(XCO) (XPO) (WFM) Active News Update: EXCO Resources (NYSE:XCO), XPO Logistics (NYSE:XPO), Whole Foods Market (NASDAQ:WFM)
On Monday, Shares of EXCO Resources Inc (NYSE:XCO), lost -9.68% to $1.12. The stock attained the volume of 3.44 million shares.
EXCO Resources, Inc. (XCO) released interim reserve information, which presents the Company’s estimated proved reserves and the present value of estimated future net revenues as of June 30, 2015. The proved reserves and PV-10 data in the Interim Reserve Update were based on June 30, 2015 NYMEX futures prices, in each case adjusted for geographical and historical differentials.
The Interim Reserve Update was furnished by the Company under a confidentiality agreement to certain holders of the Company’s outstanding 7.5% Senior Unsecured Notes due 2018 and 8.5% Senior Unsecured Notes due 2022 in connection with negotiations concerning a potential debt restructuring transaction. The Interim Reserve Update revealed that the Company’s total PV-10 as of June 30, 2015 was about $967.0 million and that the Company’s total proved reserves were about 1,217 Bcfe. The Company’s calculation of PV-10 in the Interim Reserve Update comprises $137.0 million of transportation commitments allocated to proved reserves.
As formerly revealed in the Company’s Current Report on Form 8-K dated July 28, 2015, the Company reached the Fifth Amendment (the “Fifth Amendment”) to its Amended and Restated Credit Agreement among the Company, certain of its auxiliaries, JPMorgan Chase Bank, N.A., as administrative agent, and certain lenders party thereto (as amended, the “Credit Agreement”). Among other terms, the Fifth Amendment permits the Company to incur additional indebtedness, counting indebtedness secured by liens on the same collateral securing indebtedness under the Credit Agreement and other permitted second lien debt. Upon the initial incurrence of second or third lien debt with an aggregate principal amount of at least $700.0 million, the revolving commitments and borrowing base under the Credit Agreement will be reduced to $362.5 million. In addition, the Fifth Amendment provides that, following the date on which the Company receives at least $300.0 million in cash proceeds from the incurrence of any second lien debt, third lien debt or equity issuance, the interest and other fee rates under the Credit Agreement will enhance and certain financial covenants will be terminated or amended. The Fifth Amendment also allows for the exchange or repurchase of a portion of the Company’s Notes in certain circumstances and subject to certain limitations. Presently, the Company is limited to about $1.2 billion of secured indebtedness capacity under the Indenture governing the Notes.
EXCO Resources, Inc., an independent oil and natural gas company, engages in the acquisition, exploration, exploitation, development, and production of onshore oil and natural gas properties with a focus on shale resource plays in the United States.
Shares of XPO Logistics Inc (NYSE:XPO), dropped -5.58% to $28.25, during its last trading session.
The stock saw its price movement on below-normal volume, as 1.89 million shares changed hands when contrast with its average daily volume of 2.41 million shares, with a year-to-date performance of -30.90%.
XPO Logistics, Inc. (XPO) will hold its third quarter conference call and webcast on Thursday, November 5, 2015, at 8:30 a.m. Eastern Time. The company`s results will be released after market close on November 4 and made accessible on www.xpo.com.
XPO Logistics, Inc. provides transportation and logistics services primarily in the United States. The company operates through two segments, Transportation and Logistics.
Finally, Whole Foods Market, Inc. (NASDAQ:WFM), ended its last trade with -1.72% loss, and closed at $33.65.
Whole Foods Market, Inc. (WFM) declared it will issue financial results for the Company’s fourth fiscal quarter ending September 27, 2015, after the market closes on Wednesday, November 4, 2015. Following the release via the wire services, the Company will host a conference call with financial analysts and investors from 4:00 - 4:45 p.m. (CT).
Whole Foods Market, Inc. operates as a retailer of natural and organic foods. The company’s stores offer produce and floral, grocery, meat, seafood, bakery, prepared foods and catering, coffee, tea, beer, wine, cheese, nutritional supplements, vitamins, and body care products, in addition to lifestyle products, counting books, pet products, and household products.
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