During Wednesday’s Current trade, Shares of EXCO Resources Inc (NYSE:XCO), gain 4.47% to $0.616.
EXCO Resources, Inc. ( XCO ) declared operating and financial results for the second quarter 2015.
2015 Second Quarter Highlights
- Drilled 9 gross (4.4 net) and turned-to-sales 22 gross (5.7 net) operated horizontal wells in the second quarter 2015, comprising with the capital budget.
- Produced 361 Mmcfe per day, or 33 Bcfe, for the second quarter 2015, which exceeded the midpoint of guidance. Production raised 22 Mmcfe per day from the first quarter 2015.
- Adjusted EBITDA, a non-GAAP measure, was $69 million for the second quarter 2015, 19% above adjusted EBITDA for the first quarter 2015, primarily due to higher production as well as lower operating and general and administrative costs.
- Cost saving initiatives resulted in general and administrative costs and gathering and transportation costs that were 7% and 6%, respectively, below the low-end of guidance, in addition to operating costs within guidance. Reduced drilling and completion costs through negotiations with key vendors.
- Improved completion design in East Texas Shelby area yielded strong results as evidenced by a 15% enhance in estimated ultimate recoveries (“EUR”) for undeveloped Haynesville shale locations to 1.5 Bcf per 1,000 lateral feet. The Company believes further upside is achievable based on certain of its proved developed producing wells in this area with EURs of 1.75 Bcf per 1,000 lateral feet.
EXCO Resources, Inc., an independent oil and natural gas company, engages in the acquisition, exploration, exploitation, development, and production of onshore oil and natural gas properties with a focus on shale resource plays in the United States. The company holds interests in about 85,300 net acres located in the Haynesville and Bossier shales of East Texas and North Louisiana; about 52,900 net acres located in the Eagle Ford shale of South Texas; and about 157,000 net acres of prospective area located in the Marcellus shale of the Appalachian basin.
Shares of American Homes 4 Rent (NYSE:AMH), declined -0.51% to $15.63, during its current trading session.
American Homes 4 Rent (AMH) a leading provider of high quality single-family homes for rent, recently declared that, on August 6, 2015, the Board of Trustees declared a dividend of $0.05 per share on the Company’s common shares for the third quarter of 2015. The distribution will be payable in cash on September 30, 2015 to shareholders of record on September 15, 2015.
The Board of Trustees also declared a per share quarterly distribution on the Company’s participating preferred shares of $0.3125 on the 5.000% Series A shares, $0.3125 on the 5.000% Series B shares and $0.34375 on the 5.5000% Series C shares, payable on September 30, 2015 to shareholders of record on September 15, 2015.
American Homes 4 Rent is a real estate investment trust. The firm engages in the acquisition, renovation, leasing, and operating single-family home rental properties in the United States. American Homes 4 Rent was founded in 2012 and is based in Malibu, California.
Impax Laboratories Inc (NASDAQ:IPXL), during its Wednesday’s current trading session decreased -2.10% to $43.67.
Impax Laboratories, Inc. (IPXL) priced $500,000,000 aggregate principal amount of 2.00% convertible senior notes due 2022 (the “notes”) in a private offering to qualified institutional buyers following Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The notes will be the Company’s senior unsecured obligations. In connection with the offering, the Company has granted the initial purchasers an option to purchase up to an additional $100,000,000 aggregate principal amount of such notes.
The notes will bear interest at a rate of 2.00% per year payable semiannually in arrears on June 15 and December 15 of each year, starting December 15, 2015. The notes will mature on June 15, 2022, unless repurchased or converted in accordance with their terms prior to such date. The notes will be convertible at the option of the holder any time prior to the close of business on the business day right away preceding December 15, 2021 only upon satisfaction of certain conditions and during certain periods, into cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election in the manner and subject to the terms and conditions offered in the indenture governing the notes. On or after December 15, 2021 until the close of business on the second planned trading day right away preceding the maturity date, holders may convert their notes at any time. The Company’s ability to elect to deliver shares of the Company’s common stock upon conversion is subject to the Company obtaining stockholder approval to enhance the number of shares of the Company’s common stock authorized for issuance. Holders of the notes will have the right to require the Company to repurchase all or some of their notes at 100% of their principal amount, plus any accrued and unpaid interest, upon the occurrence of certain “fundamental change” events. The conversion rate will initially be 15.7858 shares of common stock per $1,000 principal amount of notes (equivalent to an initial conversion price of about $63.35 per share of common stock). The initial conversion price of the notes represents a premium of about 32.5% to the $47.81 per share closing price of the Company’s common stock on June 24, 2015. The sale of the notes is predictable to close June 30, 2015, subject to customary closing conditions.
Impax Laboratories, Inc., a specialty pharmaceutical company, develops, manufactures, and markets bioequivalent pharmaceutical products. It operates in two segments, Global Pharmaceuticals Division and Impax Pharmaceuticals Division.
Finally, Generac Holdings Inc. (NYSE:GNRC), decreased -1.35%, to $27.84.
Generac Holdings Inc. (GNRC) a leading designer and manufacturer of power generation equipment and other engine powered products, recently stated financial results for its second quarter ended June 30, 2015.
Second Quarter 2015 Highlights
- Net sales were $288.4 million during the second quarter of 2015 as contrast to $362.6 million in the preceding-year second quarter.
- Residential product sales were $133.5 million during the second quarter as contrast to $179.6 million in the preceding-year quarter, primarily due to lower demand of home standby generators as a result of a power outage severity environment that continues to remain challenging.
- Commercial & Industrial (C&I) product sales were $134.6 million during the second quarter as contrast to $163.5 million in the preceding-year quarter, primarily due to a decline in shipments to oil & gas markets and, to a lesser extent, reduced shipments to telecom national account customers.
Generac Holdings Inc. designs, manufactures, and markets power generation equipment and other engine powered products for the residential, light commercial, industrial, oil and gas, and construction markets in the United States, Canada, and internationally.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
