Oil costs confronted sharp instability a week ago in the midst of tenacious oversupply concerns, while metals pointed higher as Chinese exchanging grabbed after the Lunar New Year,
Saudi Arabia’s stock benchmark Tadawul All Share Index edged up 0.42 percent as petrochemicals monster Saudi Basic Industries climbed 0.2 percent after oil costs energized on Friday.
Insights about those basic material sector stocks that gained during Friday’s trade, are depicted underneath:
TETRA Technologies, Inc. (NYSE:TTI)’s shares picked up 19.88%, and closed at $5.97, during the last trading session, soon after the news release that a geographically diversified oil and gas services company, declared fourth quarter 2014 earnings per share of $0.09, not including Maritech and other charges, which compares to $0.12 per share in the fourth quarter of 2013, also not including Maritech and other charges. Fourth quarter 2014 proceed of $316 million raised 40% from the fourth quarter of 2013 primarily as a result of the attainment of Compressor Systems, Inc. on August 4, 2014 by CSI Compressco LP. Merged GAAP fourth quarter 2014 earnings per share to TETRA stockholders counting Maritech and other charges was a loss of $(1.90) with 78.9 million weighted average ordinary shares outstanding, which compares to the fourth quarter of 2013 loss of $(0.13) with 78.2 million weighted average ordinary shares outstanding.
Highlights of the 2014 fourth quarter comprise:
- Fourth quarter adjusted free cash flow, not including the CSI Compressco LP free cash flow and Maritech asset retirement obligations (ARO) cash settlements, was $57 million due to lower capital expenditures and improvements in working capital administration in addition to adjusted earnings being consistent with the fourth quarter guidance that was offered on November 7, 2014. Adjusted TETRA free cash flow for 2014 was $86 million;
- Adjusted Production Testing pre-tax margins were 15.5%, up sequentially from 6.8% in the third quarter of 2014 reflecting the cumulative influence of actions to expand and diversify the customer base, reposition equipment and cost reductions;
- Continued improvements in the Fluids Division driven by stronger completion fluids volumes onshore and offshore (Gulf of Mexico and internationally) in addition to improved results in chemical product sales;
- The Compression Division stated adjusted EBITDA of $34 million, inclusive of results from the attainment of CSI, which are consistent with our attainment economics. On January 22, 2015, CSI Compressco LP declared a quarterly distribution of $0.485 per unit, with a coverage ratio of 1.71x;
- Fourth quarter goodwill and other asset impairments, transaction costs, and Maritech’s net loss totaled $1.99 per share.
SemGroup Corporation (NYSE:SEMG), raised 8.76%, and closed at $77.31, soon after the news release that Rose Rock Midstream(R), L.P. (RRMS) declared its financial results for the three months ended December 31, 2014. Rose Rock Midstream stated fourth quarter 2014 Adjusted EBITDA of $43.5 million, contrast to $31.0 million for the third quarter 2014 and $21.0 million for the fourth quarter 2013, an raise of 40% over the previous quarter and more than doubling results year-over-year.
Contrast to the Third Quarter 2014:
- $9 million raise in marketing margin related to higher volumes and realized gains on derivatives,
- $6 million raise in cash distributions received from White Cliffs Pipeline resulting from a full quarter of distributions and raised volumes,
- $2 million raise in transportation margin as a result of higher volumes,
- $4 million decrease due to raised operating and administrative expenses, primarily related to field services operations.
Adjusted gross margin was $45.9 million for the fourth quarter 2014, up 12% from the third quarter 2014 of $40.9 million and 29% above fourth quarter 2013 Adjusted gross margin of $35.6 million. Adjusted gross margin and Adjusted EBITDA, which are non-GAAP measures, are reconciled to their most directly comparable GAAP measures below.
Fourth quarter 2014 net revenue attributable to Rose Rock totaled $14.8 million, contrast to $16.5 million for the third quarter 2014 and $6.2 million for the fourth quarter 2013.
Rose Rock Midstream(R), L.P. (RRMS) is a growth-oriented Delaware limited partnership formed by SemGroup(R) Corporation (SEMG) to own, operate, develop and attain a diversified portfolio of midstream energy assets. Headquartered in Tulsa, OK, Rose Rock Midstream provides crude oil gathering, transportation, storage and marketing services with the majority of its assets planned ally located in or connected to the Cushing, Oklahoma crude oil marketing hub.
Peabody Energy Corp. (NYSE:BTU), enhanced 6.33%, and closed at $7.90, as the the world’s largest private-sector coal company and a global leader in sustainable mining, energy access and clean coal solutions, has been recognized for its global leadership creating sustainable energy solutions at the 5th World PetroCoal Congress in New Delhi. The company was honored with an Energy and Environment Foundation Global Excellence Award for advancing clean coal technology solutions under the leadership of Peabody Chairman and Chief Executive Officer Gregory H. Boyce.
“Advancing social and economic progress with clean energy is the role of leaders globally,” Boyce said. “India is a prime example of a nation asserting its right to grow and creating energy access for all of its citizens. Clean energy from coal is a major part of the solution and will be essential to achieving that aim.”
Under Boyce’s leadership, Peabody has:
- Advanced a multi-step plan to alleviate global energy poverty with clean energy solutions as a major priority for policy and action;
- Led development of one of the largest new clean U.S. coal-fueled plants built in the past three decades with $1 billion in emission control technologies;
- Served as the only non-Chinese partner in the signature GreenGen power plant and carbon research center in Tianjin, China, which could be the world’s largest near-zero emissions coal plant at full scale;
- Served as a founding member of the FutureGen Alliance in the United States to advance carbon capture and storage technology and contributed $20 million to Australia’s Coal21 Fund for next-generation coal technologies;
- Sponsored the Consortium for Clean Coal Utilization at Washington University in St. Louis, the National Carbon Capture Center in Alabama, and was a founding member of the Global Carbon Capture and Storage Institute in Australia;
- Delivered low-carbon solutions across Peabody’s global platform with a 10 percent reduction in greenhouse gas intensity across the global platform this past year; and
- Worked to raise public awareness and support of 21st century coal and the essential role it plays in advancing economic progress and a better quality of life through a globally-recognized advocacy initiative.
Peabody Energy Corp. (NYSE:BTU), is the world’s largest private-sector coal company and a global leader in sustainable mining, energy access and clean coal solutions. The company serves metallurgical and thermal coal customers in more than 25 countries on six continents.
Goodrich Petroleum Corp. (NYSE:GDP), enhanced 5.66%, and closed at $4.48, soon after the news release that an independent oil and natural gas exploration and production company listed on the New York Stock Exchange, declared the Company’s administration team will present at the following conferences in March of 2015.
The Company’s administration team will present at the Raymond James 36th Annual Institutional Investors Conference at the JW Marriott Grande Lakes located at 4040 Central Florida Parkway in Orlando, Florida on Monday, March 2, 2015 at 1:05 PM ET. The presentation will be webcast through the following link: http://wsw.com/webcast/rj95/gdp.
The Company’s administration team will present at the 43rd Annual Scotia Howard Weil Energy Conference at The Roosevelt New Orleans Hotel located at 130 Roosevelt Way in New Orleans, Louisiana on Monday, March 23, 2015 at 3:20 PM CT.
Goodrich Petroleum Corp. (NYSE:GDP), Goodrich Petroleum Corporation, an independent oil and natural gas company, is engaged in the exploration, development, and production of oil and natural gas. The company holds interest in the Eagle Ford Shale Trend located in South Texas; the Haynesville Shale and Cotton Valley Taylor Sand in northwest Louisiana and East Texas.
