Energy Daily-06/22/2026

Research evidence excerpt

Energy Daily-06/22/2026

Energy Daily

22 JUN 2026

Today’s highlights: Subsea: Only incumbents and high bids in Petrobras’ 19-May 16-Jun

PLSV tender; ENH: PTTEP tenders in the final clarification phase. Also covered: CommodityBrent Crude (bbl)prices Last 6 days Last $price80.6 -10.0day% -1-3.1week% -1 -25.4month% 1M 111.3high 1M 79.0low

Shearwater. WTIDutch(bbl)TTF Gas $/MMBtu$ 13.675.2 -0.9-4.2 %% -11.5-18.7 %% -26.6-20.4 %% 104.417.6 75.913.6

UK Nat Gas $/MMBtu 13.4 0.0 % -1.5 % -21.2 % 17.0 12.8

Henry Hub Nat Gas $/MMBtu 3.2 3.0 % 5.8 % 5.4 % 3.3 2.9

Subsea – Only incumbents and high bids in Petrobras’ PLSV tender UKCO2electricityprice (1M) £/MWhEUR/t 96.680.6 2.90.7 %% -4.64.4 %% -7.77.5 %% 106.080.6 93.874.9

• Bids in the latest PLSV tender with Petrobras showed only a few incumbent BrentUSD/boeand Nat. gas in USD/boe Equivalent** last 3Y CO2EUR/tprice last 3Y

bidders (DOF, PLSV, Subsea). In several lots, DOF is the only bidder 135120 10090

80• Bids for the larger vessels (550t with vertical lay systems (“VLS”)) came in at 105

60 USD ~376-400k/day (VTC) under Brazilian flag and USD ~338-407k/day 75 70

under international flag (less opex, sales tax, etc), with Skandi Buzios 60 5040

(DOF/Technip JV) and Paratus’ Sapura Jade the only vessels bid into these 4530 3020

lots 15 10

Jun-25 Jun-26 Jun-24 Jun-25 Jun-26 Jun-23 Jun-24• Smaller vessels categories (275-300t VLS) received bids at USD ~325k/day, Jun-230 0 CO2 Price Dutch TTF Brent

noting Skandi Recife and Skandi Olinda (DOF/Technip JV) were the only Last Total return Short Cons. NTM

smaller PLSVs bid in here and only under Brazilian flag, with Skandi Buzios E&P 6 days Last price -1 day -1 week YTD interest P/E