Brent crude climbed $2.53 to $62.58 a barrel on Friday and February’s 18 percent addition was the greatest month to month rate climb since May 2009.
A decrease in apparatus include and sound development Chinese request not long from now upheld costs. China’s inferred oil interest is situated to grow 3% in 2015, as per China National Petroleum.
Insights about those basic material sector stocks that gained during Friday’s trade, are depicted underneath:
Northern Oil and Gas, Inc. (NYSE:NOG)’s shares picked up 5.64%, and closed at $8.62, during the last trading session, soon after the news release that an independent energy company, declared 2014 fourth quarter and full year results, year-end proved reserves, and 2015 production and capital budget guidance.
2014 HIGHLIGHTS:
- Annual production raised 29% to 5.8 million barrels of oil equivalent (“Boe”), or 15,794 average Boe per day
- Fourth quarter production raised 29% year-over-year to 17,985 average Boe per day
- 2014 oil and gas sales raised 17% to $431.6 million
- Proved reserves raised 20% to 100.7 million Boe and pre-tax PV-10 reached $1.7 billion
- Added 589 gross (41.6 net) producing wells, bringing total producing wells to 2,338 gross (185.7 net)
- Year-end liquidity totaled about $261.3 million, comprised of $252 million of revolving credit facility availability and $9.3 million in cash
- Exited 2014 with 4.9 million total barrels hedged for 2015 and the first half of 2016 at an average swap price of $89.53 per barrel.
Northern’s 2014 GAAP net revenue was $163.7 million, or $2.69 per diluted share, contrast to $53.1 million, or $0.85 per diluted share in 2013. Adjusted Net Revenue for 2014 was $57.5 million, or $0.95 per diluted share, as contrast to $66.4 million, or $1.06 per diluted share, for 2013. Adjusted EBITDA for 2014 was $309.6 million, an raise of 16% when contrast to 2013.
“I am very proud of our accomplishments during 2014,” commented Northern’s Chairman and Chief Executive Officer, Michael Reger. “Over the course of the year, we achieved 29% year-over-year production growth and 20% growth in our proved reserves, while maintaining a strong financial position. Our continued focus on capital discipline has driven improvements in our overall well productivity and the growth of our proved reserve base. That capital discipline, combined with our hedging position in 2015 and the first half of 2016, puts Northern in a strong liquidity position to weather the current downturn in commodity prices. We will continue to be judicious with our capital in this environment and plan to raise our investments as commodity prices improve.”
Northern Oil and Gas, Inc., an independent energy company, is engaged in the attainment, exploration, development, and production of oil and natural gas properties in the United States.
Basic Energy Services, Inc. (NYSE:BAS), raised 5.53%, and closed at $7.44, after the company declared that its administration will be presenting at the Raymond James 36th Annual Institutional Investors Conference to be held in Orlando, Florida from March 1-4, 2015.
Roe Patterson, President and Chief Executive Officer, is planned to present on Tuesday, March 3, 2015 at about 10:25 a.m. Eastern Time (9:25 a.m. Central Time). The accompanying presentation will be accessible that morning in the Investor Relations section of Basic’s website at www.basicenergyservices.com.
Basic Energy Services, Inc. (NYSE:BAS), provides well site services essential to maintaining production from the oil and gas wells within its operating area. The company employs more than 5,400 employees in more than 100 service points throughout the major oil and gas producing regions in Texas, Louisiana, Oklahoma, New Mexico, Arkansas, Kansas, and the Rocky Mountain and Appalachian regions.
U.S. Silica Holdings, Inc. (NYSE:SLCA), enhanced 5.50%, and closed at $32.41, soon after the news release that a producer of industrial minerals, declared net revenue of $33.2 million or $0.62 per basic share and $0.61 per diluted share for the fourth quarter ended Dec. 31, 2014 contrast with net revenue of $16.5 million or $0.31 per basic and diluted share for the fourth quarter of 2013. Not including business development expense during the quarter of about $6.5 million or $0.10 per basic share, EPS was $0.72 per basic share. The quarter was also negatively influenced by a meaningful raise in bad debt expense of $6.9 million mostly related to the Company’s assessment of a certain customer’s current ability to pay its obligation to the Company.
Full Year 2014 Highlights:
Total Company
- Proceed totaled $876.7 million contrast with $546.0 million for the full year of 2013, an improvement of 61%.
- Overall tons sold raised to 10.9 million tons, an raise of 34% over 2013 totals.
- Selling, general and administrative expense for the year totaled $89.0 million or 10% of proceed contrast with $49.8 million or 9% of proceed for the full year 2013.
- Contribution margin was $317.2 million contrast with $202.9 million for the full year 2013.
- Adjusted EBITDA was $246.2 million contrast with $160.7 million for the full year 2013.
- Net revenue was $121.5 million or $2.26 per basic share and $2.23 per diluted share contrast with $75.3 million or $1.42 per basic share and $1.41 per diluted share for the full year 2013.
U.S. Silica Holdings, Inc. (NYSE:SLCA), a member of the Russell 2000, is a leading producer of commercial silica used in the oil and gas industry, and in a wide range of industrial applications. Over its 115-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 260 products to customers across our end markets.
Delek US Holdings, Inc. (NYSE:DK), enhanced 3.13%, and closed at $37.28, hitting new 52-week high of $37.46, soon after the news release that an integrated energy business focused on petroleum refining, the transportation, storage and wholesale of crude oil and intermediate and refined products and convenience store retailing, declared financial results for its fourth quarter ended December 31, 2014. Delek US stated fourth quarter net revenue of $37.5 million, or $0.64 per diluted share, as compared to a net loss of $(4.7) million, or $(0.08) per basic share, in the quarter ended December 31, 2013.
Operating revenue for the fourth quarter 2014 benefited from $60.9 million of net hedging gains, of which $42.6 million were realized. Those gains partially offset $72.9 million of higher cost related to inventory adjustments resulting from a decline in crude oil and product prices during the quarter. Not including the influence of inventory adjustments and net unrealized hedging gains, fourth quarter 2014 after-tax earnings would have been higher by $37.7 million.
For the full year 2014, Delek US stated net revenue of $198.6 million, or $3.35 per diluted share, contrast to net revenue of $117.7 million, or $1.96 per diluted share in 2013.
Uzi Yemin, Chairman, President and Chief Executive Officer of Delek US stated, “We performed well in the fourth quarter across all three operating segments. Our access to local markets for our refined products, a diversified crude slate and lower cost crude that benefited asphalt margins, combined with raised throughput, improved our refining performance year-over-year. This improvement occurred in the face of more challenging market conditions for refining as measured by a decline in the 5-3-2 crack spread. Our logistics segment benefited from a strong west Texas wholesale margin, while a higher fuel margin raised results in our retail segment contrast to the fourth quarter 2013.”
Delek US declared recently that its Board of Directors declared its regular quarterly cash dividend of $0.15 per share. Shareholders of record on March 10, 2015 will receive this cash dividend payable on March 24, 2015.
Delek US Holdings, Inc. (NYSE:DK), is a diversified downstream energy company with assets in petroleum refining, logistics and convenience store retailing. The refining segment comprises of refineries operated in Tyler, Texas and El Dorado, Arkansas with a combined nameplate production capacity of 140,000 barrels per day.
