stocks under $50 to invest in now. Equinor ASA (NYSE:EQNR) announced on March 18 that it has awarded Bristow Norway AS a contract for helicopter services in Bergen, Norway, strengthening the helicopter capacity in Bergen. Two S‑92 helicopters are covered in the agreement, providing offshore transport services from Flesland Airport. The contract is set to commence on May 1, with a duration of one year and options for extension for a further two one‑year periods. Management further stated that the estimated contract value is approximately NOK 1.1 billion.

Equinor ASA (NYSE:EQNR) provided further context, stating that the company presently operates around 5,000 helicopter flights per year from Bergen Airport, Flesland, and is in agreement with Bristow for five helicopters in Bergen, which expires on 30 April. The terms of the new contract state that two of the existing helicopters will be continued, ensuring good continuity for both personnel and operations.

In a separate development, BofA adjusted the price target on Equinor ASA (NYSE:EQNR) to NOK 345 from NOK 260 on March 13, while maintaining a Neutral rating on the shares.

​Equinor ASA (NYSE:EQNR) explores, transports, produces, refines, and markets petroleum and petroleum-derived products. The company’s operations are divided into the following segments: Exploration and Production Norway, Exploration and Production International, Exploration and Production USA, Marketing, Midstream, Processing, Renewables, and Other.

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