On Wednesday, Marlin Midstream Partners LP (NASDAQ:FISH)’s shares declined -10.58% to $18.00.
Marlin Midstream Partners LP (FISH) declared financial results for first quarter 2015.
First Quarter 2015 Highlights
Adjusted EBITDA for first quarter 2015 was $4.5 million and Pro Forma Adjusted EBITDA for first quarter 2015 was $8.6 million.
Pro Forma Distributable Cash Flow for first quarter 2015 was $7.2 million, or $0.40 per limited partner unit.
Marlin declared its first quarter 2015 distribution of $0.37 per limited partner unit, or $1.48 annually per limited partner unit, an enhance of about 2%.
The Partnership will change its name to Azure Midstream Partners, LP in the near future and has applied to list its common units on the New York Stock Exchange, trading under the ticker “AZUR.”
On February 27, 2015, Marlin accomplished the transactions (the “Transactions”) that resulted in the acquisition of our general partner, Marlin Midstream GP, LLC, by Azure Midstream Energy LLC (“Azure”), and Azure contributing its Legacy gathering system assets (the “Legacy System”) to us in exchange for $162.5 million in consideration.
Marlin Midstream Partners, LP, together with its auxiliaries, acquires, owns, develops, and operates midstream energy assets in the United States. The company operates through two segments, Midstream Natural Gas and Crude Oil Logistics.
Magellan Petroleum Corporation (NASDAQ:MPET)’s shares dropped -7.00% to $0.465.
Magellan Petroleum Corporation (MPET) offered an update on the Horse Hill-1 well (“HH-1″) and PEDL 137, in which it owns a 35% direct working interest.
On May 11, 2015, UK Oil & Gas Investments PLC (“UKOG”), an interest owner in HH-1 and PEDL 137, declared that Xodus Group, an international energy consultancy, conducted an independent study of the conventional reservoir in the Upper Portland sandstone in PE0DL 137 and concluded that the “best estimate” (P50, with a 50% chance that the actual volume will be greater than the stated estimate, and a 50% chance that the actual volume will be less than the stated estimate) gross oil in place (“OIP”) amounted to 21.0 MMbbls. The declarement also clarified that the OIP should not be construed as recoverable resources and that meaningful estimates of recoverable oil from the Upper Portland can only be made following the projected HH-1 flow test, which is planned for later in 2015.
Magellan Petroleum Corporation, an independent energy company, is engaged in the exploration and production of oil and gas in the United States, Australia, and the United Kingdom.
At the end of Wednesday’s trade, Idera Pharmaceuticals Inc (NASDAQ:IDRA)‘s shares dipped -7.62% to $2.80.
Idera Pharmaceuticals Inc (IDRA) stated its financial and operational results for the first quarter ended March 31, 2015.
Vincent J. Milano, Chief Executive Officer of Idera stated that During the first quarter of this year, they continued to build momentum as they executed on their numerous clinical development programs focused on oncology and rare diseases
The focus and efforts of their team are leading to important milestones for their company over the next six to twelve months. They recently accomplished enrollment into the dose escalation portion of their ongoing clinical trial of IMO-8400 in Waldenstrom’s macroglobulinemia (WM) and we continue to anticipate releasing efficacy and safety data from this trial in the fourth quarter of this year.
Idera Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics for oncology and rare diseases in the United States. It uses two proprietary drug discovery technology platforms to design and develop drug candidates, counting toll-like receptor targeting technology and gene silencing oligonucleotide (GSO) technology.
Star Bulk Carriers Corp. (NASDAQ:SBLK), ended its Wednesday’s trading session with -9.55% loss, and closed at $3.41.
Star Bulk Carriers Corp. (SBLK) declared that it has priced its registered direct public offering of 56,250,000 of its common shares at a price of $3.20 per share. The offering is predictable to close on May 18, 2015, subject to customary conditions. Star Bulk intends to use the net proceeds from the offering for its newbuilding program and general corporate purposes counting additions to working capital, capital expenditures, repayment of debt or the financing of possible acquisitions and investments
Star Bulk Carriers Corp., a shipping company, provides seaborne transportation solutions in the dry bulk sector worldwide. Its vessels transport various bulks, which comprise iron ore, coal, and grain, in addition to bauxite, fertilizers, and steel products. As of April 21, 2015, the company owned 70 dry bulk vessels, counting 1 Newcastlemax, 19 Capesize, 4 Post-Panamax, 20 Kamsarmax, 8 Panamax, 7 Ultramax, 10 Supramax, and 1 Handymax vessel with a total carrying capacity of 7.2 million dwt.
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