On Monday, Shares of Penn West Petroleum Ltd (USA) (NYSE:PWE), gained 26.08% to $0.807.
Penn West Petroleum, is happy to declare that it has reached a definitive agreement for the sale of its non-operated 9.5% working interest in the Weyburn Unit in Southeast Saskatchewan for cash consideration of $205 million, subject to closing adjustments customary in transactions of this nature. We intend to use the proceeds from this disposition to reduce our senior debt. Upon the completion of the sale of our Weyburn Unit working interest, we will have raised about $810 million in total proceeds this year through our non-core asset disposition program.
Updated 2015 Production Guidance
As a result of the divestiture of both our Weyburn Unit working interest and our Mitsue properties, formerly declared on September 15, we have updated our annual production guidance range to 84,000 – 88,000 boe/d from 86,000 – 90,000 boe/d. Our capital budget for the year remains unchanged at $500 million. We continue to expect our operating costs for the year to be between $19.25/boe and $19.75/boe with our G&A for the year to be between $2.80/boe and $3.05/boe.
Penn West Petroleum Ltd. (Penn West) is a Canada-based senior exploration and production company. The Company operates to explore for, develop and hold interests in oil and natural gas properties and related production infrastructure in the Western Canada sedimentary basin directly and through investments in securities of subsidiaries holding such interests.
Shares of Wal-Mart Stores, Inc. (NYSE:WMT), inclined 1.32% to $65.84, during its last trading session.
Wal-Mart officials and local and state dignitaries attended a sneak preview event of Walmart’s new eCommerce fulfillment center in Atlanta, Ga. The new facility is dedicated to filling online orders and is the latest addition to the next-generation fulfillment network Walmart is building to support its rapidly growing eCommerce business.
The 1.2 million sq. ft. facility in Union City, just south of Atlanta, is the third large-scale eCommerce fulfillment center to open in the U.S. in as many months, and features state-of-the-art automation and warehousing systems. When fully operational, the facility will create nearly 400 full-time jobs in Fulton County. The new large scale centers, counting the Atlanta facility, will join existing, smaller eCommerce fulfillment centers, store distribution centers, 4,500 Walmart stores and the company’s world-class transportation fleet to ship online orders fast and efficiently to customers around the country.
Wal-Mart Stores, Inc. is engaged in the operation of retail, wholesale and other units in various formats around the world. The Company offers an assortment of merchandise and services at everyday low prices (EDLP). The Company’s operations are conducted in three segments: Walmart U.S., Walmart International and Sam’s Club.
Shares of Genesee & Wyoming Inc (NYSE:GWR), inclined 7.37% to $65.86, during its last trading session.
Genesee & Wyoming, declares the following conference call and webcast:
WHAT: G&W Q3 2015 Financial Release Conference Call
WHEN: October 30, 2015, at 11 a.m. EDT
Genesee & Wyoming Inc. owns and operates short line and regional freight railroads, and provides railcar switching and other rail-related services in the United States, Australia, Canada, the Netherlands and Belgium.
Finally, Global Net Lease Inc (NYSE:GNL), ended its last trade with -0.33% loss, and closed at $9.11.
Global Net Lease, declared recently it has reached its second half 2015 investment aim of $200 million by concluding the acquisition of five net lease properties in two separate transactions for about $110.8 million in addition to the $95.3 million of real estate already purchased in the second half.
Recent Transaction Highlights
- Total Purchase Price: About $110.8 million
- Recent Properties Purchased: Five properties totaling 834,865 net rentable square feet, counting:
- Office Depot European Headquarters: A build-to-suit office building located in Venlo, the Netherlands, and net leased to Office Depot International B.V., a wholly-owned partner of Office Depot Inc., who has occupied the property since 1998. This property serves as the tenant’s European headquarters and comprises 178,584 net rentable square feet with a remaining lease term of 13.4 years.
- Finnair Net Leased Properties: Four industrial/logistics buildings located at Helsinki Airport, Finland, totaling 656,281 net rentable square feet with combined remaining lease terms of about nine years. The buildings are all net leased to Finnair Plc., the national airline of Finland and one of the world’s largest operating airlines with over 70 destinations worldwide to Europe, Australasia and North America. Finnair Plc. is majority owned by the AAA Moody’s-rated Finnish government.
- Total Current Annual Rent: About $9.4 million
- Initial NOI Yield: 8.5%
Global Net Lease, Inc., formerly American Realty Capital Global Trust, Inc., is a real estate investment trust (REIT) that focuses on acquiring and managing a portfolio of single tenant net lease commercial properties across the United States, Western and Northern Europe.
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