On Thursday, in the course of current trade, Shares of Antero Resources Corp (NYSE:AR), dropped -3.09%, and is now trading at $27.95.
Antero Resources, declared its second quarter 2015 operations update.
Highlights comprise:
- Average net daily gas equivalent production was 1,484 MMcfe/d, a 67% enhance over the preceding year quarter and flat quarter over quarter
- Average net daily liquids production (C3+) was 45,900 Bbl/d, a 127% enhance over the preceding year quarter and a 15% enhance sequentially
- Realized natural gas price after hedging averaged $3.86 per Mcf, a $1.22 positive differential to Nymex
- Realized C3+ NGL price after hedging averaged $19.51 per barrel (34% of WTI)
- Realized natural gas equivalent price counting NGLs, oil and hedges averaged $3.85 per Mcfe
- Planning to spud Antero’s first Utica Shale well in West Virginia in the third quarter of 2015
- Accomplished bolt-on acquisition of about 4,400 net acres with both Marcellus Shale and Utica Shale potential
- Preliminary net production growth target of 25% to 30% in 2016
Antero Resources Corporation, an independent oil and natural gas company, acquires, explores, and develops natural gas, natural gas liquids, and oil properties in the United States.
During an Afternoon trade, Shares of MBIA Inc. (NYSE:MBI), climbed 10.46%, and is now trading at $6.44.
MBIA, declared that Standard & Poor’s Ratings Services (S&P) has affirmed MBIA Inc.’s A- Issuer Credit Rating with a Stable Outlook. In its June 29 report affirming the Company’s rating, which is accessible on the Company’s website at www.mbia.com, S&P noted that the rating reflects the Company’s structural subordination to its regulated operating auxiliaries, specifically National Public Finance Guarantee Corporation (National), whose rating was affirmed at AA- with a Stable Outlook. S&P views dividends from National as the principal source of cash for the payment by the Company of debt service and operating expenses and noted that, in addition to National’s dividend payments, the continued estimated tax escrow releases under the Company’s tax-sharing agreement also support MBIA Inc.’s liquidity.
MBIA Inc. provides financial guarantee insurance services to public finance markets in the United States and internationally. The company operates through U.S. Public Finance Insurance, and International and Structured Finance Insurance segments.
Shares of Chubb Corp (NYSE:CB), during its Thursday’s current trading session fell -0.24%, and is now trading at $122.90.
A.M. Best has placed under review with negative implications the financial strength rating (FSR) of A++ (Superior) and the issuer credit ratings (ICR) of “aaa” of the property/casualty auxiliaries of The Chubb Corporation (Chubb Corp) (headquartered in Warren, NJ) [NYSE: CB], also known as the Chubb Group of Insurance Companies (Chubb Group). Conpresently, A.M. Best has placed under review with negative implications the ICR of “aa”, all long-term debt and indicative ratings and the AMB-1+ on the commercial paper of Chubb Corp. Additionally, A.M. Best has placed under review with negative implications the FSR of A++ (Superior) and the ICR of “aa+” of Chubb Atlantic Indemnity Ltd. (Chubb Atlantic) (Pembroke, Bermuda). (See below for a detailed listing of the companies and ratings.)
The rating actions follow the recent declaration that the Board of Directors of ACE Limited (ACE) (ACE) and Chubb Corp have each approved a definitive agreement under which ACE will acquire Chubb Corp for about $28 billion in cash and in shares of ACE. Each organization brings a solid reputation and strong history of favorable operating results to the merger. In addition, their business profiles are relatively complementary in terms of products offerings and customer focus, and the merger should allow each to broaden customer solutions by adapting the others’ products to their specific operations. ACE intends to finance the cash portion of the transaction through a combination of $9 billion of ACE and Chubb Corp cash plus $5.3 billion of senior notes. As a result, A.M. Best anticipates that risk-adjusted capitalization will be reduced and financial leverage raised for the merged enterprise as a result of this transaction. Additionally, there is noteworthy execution risk associated with the transaction itself and with the operational consolidation that will be required to realize the efficiencies predictable from the transaction. The negative outlook reflects the potential effect of these factors on the ratings following the close of the transaction, which is predictable during the first quarter of 2016, pending approval of ACE and Chubb Corp shareholders, and regulators, in addition to the expiration or termination of the applicable waiting period required under U.S. anti-trust regulation.
The Chubb Corporation, through its auxiliaries, provides property and casualty insurance to businesses and individuals. It offers personal insurance products for homes, valuable articles, homeowners, automobiles, and yachts; and personal liability, and personal accident and supplemental health insurance products.
Finally, Whirlpool Corporation (NYSE:WHR), gained 0.29% Thursday.
Whirlpool Corporation, declared second-quarter GAAP net earnings of $177 million, or $2.21 per diluted share, contrast to $179 million, or $2.25 per diluted share, stated for the same preceding-year period. Ongoing business earnings per diluted share(1) totaled a second quarter record $2.70, contrast to $2.62 in the same preceding-year period. The benefit of cost and capacity-reduction initiatives, favorable price/mix and benefits from the acquisition integration activities offset unfavorable currency and a weakened demand environment in Brazil.
Net sales in the quarter were a second-quarter record $5.2 billion contrast to $4.7 billion during the same preceding-year period, an enhance of over 11 percent. Not taking into account the impact of foreign currency, sales raised over 25 percent, primarily driven by the acquisitions.
Whirlpool Corporation manufactures and markets home appliances and related products worldwide. The company’s principal products comprise laundry appliances, refrigerators and freezers, cooking appliances, dishwashers, mixers, and other portable household appliances.
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