On Monday, Apache Corp. (NYSE:APA)’s shares gained 5.53%, and closed at $64.84, as on last Thursday, Apache, declared that it has accomplished the formerly revealed sale of the Wheatstone LNG project and accompanying upstream oil and gas reserves to Woodside Petroleum Limited (WPL.AX) for total proceeds of $2.817 billion. Proceeds comprise adjustments of $567 million for reimbursement of Apache’s net expenditures in the Wheatstone LNG project, changes in working capital and net receipts from the Balnaves oil project between the effective date, July 1, 2014, and closing. Under the terms of the contract, Apache has sold equity ownership in its Australian partner, Apache Julimar Pty Ltd, which owns a 13-percent interest in the Wheatstone LNG project and a 65-percent interest in the WA-49-L block and comprises the Julimar/Brunello offshore gas fields and the Balnaves oil development.
The corporation anticipates the formerly declared sale of Apache’s 50-percent interest in the Kitimat LNG project and related upstream acreage in the Horn River and Liard natural gas basins in British Columbia, Canada, to Woodside Petroleum Limited will close later this month. Final customary approvals by the project’s downstream operator, Chevron Corporation, were received on March 31, 2015. Proceeds are predictable to be about $854 million, which would comprise $354 million in adjustments for reimbursement of net expenditures on the project, changes in working capital and other contractual adjustments for the period between the effective date, July 1, 2014, and closing.
Apache Corporation, an independent energy corporation, explores, develops, and produces natural gas, crude oil, and natural gas liquids. It operates onshore and offshore assets primarily in the Permian Basin, the Anadarko basin in western Oklahoma, and the Texas Panhandle, Gulf Coast areas of the United States, in addition to in Western Canada.
Kinross Gold Corporation (NYSE:KGC)’s shares jumped 5.17%, and settled at $2.44, during the last trading session on Monday, as on April 1, on March 24, Chile’s Northern Atacama region practiced an extreme weather event, with heavy rains causing flooding and damaging infrastructure. Mining operations throughout the region were affected, counting Kinross Gold’s (KGC) Maricunga mine, where mining and crushing operations, and the SART plant, remain temporarily suspended. The ADR plant continues to operate, producing gold from existing material in the heap leach.
The Corporation is assessing the extent of the damage to roads and power lines to Maricunga, which is located 120 km east of the city of Copiapó, at about 4,500 metres above sea level. The main road to Maricunga from Copiapó is presently impassable and power lines are down. The site is relying on generators to supply electricity to the camps and operate the ADR plant. Facilities at site have not sustained any damage.
At this time, Kinross does not anticipate that the temporary suspension of operations will influence the Corporation’s regional production guidance for the year. The Corporation will provide an update on Maricunga’s status once more information is accessible.
Kinross Gold Corporation, together with its auxiliaries, engages in the attainment, exploration, and development of gold bearing properties. It is involved in mining and processing gold and silver ores.
At the end of Monday’s trade, Ventas, Inc. (NYSE:VTR)’s shares climbed 5.01%, and closed at $76.90, after Ardent Health Services has recapitalized the corporation through a sale valued at $1.825 billion to Ventas, Inc. (VTR), a leading real estate investment trust (REIT).
Ventas has signed a definitive contract to attain all shares of Ardent Medical Services, Inc. from Welsh, Carson, Anderson & Stowe and other current shareholders. The purchase price is $1.75 billion and Ardent will be entitled to distribute up to $75 million in excess cash to its existing shareholders.
The transaction will position Ardent for growth in a dynamically changing health care environment, counting the attainment of new health care facilities, entry into new markets and expansion of the corporation’s existing portfolio.
Ventas, Inc. is a publicly owned real estate investment trust. The firm engages in investment, administration, financing, and leasing of properties in the healthcare industry. It invests in the real estate markets of the United States and Canada.
Patterson-UTI Energy Inc. (NASDAQ:PTEN), ended its Monday’s trading session with 4.96% gain, and closed at $20.33, as on last Thursday, Patterson-UTI Energy, stated that for the month of March 2015, the Corporation had an average of 142 drilling rigs operating in the United States and four rigs in Canada. For the three months ended March 31, 2015, the Corporation had an average of 165 drilling rigs operating in the United States and eight rigs in Canada.
Average drilling rigs operating stated in the Corporation’s monthly declaration represent the average number of the Corporation’s drilling rigs that were operating under a drilling contract. The Corporation cautioned that numerous factors in addition to average drilling rigs operating can influence the Corporation’s operating results and that a particular trend in the number of drilling rigs operating may or may not indicate a trend in or be indicative of the Corporation’s financial performance. The Corporation intends to continue providing monthly updates on drilling rigs operating shortly after the end of each month.
Patterson-UTI Energy, Inc., through its auxiliaries, provides onshore contract drilling services to major and independent oil and natural gas operators in the United States and Canada. The corporation operates through three segments: Contract Drilling, Pressure Pumping, and Oil and Natural Gas.
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