On Thursday, Shares of Kinder Morgan, Inc. (NYSE:KMI), gained 1.40% to $32.69, hitting its lowest level.
A partner of Kinder Morgan declared the start of a binding open season to solicit interest for incremental firm natural gas transportation service on its Mier-Monterrey pipeline, which would expand capacity to about 1.340 billion cubic feet per day. The expansion project, which would be accomplished by the fourth quarter of 2017, will comprise of the looping of the existing Mier-Monterrey pipeline system from the Mexico-United States border to Huinalá, Nuevo León, Mexico, and a new lateral from Pesquería, Nuevo León, Mexico, to Escobedo, Nuevo León, Mexico.
“We received noteworthy interest from our initial open season on this project as natural gas demand in Mexico continues to enhance,” said Kinder Morgan Natural Gas Midstream President Duane Kokinda. “The projected looping project utilizes and expands upon our existing assets to provide a low-cost option for additional capacity to transport natural gas produced in the United States to the growing industrial and power-generating markets in and around Monterrey, Nuevo León.”
The open season bid period starts on Aug. 13, 2015, and ends at 5 p.m. Central Time on Aug. 22, 2015. Interested parties should submit their written request for the Binding Bidding Guidelines to Alex Araya, director of marketing and transport for Kinder Morgan Midstream, at [email protected] or (713) 369-8820.
Kinder Morgan, Inc. operates as an energy infrastructure and energy company in North America. The company operates through Natural Gas Pipelines, CO2, Terminals, Products Pipelines, Kinder Morgan Canada, and Other segments.
Shares of Continental Resources, Inc. (NYSE:CLR), inclined 8.12% to $34.61, during its last trading session.
Continental Resources declared second quarter 2015 operating and financial results.
Continental stated net income of $0.4 million, or $0.00 per diluted share, for the second quarter of 2015. Adjusted net income for the second quarter of 2015 was $48.5 million, or $0.13 per diluted share.
EBITDAX for the second quarter of 2015 was $647 million, contrast with EBITDAX of $868 million for the second quarter of 2014, reflecting the decline in average commodity prices since June 2014, partially offset by raised production.
“Continental had a very productive quarter with strong production growth that reflects our best-in-class inventory,” said Harold Hamm, Chairman and Chief Executive Officer. “Our teams are performing very efficiently, and consequently we are revising 2015 guidance to reflect raised production and lower operating costs. While we’re not formally changing guidance on capital expenditures, we are presently trending about $150 million under budget for the year.
“We are reporting outstanding results for our first STACK well in Oklahoma, the Ludwig 1-22-15XH in Blaine County,” Mr. Hamm said. “Early production has been strong, flowing 76% oil with a rich natural gas stream, validating our view of STACK as another large, long-term growth driver for Continental.”
Continental Resources, Inc. explores, develops, and produces crude oil and natural gas properties in the north, south, and east regions of the United States. The company sells its crude oil production to end users, in addition to midstream marketing companies or crude oil refining companies at the lease.
Finally, New Residential Investment Corp. (NYSE:NRZ), ended its last trade with -4.01% loss, and closed at $14.61.
New Residential Investment Corp., declared preliminary results for the second quarter ended June 30, 2015.
Core earnings for the second quarter 2015 are predictable to be in the range of $0.43 to $0.47 per share. GAAP earnings for the second quarter 2015 are predictable to be in the range of $0.35 to $0.39 per share.
Michael Nierenberg, Chief Executive Officer of New Residential commented, “In light of our recent acquisition of HLSS, the Company rescheduled its earnings to Monday, August 10, 2015.”
“In the second quarter, we continued to execute on our core strategy and we look forward to reporting our results and updating our shareholders on Monday.”
New Residential Investment Corp., a real estate investment trust (REIT), focuses on investing in and managing residential mortgage related assets. It operates through Servicing Related Assets, Residential Securities and Loans, and Other Investments segments.
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