KBR, Inc. - KBR STOCK NEWS

KBR announced that KTJV, its joint venture with Technip Energies, has been selected by Lake Charles LNG Export Company for the Lake Charles LNG transformation project. The project aims to convert Energy Transfer's existing import facility into a world-class LNG export facility, designed to export 16.45 metric tons per annum of LNG.

KTJV will provide comprehensive services including engineering, procurement, construction management, commissioning, and startup, subject to Lake Charles LNG's notice to proceed. The project includes three liquefaction trains and modifications to existing storage and dock facilities.

KBR's President and CEO, Stuart Bradie, emphasized the project's role in bolstering global energy security and its design as one of the most efficient and cleanest operating facilities in the United States. The final investment decision will depend on obtaining commercial offtake commitments and third-party equity.

KBR has been awarded an estimated $230 million cost-plus-fixed-fee recompete contract by the U.S. Air Force's 774th Enterprise Sourcing Squadron. The contract, under the Department of Defense Information Analysis Center's multiple-award contract vehicle, is for information systems modernization supporting Naval Air Systems Command (NAVAIR), Program Executive Office for Manpower, Logistics and Business Solutions (PEO MLB), and Commander, Fleet Readiness Centers (COMFRC).

The work will primarily be performed at Naval Air Station Patuxent River, Maryland, and Huntsville, Alabama, over a five-year period. KBR will provide optimized IT solutions across the NAVAIR enterprise, including research and development for real-time flight and maintenance information, deployable hosting solutions, and end-to-end testing of software releases and cybersecurity updates.

KBR has been awarded a $140 million follow-on task order to support the Air Force Life Cycle Management Center (AFLCMC). The 60-month cost-plus-fixed-fee recompete contract involves providing operational safety, suitability, and effectiveness engineering tasks. KBR will continue its work on F-16, A-10, and T-38 aircraft programs at Hill Air Force Base and other U.S. Air Force locations.

The company will assist in digital transformation initiatives, system engineering, and integration support for various systems. KBR will also develop prototypes for critical safety hardware using rapid prototyping capabilities. This contract reinforces KBR's long-standing partnership with the U.S. Air Force in providing sustainment engineering solutions and improving mission readiness.

KBR (NYSE: KBR) has been awarded a conceptual study contract for floating blue ammonia production by Samsung Heavy Industries (SHI), a major South Korean shipbuilder. This project is part of SHI's diversification into the ocean energy business, focusing on maritime technology. The study will combine KBR's innovative blue ammonia technology for offshore production with SHI's expertise in designing mega floating vessels.

Jay Ibrahim, KBR President of Sustainable Technology Solutions, emphasized the significance of this collaboration, stating it will provide a sustainable platform for clients to achieve energy transition objectives with greater flexibility. KBR's extensive experience in ammonia technology, having licensed, engineered, or constructed over 260 grassroot ammonia plants worldwide since 1943, positions them as a leader in this field.

KBR (NYSE: KBR) has been awarded a contract to continue providing technical design services at HMAS Stirling for Australia's sovereign nuclear-powered submarines program. This work supports the Submarine Rotational Force (SRF) – West and accelerates Australia's ability to operate and maintain its future nuclear-powered submarine fleet. KBR will integrate capabilities from Frazer Nash Consultancy to support a safety-led approach for nuclear technical solutions.

The company's expertise includes developing solutions for maritime infrastructure, low-level radioactive waste management, submarine maintenance support facilities, estate planning, digital integration, and systems engineering requirements. This contract follows KBR's previous announcement of providing concept design services for the new nuclear-powered submarine construction yard at Osborne in South Australia.

KBR (NYSE: KBR) has secured a contract to provide its ROSE® supercritical Solvent De-Asphalting (SDA) technology to Zhejiang Petroleum & Chemical Co. (ZPC), a subsidiary of Rongsheng Petrochemical Co. in China. The agreement includes technology licensing and proprietary engineering design for what will be the largest SDA unit in China.

KBR's ROSE technology is an energy-efficient process for bottom-of-the-barrel processing, designed to improve refiners' carbon footprint and upgrade residue conversion for higher profitability. With this contract, KBR reinforces its position as a global leader in SDA technology, boasting an installed base of 72 ROSE units worldwide with a combined licensed capacity of nearly 1.66 million barrels per day.

KBR has secured engineering contracts from Seatrium Group for two new high-production, energy-efficient floating production storage and offloading (FPSO) units destined for Petrobras' Atapu and Sepia fields in Brazil's Santos Basin. KBR will provide detailed engineering services and technical support for the topsides of P-84 and P-85 FPSOs, each capable of producing 225,000 barrels of oil per day and processing 10 Mm³ of gas daily.

The FPSOs will incorporate advanced technologies to minimize environmental impact, including zero routine flaring and venting, variable speed drives, and CO2 capture measures. These features aim to significantly reduce greenhouse gas emissions compared to conventional designs.

KBR (NYSE: KBR) has completed the acquisition of LinQuest , a leading provider of advanced engineering, data analytics, and digital integration for national security space missions. This acquisition strengthens KBR's capabilities in space, air dominance, and connected battlespace missions. LinQuest serves important U.S. government customers, including the U.S. Space Force, U.S. Air Force, and other defense and intelligence agencies.

The integration expands KBR's ability to meet growing customer demands and enhances its high-end digital solutions. LinQuest will be integrated into KBR's Government Solutions segment and Defense and Intel business unit. Due to the closing date, LinQuest's financial results are not expected to significantly impact KBR's Q3 2024 financial results. The full impact of the acquisition on KBR's annual guidance will be discussed during the Q3 earnings call.

KBR (NYSE: KBR) has announced a quarterly dividend declaration. The company's Board of Directors has approved a regular quarterly dividend of $0.15 per share on KBR's common stock. This dividend will be paid on October 15, 2024, to stockholders of record as of September 16, 2024. The dividend applies to KBR's common stock, which has a par value of $0.001 per share.