On Wednesday, Chesapeake Energy Corporation (NYSE:CHK)’s shares inclined 13.81% to $8.98.
Chesapeake Energy Corporation (CHK) declared it has finalized new gas gathering agreements with the Williams Companies (WMB) in its Haynesville Shale operating area located in northwest Louisiana and its dry gas Utica Shale operating area located in eastern Ohio. Key attributes comprise:
- Noteworthy improvement in per unit gathering rates established in two major growth assets starting in 2016, leading to improved volume growth.
- Combination of gathering system agreements allows Chesapeake to satisfy minimum volume commitment (MVC) obligations in Haynesville Shale, increasing realized pricing per mcf of gas.
- Aligned planned interests improve drilling economics, operational efficiency and midstream asset utilization.
Chesapeake will move to a fixed-fee agreement in the Haynesville Shale starting in January 2016. Gas gathering fees in the Haynesville will be reduced on a unit basis, and the existing minimum volume obligations are predictable to be met with the consolidation of two gathering systems and a projected enhance in Haynesville area volumes. Inclusive of formerly predictable MVC shortfall payments, the company’s gas production is predictable to see improved gathering rates of about $0.20 per mcf in 2016 and 2017 and about $0.30 per mcf in 2018 and beyond. As part of the transaction, and comprising with Chesapeake’s current operating plans, the company committed to turn 140 equivalent wells online before the end of 2017. This commitment is projected to result in noteworthy production growth in the Haynesville Shale asset over the next two years, thus also increasing Williams’ revenue from the area.
Chesapeake Energy Corporation produces oil and natural gas through acquisition, exploration, and development of from underground reservoirs in the United States. It holds interests in natural gas resource plays, counting the Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin of West Virginia and Pennsylvania; and the Barnett Shale in the Fort Worth Basin of north-central Texas.
Applied Materials, Inc. (NASDAQ:AMAT)’s shares gained 1.57% to $16.17.
Applied Materials, Inc. declared that its Board of Directors has approved a quarterly cash dividend of $0.10 per share payable on the company`s common stock. The dividend is payable on December 10, 2015 to stockholders of record as of November 19, 2015.
Applied Materials, Inc. provides manufacturing equipment, services, and software to the semiconductor, flat panel display, solar photovoltaic (PV), and related industries worldwide. The company’s Silicon Systems Group segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
At the end of Wednesday’s trade, Noble Energy, Inc. (NYSE:NBL)‘s shares surged 5.42% to $33.26.
Noble Energy, Inc. ( NBL) declared that Kenneth M. Fisher, the Company’s Executive Vice President & CFO, will present at the Johnson Rice & Company Energy Conference on Tuesday, September 29, 2015 at 8:30a.m. Central Time.
Noble Energy, Inc., an independent energy company, engages in the acquisition, exploration, and production of crude oil, natural gas, and natural gas liquids worldwide. Its principal projects are located in onshore DJ Basin and Marcellus Shale, the United States; the deepwater Gulf of Mexico; offshore West Africa; and offshore Eastern Mediterranean.
Annaly Capital Management, Inc. (NYSE:NLY), ended its Wednesday’s trading session with 0.39% gain, and closed at $10.20.
Annaly Capital Management, Inc. (NLY) declared that its wholly-owned partner Annaly Commercial Real Estate Group, Inc. has offered a $592 million loan to an associate of Blackstone Real Estate Partners VIII, and their partner Fairstead Capital for the purchase of a 24 building New York City multi-family apartment portfolio.
Annaly capitalized on Blackstone’s strong relationship with the institutional commercial real estate origination team that recently joined Annaly from GE Capital Real Estate.
Annaly Capital Management, Inc. owns a portfolio of real estate related investments in the United States. The company invests in various types of agency mortgage-backed securities and related derivatives to hedge these investments; acquires, finances, and manages commercial mortgage loans and other commercial real estate debt, commercial mortgage-backed securities, and other commercial real estate-related assets; and operates as a broker-dealer.
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