On Thursday, Shares of Abraxas Petroleum Corp. (NASDAQ:AXAS), lost -4.69% to $1.83.
Abraxas Petroleum Corporation offered the following operations update.
Williston Basin
At Abraxas’ North Fork prospect, in McKenzie County, North Dakota, the Jore 5H, Jore 6H, Jore 7H and Jore 8H, producing from the Middle Bakken, averaged 819 boepd (653 barrels of oil per day, 994 mcf of natural gas per day) over the wells’ peak 30 days of production. Each well was constrained on a smaller than normal choke to minimize flaring. To date, total drill and complete costs (before any needed expenditures for pump) averaged $6.3 million. On the Ravin Northwest pad, the Ravin 8H, Sten–Rav 1H and Stenehjem 5H are planned to be accomplished in August. Recently, Abraxas successfully mobilized to the Stenehjem 10H-15H pad where it is presently drilling the intermediate section on the first well of a six well pad. Abraxas owns a working interest of about 76%, 74% and 78% in the Jore 5H-8H, Ravin Northwest wells and Stenehjem 10H-15H, respectively.
Abraxas took part in its first Second Bench Three Forks test, drilled by a third party operator, on a unit directly offsetting the Company’s North Fork acreage. Early results from the well are very encouraging with a 24 hour IP of 1,169 boepd (917 barrels of oil per day, 1,510 mcf of natural gas per day). If the well continues to perform in-line with expectations, Abraxas has about 20 gross incremental Second Bench Three Forks wells across the Company’s 5 operated units at North Fork and Lillibridge.
Abraxas Petroleum Corporation, an independent energy company, engages in the acquisition, exploitation, development, and production of oil and gas properties in the United States.
Shares of Liberty Interactive Group (NASDAQ:QVCA), declined -0.23% to $30.32, during its last trading session.
Liberty Interactive Corporation, stated second quarter 2015 results. Highlights comprise:
Attributed to QVC Group
- Grew QVC US revenue by 4% and adjusted OIBDA (2) by 7% in the second quarter
- QVC US operating income raised by 11%
- com revenue as a percent of total US revenue raised to 47%, a 309 basis point enhance
- QVC US mobile penetration was 48% of QVC.com orders, a 1,013 basis point enhance
- QVC merged mobile penetration was 49% of QVC.com orders, a 951 basis point enhance
- QVC generated local currency revenue growth and adjusted OIBDA improvement in all merged markets
- QVC France launched with multi-platform capabilities; TV programming began airing August 1
- From May 1, 2015 through July 31, 2015, repurchased 12.2 million QVCA shares at an average price per share of $28.39 and a total cost of $348 million
Attributed to Liberty Ventures Group
- Agreed to invest up to $2.4 billion in Liberty Broadband as part of Charters transaction with Time Warner Cable
- Accomplished sale of Backcountry.com on June 30 for aggregate consideration of about $350 million
QVC generated strong results across the board with local currency growth in all merged markets. The expansion in mobile orders continues at a rapid pace, comprising 49% of total eCommerce orders worldwide. From May 1 through July 31, we repurchased $348 million of QVCA shares, fully utilizing the funds distributed in conjunction with the Liberty TripAdvisor Holdings spin-off, stated Greg Maffei, Liberty Interactive President and CEO. Attributed to Liberty Ventures, we agreed to invest up to $2.4 billion in Liberty Broadband as part of Charters transaction with Time Warner Cable, and the successful sale of Backcountry.com was accomplished on June 30 for total consideration of about $350 million.
Liberty Interactive Corporation, through its auxiliaries, engages in the video and on-line commerce industries in North America, Europe, and Asia. It markets and sells various consumer products primarily through live televised shopping programs, Websites, and mobile applications.
At the end of Thursday’s trade, Shares of Stanley Black & Decker, Inc. (NYSE:SWK), lost -0.18% to $104.50.
Stanley Black & Decker declared second quarter 2015 financial results.
- 2Q’15 Revenues Totaled $2.9 Billion, Flat To Preceding Year, As Robust Organic Growth Of 8% Was Offset By An 8% Currency Impact
- 2Q’15 Operating Margin Rate Expanded 70 Basis Points To A Post-Merger Record 14.4% Despite $50 Million Of Currency Headwinds
- 2Q’15 Diluted GAAP EPS Was $1.54 Up 11% From 2Q’14 On Strong Operational Performance
- Raising 2015 Full Year GAAP EPS Guidance Range To $5.70 To $5.90 From $5.65 To $5.85, Up 6% To 10% As compared to 2014, Despite $1.00 To $1.10 Per Share Of Foreign Currency EPS Pressure
2Q’15 Key Points:
- Net sales for the period were $2.9 billion, flat to preceding year, as positive volume (+7%) and price (+1%) were offset by currency (-8%).
- Gross margin rate for the quarter was 36.9%, up 20 basis points from the preceding year rate of 36.7% as a result of favorable volume leverage, price, productivity and cost actions which more than offset unfavorable currency.
- SG&A expenses were 22.5% of sales contrast to 22.9% in 2Q’14 reflecting volume leverage and cost control.
- Operating margin rate was 14.4% up 70 basis points from 2Q’14, reflecting actions to improve profitability and generate solid operating leverage which more than offset unfavorable currency.
- Restructuring charges for the quarter were $5.0 million contrast to a restructuring credit of $1.7 million in 2Q’14.
- Tax rate was 25.0% equal to the 2Q’14 rate.
- Average diluted shares outstanding for the quarter were 152.7 million as compared to 159.7 million a year ago, reflecting the cumulative impact of our recent share repurchase program, counting the repurchase of about $100 million of shares during the quarter.
- Working capital turns for the quarter were 7.0, up 0.2 turns from 2Q’14. Free cash flow for the quarter was $247 million as compared to $376 million for 2Q’14 reflecting an raised level of working capital to support higher organic growth.
Stanley Black & Decker, Inc. provides power and hand tools, mechanical access solutions, and electronic security and monitoring systems for various industrial applications.
Finally, Alon USA Energy, Inc. (NYSE:ALJ), ended its last trade with -2.76% loss, and closed at $22.23.
Alon USA Partners declared that its administration will be attending meetings with institutional investors to talk about both Alon Partners and Alon USA Energy, Inc. (ALJ) at the 2015 Citi One-on-One MLP / Midstream Infrastructure Conference to be held in Las Vegas, Nevada on August 19-20, 2015. All one-on-one meetings with administration will be held on August 20, 2015.
Alon Partners is a Delaware limited partnership formed in August 2012 by Alon Energy. Alon Partners owns and operates a crude oil refinery in Big Spring, Texas with a crude oil throughput capacity of 73,000 barrels per day. Alon Partners refines crude oil into finished products, which are marketed primarily in West Texas, Central Texas, Oklahoma, New Mexico and Arizona through its wholesale distribution network to both Alon Energy’s retail convenience stores and other third-party distributors.
Alon USA Energy, Inc. engages in refining and marketing petroleum products, primarily in the South Central, Southwestern, and Western regions of the United States. It operates in three segments: Refining and Marketing, Asphalt, and Retail.
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