During Monday’s Current trade, Shares of California Resources Corp (NYSE:CRC), lost -0.75% to $3.96.
California Resources Corporation (CRC) declared an adjusted net loss1 of $51 million or ($0.13) per diluted share for the second quarter of 2015, contrast with adjusted net income of $246 million or $0.63 per diluted share for the second quarter of 2014. The adjusted net loss for the first six months of 2015 was $148 million or ($0.39) per diluted share, contrast with an adjusted net income of $469 million or $1.21 per diluted share for the same period in 2014. Adjusted EBITDAX2 for the second quarter of 2015 was $270 million, contrast with $727 million for the second quarter of 2014. Adjusted EBITDAX for the first six months of 2015 was $468 million, contrast with $1.4 billion for the first six months of 2014.
Highlights Comprise:
- Quarterly total production of 161,000 BOE per day and crude oil production of 104,000 barrels per day
- Second quarter 2015 Adjusted EBITDAX of $270 million
- Capital investment of $95 million in the second quarter of 2015
- Operating cash flow of $117 million in the second quarter of 2015
Todd Stevens, President and Chief Executive Officer, said, “CRC is committed to living within our means and we have demonstrated this tenet again this quarter. We believe that the capital efficiency gains on our investments will allow for our debt levels to moderate slightly down through the remainder of the year. Even at the current reduced investment level, we have been able to enhance our average crude oil production over last year, putting CRC on track for raised oil production for 2015.
California Resources Corporation operates as an oil and natural gas exploration and production company in the State of California. It produces oil, natural gas, and natural gas liquids. The company holds interests in about 2.4 million net acres. It also gathers, processes, and markets oil and gas products, in addition to produces and sells power. The company is headquartered in Los Angeles, California.
Shares of Linn Energy LLC (NASDAQ:LINE), declined -3.82% to $3.01, during its current trading session.
LINN Energy, LLC (LINE) and LinnCo, LLC (LNCO) declared recently monthly distributions and dividends, respectively.
LINN Energy, LLC declared a monthly cash distribution of $0.1042 per unit, or $1.25 per unit on an annualized basis, for all of its outstanding units. The distribution will be payable August 18, 015, to unitholders of record as of the close of business on August 13, 2015.
LinnCo, LLC declared a monthly cash dividend of $0.1042 per common share, or $1.25 per share on an annualized basis, for all of its outstanding common shares. The dividend will be payable August 19, 2015, to shareholders of record as of the close of business on August 13, 2015.
Linn Energy, LLC, an independent oil and natural gas company, acquires and develops oil and natural gas properties in the Unites States. Its properties are located in the Rockies, the Hugoton Basin, California, east Texas and north Louisiana, the Mid-Continent, the Permian Basin, Michigan/Illinois, and south Texas. As of December 31, 2014, the company had proved reserves of 7,304 billion cubic feet equivalent; and operated 19,591 gross productive wells. Linn Energy, LLC was founded in 2003 and is headquartered in Houston, Texas.
BioScrip Inc (NASDAQ:BIOS), during its Monday’s current trading session gained 1.41% to $1.37.
BioScrip, Inc. (BIOS) declared a multi-step plan to enhance shareholder value, improve financial flexibility and position BioScrip as a pure play infusion services company focused on high-growth services. The BioScrip Board of Directors has formed a committee that will be chaired by R. Carter Pate that is tasked with overseeing the implementation and execution of this plan.
BioScrip also declared that, while the Company implements its financial improvement plan, the Board of Directors has authorized a process to conpresently explore a range of planned alternatives and has retained Jefferies LLC as its financial advisor to assist in the process.
BioScrip, Inc. provides home infusion and other home care services, and pharmacy benefit administration (PBM) services in the United States. It operates in two segments, Infusion Services and PBM Services. The Infusion Services segment offers home infusion therapy and respiratory therapy services; and durable medical equipment, products, and services.
Finally, Rex Energy Corporation (NASDAQ:REXX), decreased -1.49%, to $3.30.
Rex Energy Corporation (REXX) declared its second quarter 2015 operational and financial results.
Second Quarter Financial Results
Operating revenue from ongoing operations for the three and six months ended June 30, 2015 was $45.8 million and $99.9 million, respectively, which represents a decrease of 37% and 35% over the same periods in 2014, respectively. Commodity revenues, counting settlements from derivatives, were $59.3 million and $124.0 million for the three and six months ended June 30, 2015, respectively, a decrease of 16% for each of the comparable periods of 2014. Commodity revenues from oil and natural gas liquids (NGLs), counting settlements from derivatives, represented 49% of total commodity revenues for the three months ended June 30, 2015.
Counting the effects of cash settled basis differential derivatives, the company’s basis differential for its Appalachian Basin assets averaged about ($0.77) off the Henry Hub price of $2.64 for the three months ended June 30, 2015.
Rex Energy Corporation operates as independent oil, natural gas liquid, and natural gas company in the Appalachian and Illinois basins in the United States. The company focuses on the Marcellus Shale, Utica Shale, and Burkett Shale drilling and exploration activities in the Appalachian Basin, in addition to on developmental oil drilling and the implementation of improved oil recovery on its properties in the Illinois Basins.
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