McDermott International (MDR)

BigDogBlog (71.13) Submitted: 2/02/07 11:57 AM : Start Price: $25.70 MDR Score: -4.00

Streetwalker
Five Cheap Growth Stocks
Forbes.com staff 01.05.07, 6:00 AM ET

The shares of these five companies look reasonably priced relative to expectations for profit growth.

The measure here is price-to-earnings-growth ratio, calculated by dividing a stock’s estimated price-to-earnings ratio for the next 12 months by its projected long-term earnings growth rate. These stocks have PEGs below 1.0, a sign that they might be bargains. All these companies are profitable and have generated positive free cash flow (net income plus depreciation less capital expenditures) over the last 12 months.


AP
Lukoil Awards McDermott Caspian Contract
Friday January 26, 1:13 pm ET
Russia's Top Oil Producer Lukoil Awards McDermott Subsidiary Contract for Caspian Sea Pipeline

Under the contract, McDermott Caspian Contractors will lay a 36-mile pipeline to Lukoil's Yury Korchagin oil and gas field, located in the northwestern, Russian section of the sea, the company said.

"The volume of construction work in Russia's oil and gas sector is gathering pace and we are proud to be working with Lukoil on this world-class project," Dan Houser, president and general manager for the company's Caspian operations said in a statement.

McDermott did not say how much the pipeline project would cost. The RIA-Novosti news agency reported that the entire project to develop the field, including the pipeline, would cost $700 million.

The field is due to come onstream in 2008 with annual capacity of 80,000 barrels per day and 10 billion cubic meters of gas per year, RIA-Novosti said.

The Caspian Sea has some of the largest oil and gas fields in the former Soviet Union. Most are located in the section of the sea controlled by Azerbaijan, south of Russia.

Report this Post Replies: 1 | Reply