Despite the current weakness of European gas prices, it seems that the confidence in Johan Sverdrup’s potential has pushed management to start the buy-back programme. The decision was also probably helped by the stock’s underperformance this year: yesterday Equinor was down 15% ytd compared to flat for Eni. During the call, management mentioned it had good visibility until 25 February 2020, justifying the front-loading of the buy-back programme ($1.5bn within six months against an
05 Sep 2019
Johan Sverdrup triggers the $5bn share buy-back programme
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Johan Sverdrup triggers the $5bn share buy-back programme
Despite the current weakness of European gas prices, it seems that the confidence in Johan Sverdrup’s potential has pushed management to start the buy-back programme. The decision was also probably helped by the stock’s underperformance this year: yesterday Equinor was down 15% ytd compared to flat for Eni. During the call, management mentioned it had good visibility until 25 February 2020, justifying the front-loading of the buy-back programme ($1.5bn within six months against an