COPPER slid prior on Friday after sharp increments in inventories activated worries about oversupply, yet bullish speculators got the high ground and pushed it into positive domain by the nearby.
Nickel slid 2.1 every penny to complete at $US14,075 a ton, while tin shed 0.8 every penny to $US17,950 and zinc, untraded in shutting rings, was offered down 0.3 every penny at $US2,065.
Insights about those basic material sector stocks that remained active during Friday’s trade, are depicted underneath:
Chesapeake Energy Corporation (NYSE:CHK)’s shares declined -3.02%, and closed at $16.68, during the last trading session, soon after the news release a natural gas and oil exploration and production company, stated financial and operational results for the 2014 full year and fourth quarter and declared details of its 2015 Outlook and capital expenditure program. Highlights comprise:
- 2014 adjusted net revenue of $1.49 per fully diluted share and 2014 adjusted ebitda of $4.945 billion
- Average 2014 production of about 706,000 boe per day, an raise of 9% year over year, adjusted for asset sales
- Planned 2015 total capital expenditures ranging from $4.0 to $4.5 billion
- Projected 2015 production growth of 3 5%, adjusted for asset sales.
2014 Full-Year Results:
- For the 2014 full year, Chesapeake stated net revenue accessible to ordinary stockholders of $1.273 billion, or $1.87 per fully diluted share. Items typically excluded by securities analysts in their earnings estimates raised net revenue accessible to ordinary stockholders for the 2014 full year by about $316 million and are presented on Page 14 of this release. The primary component of this raise was unrealized gains on the company’s oil and natural gas commodity derivatives, partially offset by the redemption of all the outstanding preferred shares of a partner. Adjusting for these items, 2014 full-year adjusted net revenue accessible to ordinary stockholders was $957 million, or $1.49 per fully diluted share, contrast to adjusted net revenue accessible to ordinary stockholders of $965 million, or $1.50 per fully diluted share, in the 2013 full year.
- Adjusted ebitda was $4.945 billion for the 2014 full year, contrast to $5.016 billion for the 2013 full year. Operating cash flow, which is defined as cash flow offered by operating activities before changes in assets and liabilities, was $5.026 billion for the 2014 full year, contrast to $4.958 billion for the 2013 full year.
- Adjusted net revenue accessible to ordinary stockholders, operating cash flow, ebitda and adjusted ebitda are non-GAAP financial measures. Reconciliations of these measures to comparable financial measures calculated in accordance with generally accepted accounting principles are offered on pages 13 17 of this release.
- Chesapeakes daily production for the 2014 full year averaged 706,300 barrels of oil equivalent (boe), a year-over-year raise of 9%, adjusted for asset sales. Average daily production comprised of about 115,800 barrels (bbls) of oil, 3.0 bcf of natural gas and 90,500 bbls of NGL. Adjusted for asset sales, 2014 full-year average daily oil production raised 7%, average daily natural gas production raised 6% and average daily NGL production raised 42%.
Chesapeake Energy Corporation (NYSE:CHK), is the second-largest producer of natural gas and the 11th largest producer of oil and natural gas liquids in the U.S. Headquartered in Oklahoma City, the company’s operations are focused on discovering and developing its large and geographically diverse resource base of unconventional oil and natural gas assets onshore in the U.S.
Denbury Resources Inc. (NYSE:DNR), raised 0.24%, and closed at $8.40, after a growing, dividend-paying, domestic oil and natural gas company, declared adjusted net revenue(1) (a non-GAAP measure) of $93 million for the fourth quarter of 2014, or $0.27 per diluted share. On a GAAP basis, the Company recorded quarterly net revenue of $364 million, or $1.04 per diluted share, on quarterly proceeds of $480 million. Adjusted net revenue(1) for the fourth quarter of 2014 differs from GAAP net revenue primarily due to the exclusion of a $451 million (pre-tax) gain on noncash fair value adjustments on commodity derivatives (a non-GAAP measure).
Denbury’s total production for the fourth quarter of 2014 averaged 74,875 barrels of oil equivalent per day (“BOE/d”), a 5% raise over fourth quarter of 2013 levels. Tertiary production for the fourth quarter of 2014 averaged 41,873 Bbls/d, up about 8% from the preceding-year fourth quarter amounts, as production raises at Bell Creek, Oyster Bayou, Tinsley, Heidelberg and Hastings fields more than offset production declines in mature properties and the reversionary assignment of about 25% of our interest in the Delhi Field. Fourth quarter of 2014 production was 95% oil, unchanged from the same preceding-year period. Denbury’s average annual production rate for 2014 was 74,432 BOE/d, up 6% from the preceding year’s level primarily due to production raises from the Company’s tertiary oil fields in 2014 and receiving only nine months of production in 2013 from the purchase of additional interests in Cedar Creek Anticline in late March 2013.
Phil Rykhoek, Denbury’s President and CEO, commented, “The noteworthy decrease in global oil prices during the second half of 2014 and early 2015 have influenced the entire industry. However, we have seen this happen before and therefore we have taken what we believe are prudent and proactive measures in this uncertain price environment to preserve our liquidity and financial strength, such as our earlier decisions to reduce 2015 capital spending by about 50% and to maintain our dividend rate at the same level as in 2014. As we look back upon 2014, we see a year in which oil prices reached $107 per barrel (“Bbl”) mid-year, then proceeded to fall over 50% by year end, and further to the mid-$40 per barrel range in the new year. The magnitude of this price drop in such a short period of time obviously presents many challenges in planning for both our near-term and long-term development projects. We believe that our adjustments to capital and dividends, coupled with Denbury’s strong hedge position, will generate more than adequate cash flows to cover capital expenditures and dividends in 2015 at current strip prices.
Denbury Resources Inc. (NYSE:DNR), is a growing, dividend-paying, domestic oil and natural gas company with 468.3 MMBOE of estimated oil and natural gas reserves as of December 31, 2013, of which 83% is oil. The Company’s operations are focused in two key operating areas: the Gulf Coast and Rocky Mountain regions. At December 31, 2013, it had 1,501 employees, 807 of whom were employed in field operations.
Alcoa Inc (NYSE:AA), dipped -2.12%, and closed at $14.79, following the news release that the company engaged in lightweight metals engineering and manufacturing, has once again been named the most admired metals company in the world by Fortune magazine. This is the fourth year in a row that Alcoa has been awarded the top position in the Metals category in the magazine’s annual ranking on corporate reputation. Alcoa has been on Fortune’s Most Admired List since the publication began its annual ranking more than 30 years ago.
Alcoa received top scores in the following key attributes: use of corporate assets, financial soundness, long-term investment value, quality of products and services, and global competitiveness.
“Fortune’s recognition is a tribute to our 59,000 employees who, through their tireless pursuit of excellence, innovative products and strong customer focus, have made Alcoa the top metals company for four successive years,” said Alcoa Chairman and Chief Executive Officer Klaus Kleinfeld. “It is also extremely gratifying to be named the world’s most admired metals company as we aggressively transform Alcoa, building our innovative value-add portfolio for greater profitable growth, while creating a globally competitive commodity business.”
Alcoa Inc (NYSE:AA), is engaged in lightweight metals engineering and manufacturing. The Company’s products, which comprise aluminum, titanium and nickel are used in aircraft, automobiles, commercial transportation, packaging, building and construction, oil and gas, defense, consumer electronics and industrial applications. It also produces and manages primary aluminum, fabricated aluminum and alumina combined, through its active participation in the aspects of the industry counting technology, mining, refining, smelting, fabricating, and recycling.
Southwestern Energy Co. (NYSE:SWN), dwindled -4.82%, and closed at $25.08, soon after the news release that an independent energy company engaged in natural gas and oil exploration, development and production (E&P), declared that its Board of Directors declared a quarterly dividend of $14.5833 per share on its 6.25% Series B Mandatory Convertible Preferred Stock, payable on April 15, 2015, to holders of record on April 1, 2015. This equates to $0.72917 for each depositary share, which represents a 1/20th interest in a share of the Series B preferred stock. The dividend is for the initial dividend period starting on January 21, 2015 and ending on April 14, 2015.
Southwestern Energy Co. (NYSE:SWN), is an independent energy company whose wholly-owned auxiliaries are engaged in natural gas and oil exploration, development and production, natural gas gathering and marketing.




