Oil / Gas Exploration / Production
Enduro Royalty Trust Announces Monthly Cash Distribution
Enduro Royalty Trust announced a cash distribution to the holders of its units of beneficial interest of $0.096825 per unit, payable on June 14, 2013, to unitholders of record on May 31, 2013.
Plains Exploration & Production Co To Declare Special $3.00 Per Share Dividend
Plains Exploration & Production Co announced that it has received the approval of Freeport-McMoRan Copper & Gold Inc. under the merger agreement between the companies for PXP's Board of Directors to declare a special one-time cash dividend of $3.00 per share. Upon receipt of bank waivers under a credit facility that will terminate in connection with the merger, PXP's Board of Directors intends to declare the dividend to PXP stockholders as of May 30, 2013, the expected dividend record date. The dividend will be conditioned upon and paid immediately prior to the completion of PXP's merger with Freeport-McMoRan Copper & Gold Inc.
Encana Corporation Reaffirms FY 2013 Production Guidance-Conference Call
Encana Corp announced that with respect to the Company's liquids growth for fiscal 2013, the Company is on track towards doubling the liquids from about 30,000 barrels in fiscal 2012 to 50,000 to 60,000. In fact, the Company expect to exit fiscal 2013 closer to 70,000 to 75,000 barrels per day.
EOG Resources Inc Comments On FY 2013 Earnings Guidance-Conference Call
EOG Resources Inc announced that for fiscal 2013, it expects expect growth in non-GAAP EPS, adjusted EBITDAX.
Tuscany Energy Ltd and Diaz Resources Ltd Announce Execution Of Definitive Agreement For Proposed Business Combination
Tuscany Energy Ltd (Tuscany) and Diaz Resources Ltd. (Diaz) announced that they have entered into a definitive arrangement agreement in connection with a proposed business combination whereby Tuscany will acquire, subject to certain conditions, all of Diaz's issued and outstanding common shares on the basis of 0.31 of a common share of Tuscany for each one Diaz common share pursuant to a Plan of Arrangement under the Alberta Business Corporations Act. Following completion of the Transaction and a proposed consolidation of Tuscany's common shares on an 8 for 1 basis to be completed subsequent thereto, Tuscany will have approximately 18.6 million common shares outstanding, of which approximately 80.3% will be held by current shareholders of Tuscany and approximately 19.7% of which will be held by former shareholders of Diaz. Based on independent reserve evaluations with an effective date of December 31, 2012 the combined entity will have total proved plus probable reserves of approximately 2.5 million barrels of oil equivalent (BOE). The companies hold approximately 85,000 net acres of undeveloped land. Combined production levels of the companies totalled approximately 635 BOE per day (405 bopd, 1.38 mcfpd) for the month of May, 2013.
Tuscany Energy Ltd and Diaz Resources Ltd Announce Execution Of Definitive Agreement For Proposed Business Combination
Tuscany Energy Ltd (Tuscany) and Diaz Resources Ltd. (Diaz) announced that they have entered into a definitive arrangement agreement in connection with a proposed business combination whereby Tuscany will acquire, subject to certain conditions, all of Diaz's issued and outstanding common shares on the basis of 0.31 of a common share of Tuscany for each one Diaz common share pursuant to a Plan of Arrangement under the Alberta Business Corporations Act. Following completion of the Transaction and a proposed consolidation of Tuscany's common shares on an 8 for 1 basis to be completed subsequent thereto, Tuscany will have approximately 18.6 million common shares outstanding, of which approximately 80.3% will be held by current shareholders of Tuscany and approximately 19.7% of which will be held by former shareholders of Diaz. Based on independent reserve evaluations with an effective date of December 31, 2012 the combined entity will have total proved plus probable reserves of approximately 2.5 million barrels of oil equivalent (BOE). The companies hold approximately 85,000 net acres of undeveloped land. Combined production levels of the companies totalled approximately 635 BOE per day (405 bopd, 1.38 mcfpd) for the month of May, 2013.
Emerald Oil Inc Announces Pricing Of Upsized Public Offering Of Common Stock
Emerald Oil Inc announced that it has priced an underwritten public offering of 12,000,000 shares of the Company's common stock at $6.10 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of common stock. The Company intends to use the net proceeds from this offering, along with cash on hand and the proceeds from its recently announced private placement with White Deer Energy, cash flow from operations, proceeds from the sale of assets and additional borrowings under the credit facility, to fund its capital budget in 2013. Any remaining net proceeds will be used for general corporate purposes, including working capital. The offering is expected to settle on May 22, 2013, subject to the satisfaction of customary closing conditions. In connection with the common stock offering, Canaccord Genuity Inc. and Johnson Rice & Company L.L.C. are acting as joint book-running managers and Global Hunter Securities, LLC and SunTrust Robinson Humphrey, Inc. are acting as co-managers.
UMW Holdings Bhd May Raise $1 Billion In UMW Oil & Gas Bhd IPO-Reuters
Reuters reported that UMW Holdings Bhd is planning to sell 39% of its oil and gas unit UMW Oil & Gas Bhd in an IPO, a deal that some bankers say could raise up to $1 billion. UMW said it is offering 648.6 million shares or 30% of the offshore, drilling and oil-field services provider to institutional investors and the remaining 194.6 million shares to retail investors. Proceeds will be used for repaying bank debt, capital expenditure and working capital, UMW said. CIMB Group Holdings Bhd, Credit Suisse Group AG, Goldman Sachs & Co and Malayan Banking Bhd (Maybank) are joint global co-ordinators, while Standard Chartered is a bookrunner.
3MV Energy Corp Announces Resignation Of Curtis Schoenfeld As President And Chief Executive Officer
3MV Energy Corp announced that Curtis Schoenfeld, President, Chief Executive Officer, and a Director of 3MV, has resigned from the Company.
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Analyst Research
| Report Title | Price |
|---|---|
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Provider: Thomson Reuters StreetEvents
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$75.00
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Provider: Thomson Reuters StreetEvents
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$75.00
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Provider: Edison Investment Research
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$10.00
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Provider: Edison Investment Research
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$10.00
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Provider: Edison Investment Research
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$10.00
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