Arctic: Energy Daily - Oil & Gas Markets, TGS, ENH, REACH, BORR, +++

Research evidence excerpt

Arctic: Energy Daily - Oil & Gas Markets, TGS, ENH, REACH, BORR, +++

Energy Daily

27 May 2026 | 09:17

Oil & Gas Markets, TGS, ENH, REACH, BORR, +++ Key figures & indices

Oil markets: Deal hopes keep prices rangebound Oil price (USD/bbl) Index development

Ongoing hopes for a deal to reopen Hormuz are keeping crude prices rangebound below $100.

Overnight, Brent 1 mth is trading near $98, down $1.50 as the market awaits more news on the

status of talks to reopen Hormuz and extend the ceasefire by 60 days. Yesterday, Brent jumped

+$3.44 to $99.58 after US and Israeli jets fired missiles against Iranian vessels in Hormuz and

Israel stepped up its attacks against Hezbollah in Lebanon. Iran labeled the strikes a violation of

the ceasefire and the IRGC said they would be avenged. Meanwhile, talks to reach a deal are

continuing via intermediaries although both sides have downplayed hopes that a breakthrough

could be imminent. Natural gas prices (USD/MMBtu) Overview of performance

TGS (Buy, NOK 135): Awarded large 4D streamer contract offshore Angola

TGS announced this morning the award of a large and high-end 4D streamer contract offshore

Angola. The project is scheduled to commence in early July 2026 and the contract has a duration

of ~8 months. The contract provides visibility for the vessel into Q1'27.

SED Energy: PTTEP tender still in the clarification phase

PTTEP’s dual tender for the renewal of Energy Drilling’s rigs, EDrill-1 and T-15, for work in the Gulf

Nord Pool (EUR/MWh)of Thailand remains in the clarification phase. Market sources indicate that the operator intends to 12m fwd. EV/EBITDA

conclude clarifications with all bidders by the end of this month. The contract duration is 5 years

firm, plus 36 months of options, with commencement expected in H1/27.