Kentz Rises Most in Nine Months After Oil-Sands Contract Win

Kentz (KENZ) Corp., an Irish oil and gas engineering company, rose the most in almost nine months in London trading after winning a contract from Imperial Oil Ltd. (IMO) for an oil-sands project in Canada.

The contract at the Athabasca project in northern Alberta, which will run until 2016, is “significant” in value, the Tipperary-based company said today in a statement, without disclosing a number.

Kentz climbed 9.2 percent to 412.90 pence at the close, the most since June 19. That values the company at 486 million pounds ($732 million). Trading volumes were more than 14 times the three-month daily average.

The company’s order backlog increased 7 percent last year, it said in January, citing “confidence that we will deliver double-digit earnings growth in 2013.”

The contract may be worth about $200 million, according to an analyst at VSA Capital Ltd.

“Significant” may mean 5 percent to 10 percent of the $2.6 billion order book, Malcolm Graham-Wood, an oil and gas analyst at VSA, said in a note.

To contact the reporter on this story: Nidaa Bakhsh in London at nbakhsh@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.