On Friday, Shares of Atwood Oceanics, Inc. (NYSE:ATW), dropped -0.36% to $33.26.
Atwood Oceanics, declared that it had earned net income of $122.7 million or $1.89 per diluted share, on revenues of $350.4 million for the quarter ended March 31, 2015 contrast to net income of $46.2 million or $0.71 per diluted share on revenues of $351.7 million for the quarter ended December 31, 2014 and contrast to net income of $73.3 million or $1.13 per diluted share, on revenues of $273.1 million for the quarter ended March 31, 2014. For the six months ended March 31, 2015, the Company earned net income of $168.9 million or $2.60 per diluted share, on revenues of $702.1 million contrast to net income of $156.7 million or $2.41 per diluted share, on revenues of $557.8 million for the six months ended March 31, 2014.
During the quarter ended March 31, 2015, the Company recorded a loss of about $5.5 million ($5.5 million, net of tax, or $0.08 per diluted share) for the pending sale of the Atwood Hunter for recycling. During the quarter ended December 31, 2014, the Company recorded a non-cash impairment charge of about $60.8 million ($56.1 million, net of tax, or $0.86 per diluted share) related to the Atwood Hunter. In addition, during the quarter ended December 31, 2014, the Company recorded a loss of about $8.0 million ($7.1 million, net of tax, or $0.11 per diluted share) for the sale of the Atwood Southern Cross and a loss of $1.8 million on the sale of other equipment.
Atwood Oceanics, Inc., an offshore drilling contractor, engages in the drilling and completion of exploratory and developmental oil and gas wells worldwide. As of November 10, 2014, it owned a fleet of 13 mobile offshore drilling units, in addition to 3 ultra-deepwater drill ships under construction. The company was founded in 1968 and is headquartered in Houston, Texas.
Shares of Westlake Chemical Corp. (NYSE:WLK), declined -0.35% to $77.71, during its last trading session.
Westlake Chemical Corporation, declared that it has attained about 2.7% of additional limited partner interest in Westlake Chemical OpCo LP for about $135 million. The transaction, which closed recently, is predictable to be right away accretive to Westlake Partners’ distributable cash flow. Additionally, Westlake Partners has established a $300 million revolving credit facility with a wholly owned partner of Westlake Chemical Corporation (NYSE: WLK) to fund acquisitions and for general corporate purposes.
Consideration for the acquisition was funded by a draw on the MLP Revolver. This transaction enhances Westlake Partners’ limited partner interest in OpCo from about 10.6% to about 13.3% and represents the first purchase of additional interests in OpCo by Westlake Partners following its initial public offering in August 2014. OpCo’s assets are comprised of three ethylene production facilities, which primarily convert ethane into ethylene and have an aggregate annual capacity of about 3.4 billion pounds and a 200-mile ethylene pipeline. OpCo sells about 95% of its ethylene production to Westlake under a long-term supply agreement, which provides for a stable $0.10 margin per pound. The MLP Revolver reached recently will support Westlake Partners’ ability to pursue additional acquisitions. The MLP Revolver is a three-year, $300 million revolving credit facility with LIBOR-based interest rates.
Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and fabricated building products. It operates through two segments, Olefins and Vinyls. The Olefins segment offers ethylene, polyethylene, styrene monomer, and various ethylene co-products, such as chemical grade propylene, crude butadiene, pyrolysis gasoline, and hydrogen.
Finally, Angie’s List, Inc. (NASDAQ:ANGI), ended its last trade with -0.34% loss, and closed at $5.85.
Angie’s List, declared it will sponsor a car as well as serve as title sponsor for the Angie’s List Grand Prix next weekend.
The #98 car driven by the 2014 champion of the Indy Lights series, Gabby Chaves, and owned by Bryan Herta Autosport will carry the Angie’s List colors and logo.
Chaves is one of the youngest successful competitors in auto racing, holding titles in Karting and Formula racing.
The #98 car will be hard to miss in its Angie’s List trademark green paint and white trim.
Angie’s List, Inc. operates a local services marketplace and consumer review site in the United States. The company provides marketplace to research, shop for, and purchase local services for home, health, and automotive service needs.
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.
