On Thursday, Shares of Laredo Petroleum Inc (NYSE:LPI), lost -3.07% to $12.32.
Laredo Petroleum, declared its 2015 third-quarter results, reporting a net loss attributable to common stockholders of $847.8 million, or $4.01 per diluted share, which comprises a pre-tax, non-cash full cost ceiling impairment charge of $906.4 million. Adjusted Net Income, a non-GAAP financial measure, for the third quarter of 2015 was $15.4 million, or $0.07 per diluted share. Adjusted EBITDA, a non-GAAP financial measure, for the third quarter of 2015 was $119.8 million.
2015 Third-Quarter Highlights
- Produced 44,820 barrels of oil equivalent (“BOE”) per day, up about 16% from the comparable third quarter of 2014
- Reduced unit cash costs to $12.15 per BOE, a decrease of about 28% from the third-quarter 2014 rate of $16.76 per BOE, on a three-stream basis
- Continued growth of the Midland Basin pipeline system managed by Medallion Gathering and Processing, LLC (“Medallion”), which is 49%-owned by Laredo Midstream Services, LLC (“LMS”), as total volumes raised to an average of about 55,000 barrels of oil per day (“BOPD”) in the third quarter of 2015, generating cash flow to LMS of about $3.3 million
- Received $66.1 million of cash settlements on derivatives that matured in third-quarter 2015, increasing hedged pricing for oil by $33.86 per barrel and natural gas by $0.36 per thousand cubic feet, from pre-hedged average sales prices
Laredo Petroleum, Inc. operates as an independent energy company in the United States. It focuses on the acquisition, exploration, and development of oil and natural gas properties primarily in the Permian Basin in west Texas. As of December 31, 2014, it had interests in the 196,683 net acres in the Permian Basin; and had total proved reserves of 247,322 thousand barrels of oil equivalent.
Shares of Swift Transportation Co (NYSE:SWFT), inclined 1.61% to $17.02, during its last trading session.
Swift Transportation Company, declares that it will take part in the Baird 2015 Industrial Conference on Wednesday, November 11, in Chicago. The company’s presentation and Q&A negotiation will start at 10:00 a.m. (CST).
Swift Transportation Company operates as a multi-faceted transportation services company in North America. The company operates through four segments: Truckload, Dedicated, Central Refrigerated, and Intermodal. The Truckload segment provides services through one-way movements over irregular routes utilizing company’s and owner-operator tractors with dry van, flatbed, and specialized trailing equipment.
Finally, Shares of Blackstone Group LP (NYSE:BX), ended its last trade with -0.71% loss, and closed at $33.51.
Blackstone, declared that Tony James, Blackstone President and Chief Operating Officer, will present at the Bank of America Merrill Lynch Banking & Financial Services Conference in New York on Wednesday, November 18th, 2015 at about 12:45 p.m. ET.
The Blackstone Group L.P. is a publicly owned investment manager. The firm also provides financial advisory services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations. The firm manages separate client focused portfolios.