On Tuesday, Synergy Resources Corporation (NYSEMKT:SYRG)’s shares surged 5.86% to $12.47, after Synergy Resources stated its fiscal second quarter results for the period ended February 28, 2015.
Second Quarter 2015 Financial Results:
- Proceeds raised 3% to $23.7 million up from $23.0 million in the same quarter a year ago. The year-over-year improvement was attributed to a 98% raise in production, primarily from the new horizontal wells brought on line and production from the Bayswater attainment that closed in December 2014. Proceed growth was offset by a 48% decrease in the realized average selling price per BOE. During fiscal Q2 2015, average selling prices were $43.51 per barrel of oil and $3.38 per mcf of gas, as contrast to $86.82 and $5.93, respectively, a year ago.
- Net revenue was $4.7 million or $0.05 per basic and diluted share, down from $5.2 million or $0.07 per basic and diluted share in the same year-ago period.
- Adjusted EBITDA (a non-GAAP metric) raised 56% to $27.3 million up from $17.5 million a year ago.
- At February 28, 2015, cash and cash equivalents totaled $218.5 million. Borrowings under the credit facility were $146.0 million with remaining liquidity of $46.0 million on a borrowing base of $192.0 million.
Second Quarter 2015 Highlights:
- Net oil and natural gas production raised to 697,069 barrels of oil equivalent (BOE), averaging 7,745 BOE per day as compared to 3,917, as contrast to the same year-ago quarter, an average daily raise of 98%.
- Closed on the attainment of the Bayswater assets located in the Wattenberg Field on December 15, 2014.
- Raised about $191 million in net proceeds in an equity offering at $10.75 per share that closed on February 2, 2015.
- As of February 28, 2015, we were the operator of 39 gross producing horizontal wells in the Wattenberg Field.
- 29 additional operated horizontal wells were awaiting completion and 11 more horizontal operated wells were in the drilling process as of February 28, 2015.
Synergy Resources Corporation engages in the attainment, development, exploitation, exploration, and production of oil and natural gas properties primarily located in the Denver-Julesburg Basin in northeast Colorado.
Advaxis, Inc. (NASDAQ:ADXS)’s shares gained 5.78% to $21.78, during the last trading session on Tuesday, hitting its highest level, after an initial public offering that will value the cancer immunotherapy developer at more than $1 billion. Advaxis (ADXS), a competitor working on similar cancer drugs, sports a valuation roughly half as large, but its stock has moved higher in the past month to close the gap.
Aduro is set to raise $119 million through the sale of 7 million shares at $17 per share. Investor demand for the Aduro IPO is said to be heavy. (The offering size was raised Tuesday from 5 million shares at a price range of $14 to $16 per share.) The stock will trade under the ticker ADRO.
Advaxis, Inc., a clinical stage biotechnology company, focuses on the discovery, development, and commercialization of Lm-LLO cancer immunotherapies in the United States.
At the end of Tuesday’s trade, ArcelorMittal (NYSE:MT)’s shares gained 5.75% to $9.93, after the company declared that Singapore’s Changi airport will contain a landmark retail and leisure complex using ArcelorMittal steel beams.
The foundation of the complex will be built on ArcelorMittal steel beams that weigh 7,000 tons and range from 12 to 30.7 meters. The beams will be the longest ever delivered by the company to Singapore.
ArcelorMittal started delivery of steel to the complex in February and will extend deliveries until April or May. The airport’s “Jewel” complex is planned for completion in late 2018.
ArcelorMittal, together with its auxiliaries, operates as an integrated steel and mining company worldwide. The company operates through five segments: NAFTA; Europe; Brazil and Neighboring Countries (Brazil); Africa & Commonwealth of Independent States (ACIS); and Mining. It produces finished and semi-finished steel products.
Finally, Diamond Offshore Drilling, Inc. (NYSE:DO), ended its Tuesday’s trading session with 5.58% gain, and closed at $30.83, as Diamond Offshore will issue a press release and host a conference call and webcast related to its first quarter 2015 operating results on Monday, May 4, 2015. The conference call and webcast will start at 7:30 a.m. CDT and will comprise a discussion by administration regarding the Company’s results of operation.
Diamond Offshore Drilling, Inc. provides contract drilling services to the energy industry worldwide. The company provides services in floater market, such as ultra-deepwater, deepwater, and mid-water; and non-floater or jack-up market.
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