Equinor ASA (NYSE:EQNR) shares are trading higher during Monday’s premarket session, up 2.27%, bucking a softer tape as Energy stocks lead early sector performance.

Nasdaq futures are down 0.10% while S&P 500 futures have shed 0.11%, but Energy (XLE) is up 0.63%, giving EQNR a supportive macro backdrop tied to the commodity-sensitive trade.

Equinor Extends Drilling, Well Service Contracts

Separately, Equinor on Monday said it has extended key drilling and well service contracts to sustain production on the Norwegian continental shelf.

The company is exercising one-year options on three integrated drilling and well services contracts. In addition, it is extending 18 corporate framework agreements for related specialist services by two years.

The integrated contracts are valued at 8.3 billion Norwegian kroner (about $0.9 billion). The specialist service frameworks are estimated at roughly 4.3 billion Norwegian kroner (about $0.5 billion) annually over the two-year period.

The contracts have been awarded to Baker Hughes Company (NASDAQ:BKR), ...