On Wednesday, Shares of Denbury Resources Inc. (NYSE:DNR), lost -13.13% to $3.11, hitting its lowest level.
Denbury Resources declared adjusted net income(1) (a non-GAAP measure) of $47 million for the second quarter of 2015, or $0.13(1)(2) per diluted share. On a GAAP basis, the Company recorded a net loss of $1.1 billion, or $3.28 per diluted share, on quarterly revenues of $374 million. Adjusted net income(1) for the second quarter of 2015 differs from GAAP net income due to the exclusion of (1) a $1.7 billion ($1.1 billion after tax) write-down of oil and natural gas properties, (2) a $173 million ($107 million after tax) loss on noncash fair value adjustments on commodity derivatives(1) (a non-GAAP measure), and (3) a $31 million income tax valuation allowance.
Denbury Resources Inc. operates as an independent oil and natural gas company in the United States. The company primarily focuses on improved oil recovery utilizing carbon dioxide. It holds properties located in Mississippi, Texas, Louisiana, and Alabama in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.
Shares of Devon Energy Corporation (NYSE:DVN), declined -3.67% to $46.95, during its last trading session, hitting its lowest level.
Devon Energy Corporation declared that its board of directors has elected Dave Hager (58), most recently Devon’s chief operating officer, as the company’s new president and chief executive officer. Hager succeeds John Richels (64), who declared plans to retire in December 2014. Hager assumed the roles of president and CEO on Aug. 1, the day after Richels’ retirement became effective.
Hager joined Devon in 2009, when he was named executive vice president of exploration and production. From 2007 until joining the company, Hager served as a member of Devon’s board of directors.
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids (NGLs) in the United States and Canada. It holds interests in various properties located in Anadarko Basin, Barnett Shale, Eagle Ford, Mississippian-Woodford Trend, Permian Basin, and Rockies in the United States, in addition to in the Jackfish and Pike heavy oil projects located in Alberta, Canada. As of December 31, 2014, the company had 689 MMBoe of proved undeveloped reserves.
Finally, CenturyLink, Inc. (NYSE:CTL), ended its last trade with 0.46% gain, and closed at $28.56.
CenturyLink stated results for second quarter 2015.
Second Quarter 2015 Highlights
- Achieved core revenues of $4.02 billion in second quarter 2015; revenue from high-bandwidth data services offered to business customers, counting MPLS3, Ethernet and Wavelength, grew more than 10% year-over-year.
- Generated free cash flow of $562 million, not taking into account special items.
- Added about 8,400 CenturyLink® PrismTM TV customers during second quarter 2015, ending the period with about 258,000 customers.
- Ended the quarter with more than 6.1 million high-speed Internet customers, a decrease of about 9,200 customers in second quarter 2015 due to typical seasonality.
- Purchased and stepped down an additional 2.5 million shares of CenturyLink common stock for nearly $90 million during second quarter 2015.
CenturyLink, Inc. provides various communications services to residential, business, governmental, and wholesale customers in the United States. It operates through two segments, Business and Consumer.
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