KBR, Inc. Secures Multiple FEED Contracts for Texas LNG Projects

KBR, Inc. (NYSE: KBR) has been awarded front‑end engineering and design (FEED) contracts for two significant liquefied natural gas (LNG) projects on the Texas Gulf Coast. The contracts were announced on 12 January 2026 by several news outlets, including Zawya, Zacks, Seeking Alpha, GlobeNewswire, Marketscreener, OilPrice, Offshore‑Energy, and Lelezard.

Coastal Bend LNG Project

The Coastal Bend LNG export facility, planned to use ConocoPhillips’ Optimized Cascade® Process, received a FEED award from KBR and Spain‑based Técnicas Reunidas. The two engineering firms will jointly develop the FEED for multiple large‑scale liquefaction trains. If the project receives a final investment decision (FID), KBR and Técnicas Reunidas are slated to proceed directly to the engineering, procurement, and construction (EPC) phase.

Key details:

  • Project location: Texas Gulf Coast
  • Technology: ConocoPhillips Optimized Cascade® Process
  • Objective: Cost‑competitive LNG production with reduced greenhouse gas emissions

The announcement was reported by OilPrice, GlobeNewswire, Offshore‑Energy, Lelezard, and Marketscreener on 12 January 2026.

Texas LNG Plant Development Project

In a separate award on 12 January 2026, KBR and Técnicas Reunidas were also selected for the FEED of a Texas LNG plant development project. The contract involves the design and engineering of LNG facilities intended for export. The partnership will cover the FEED phase and, contingent upon a positive FID, the subsequent EPC phase.

The project was covered by Marketscreener and OilPrice on the same day.

Market Impact

The FEED contracts are a positive signal for KBR’s engineering and construction segment, reinforcing its position in the LNG market. The company’s current market capitalization stands at approximately $5.73 billion (USD), with a 52‑week high of $60.98 and a low of $39.52. KBR’s price‑earnings ratio is 13.98, and its close price on 11 January 2026 was $44.29.

Analysts have adjusted their views on KBR’s shares. On 11 January 2026, Wall Street Zen downgraded KBR from a “buy” to a “hold” rating. Other research houses have issued mixed ratings: Oppenheimer issued an “outperform” rating with a $60.00 target; Bank of America lowered its target to $45.00 and set a “neutral” rating; Wells Fargo gave an “equal weight” rating with a $45.00 target; and Citigroup reduced its objective from $62.00 to $57.00 while maintaining a “buy” rating.

These developments suggest that while KBR’s recent LNG project wins bolster its engineering credentials, market sentiment remains cautious, reflecting broader uncertainties in the LNG and industrial construction sectors.