U.S. stocks inclined sharply during midday trading, following the news that the price of oil rebound and after the drugmaker agreed to be attained by Pfizer’s for $16 billion.
The Dow Jones industrial average jumped more than 200 points, its third big gain this week. The Dow is now up about 700 points, or 4 percent, so far this week.
Health care stocks and energy companies had some of the biggest gains.
Major News: Statoil, which expanded from a North Sea producer to a global explorer at some stage in the past decade, will cut capital expenditure by a tenth this year, plummeting exploration, spending on its U.S. shale prospects, and modification of mature fields. Statoil has taken a bigger hit from low oil prices than many other majors as it operates with some of the highest costs in the world, due to factors counting pay rates for Norwegian workers and high safety standards. It also pays among the highest resource taxes in the world, last year put at over 71 percent.
Chasing the energy stock’s trend, following stocks inclined to a great extent, during Thursday’s trend. Details are described underneath:
Resolute Energy Corporation (NYSE:REN), boosted 26.83% to close at $1.09, holding market capitalization of $81.39M, in its last trade. Its Intraday range is $0.89 - $1.10., while 52-week range is $0.68 - $9.65. The company holds the volume of $1,641,940, as compared to its average volume of $2,948,407.
Resolute Energy Corporation (NYSE:REN), an independent oil and gas company, attains, explores for, develops, and produces oil, gas, and hydrocarbon liquids. The company holds interests in the Aneth Field that cover an area of about 43,000 gross acres, located in the Paradox Basin in southeast Utah; in about 24,667 net acres in the Permian Basin in Texas and southeast New Mexico; in about 47,400 net acres in the Powder River basin, Wyoming.
Shares of Emerald Oil, Inc. (NYSEMKT:EOX), jumped nearly 19.23% and closed at $1.24, soon after an independent exploration and production operator, declared recently the launch of an underwritten public offering of $25,000,000 of the Company’s ordinary stock, subject to market conditions. The Company has granted the underwriters a 30-day option to purchase up to an additional $3,750,000 of ordinary stock. The Company intends to use the net proceeds from this offering for working capital and for general corporate purposes. White Deer Energy L.P. has indicated an interest in purchasing, through certain of its associates, up to $15,000,000 of our ordinary stock in this offering at the public offering price.
Emerald Oil, Inc. (NYSEMKT:EOX), is an independent exploration and production operator that is focused on acquiring acreage and developing wells in the Williston Basin of North Dakota and Montana, targeting the Bakken and Three Forks shale oil formations and Pronghorn sand oil formation. Emerald is based in Denver, Colorado.
Escalera Resources Co. (NASDAQ:ESCR), surged 16.97% to close at $0.68, holding market capitalization of $9.69M, in its last trade. Its Intraday range is $0.54 - $0.69, while 52-week range is $0.35 - $3.42. The company holds the volume of $173,920, as compared to its average volume of $81,663.
Escalera Resources Co. (NASDAQ:ESCR), an independent energy company, explores, develops, produces, and sells natural gas and crude oil primarily in the Rocky Mountain Basins of the western United States.
Shares of the Callon Petroleum Company, (NYSE:CPE), enhanced 15.38% & closed at $7.20, as an independent energy company, declared its operational and financial guidance for 2015 and an operational update, counting updated fourth quarter 2014 production guidance and proved reserve estimates for the year ended December 31, 2014. Establishes a 2015 operational capital budget range of $150 - $165 million, a reduction of about 25% - 30% relative to the comparable 2014 budgeted amount of $215 million.
Callon Petroleum Company, (NYSE:CPE), is an independent energy company focused on the attainment, development, exploration, and operation of oil and gas properties in the Permian Basin in West Texas.
Vantage Drilling Company, (NYSEMKT:VTG), mounted 14.52% to close at $0.50, holding market capitalization of $153.71M, in its last trade. Its Intraday range is $0.44 - $0.51, while 52-week range is $0.30 - $2.02. The company holds the volume of $1,252,292, as compared to its average volume of $1,512,130.
Vantage Drilling Company, (NYSEMKT:VTG), through its auxiliaries, offers offshore contract drilling services to the oil and natural gas companies in the United States and internationally. It offers drilling units, related equipment, and work crews under contract to drill oil and natural gas wells.
