On Thursday, Following Stocks were among the “Top 100 Losers” of U.S. Stock Market: Potash Corp. of Saskatchewan, Inc. (NYSE:POT), Miller Energy Resources, Inc. (NYSE:MILL), Vaalco Energy Inc. (NYSE:EGY), Concert Pharmaceuticals, Inc. (NASDAQ:CNCE)
Potash Corp. of Saskatchewan, Inc. (NYSE:POT), with shares declined -4.93 %, closed at $32.04.
Miller Energy Resources, Inc. (NYSE:MILL), with shares dropped -11.89 %, settled at $0.881.
Vaalco Energy Inc. (NYSE:EGY), with shares dipped -11.40%, and closed at $3.03, hitting new 52-week low of $3.00.
Concert Pharmaceuticals, Inc. (NASDAQ:CNCE), plummeted -10.82%, and closed at $14.76.
Latest NEWS regarding these Stocks are depicted underneath:
Potash Corp. of Saskatchewan, Inc. (NYSE:POT)
On Wednesday, Potash Corp. of Saskatchewan, Inc. (POT), declared that changes to potash taxation in conjunction with the Government of Saskatchewan’s 2015-16 provincial budget are predictable to decrease the corporation’s 2015 pre-tax earnings by CDN $75 to $100 million. The influence reflects a noteworthy change in the timing of the annual allowable deduction for expansion and maintenance capital expenditures and is most pronounced in 2015 – and to a lesser extent 2016 – as we wind down our capital expansion projects and incur higher maintenance capital spending as a result of these expansions. A potash taxation review was also declared as part of the budget release.
Potash Corporation of Saskatchewan Inc., together with its auxiliaries, produces and sells fertilizers and related industrial and feed products worldwide.
Miller Energy Resources, Inc. (NYSE:MILL)
Formerly on March 3, Miller Energy Resources, Inc. (MILL), declared that it has successfully drilled and accomplished the Corporation’s first two new gas wells at its North Fork Unit and brought both onto production.
Both new wells are online and in the clean-up process and are ongoing to raise in measured daily production volumes, presently at over 2,000 Mcfd combined. The first productive zone flowed in the first well, NF 24-26, is presently producing at rate of about 1,650 Mcfd. Once the production rate from that first zone stabilizes, the Corporation plans to open and sequentially flow-test two additional zones in that well. The second well, NF 42-35, is presently producing at a current rate of about 350 Mcfd and also continues to raise as drilling fluids diminish.
On the same day, The Corporation also declared receipt in early February of about $21.2 million in cash tax credit payments from the State of Alaska. Miller Energy anticipates an additional cash tax credit payment of $20.6 million later this month. Both payments relate to the Corporation’s operational activities performed in calendar 2014.
Miller Energy Resources, Inc., an independent exploration and production corporation, explores for, develops, and operates oil and gas wells in south-central Alaska. As of April 30, 2014, the corporation owned about 315,913 net acres of leasehold interests, exploration license rights to an additional 108,673 net acres, and interests in 12 crude oil and 11 natural gas wells in Alaska.
Vaalco Energy Inc. (NYSE:EGY)
In the start of this week, Vaalco Energy Inc. (EGY), stated results for the fourth quarter and full-year 2014.
Full year 2014 highlights:
Accomplished on-plan the fabrication and installation of the two new production platforms at the Etame and Southeast Etame/North Tchibala fields offshore Gabon;
Successfully drilled and brought to production a development well in the South Tchibala field from the Avouma platform offshore Gabon;
Ended the year with about $102.0 million of accessible liquidity and only $15.0 million of funded debt
Mobilized the Transocean “Constellation II” jack up rig to start the development drilling campaign offshore Gabon;
Accomplished the drilling of the first development well (Etame 8-H) of the current drilling campaign and began the drilling of a second development well (Etame 10-H) which began producing oil in the first quarter of 2015;
2014 reserve replacement of about 2.4 million barrels of oil equivalent (“BOE”) equates to a reserve replacement ratio of 175%; and
Entered the Subsequent Exploration Phase at Angola Block 5 extending the exploration license until November 2017. In March 2015, VAALCO declared commencement of drilling its first well offshore Angola.
Capital Investments/Balance Sheet:
In 2014, the Corporation invested $92.2 million in property and equipment additions (counting amounts carried in accounts payable and not including exploration dry hole costs), primarily associated with the construction and installation of two new platforms, associated production facilities, and development wells offshore Gabon.
The Corporation’s 2015 capital expenditures are predictable to be in the range of $65.0 million to $75.0 million to further develop the Etame Marin block offshore Gabon and to drill an exploration well on Block 5 in Angola.
On December 31, 2014, VAALCO had total liquidity of $101.5 million, comprised of a cash balance of $91.5 million (counting cash held as restricted primarily for future drilling commitments offshore Angola) plus an estimated $10 million of accessible undrawn borrowing capacity on its credit facility. The Corporation believes that this cash balance, combined with cash flow from operations and the remaining undrawn portion of the credit facility, will be sufficient to fund the Corporation’s 2015 operations.
VAALCO Energy, Inc., an independent energy corporation, attains, explores for, develops, and produces crude oil and natural gas. The corporation owns producing properties and conducts exploration activities as an operator of consortiums internationally in Gabon and Angola, in addition to conducts exploration activities as a non-operator in Equatorial Guinea, West Africa.
Concert Pharmaceuticals, Inc. (NASDAQ:CNCE)
On Thursday, Concert Pharmaceuticals, Inc. (CNCE), declared the pricing of an underwritten public offering of 3,300,000 shares of its ordinary stock at a public offering price of $15.15 per share. In addition, Concert has granted the underwriters a 30-day option to purchase up to an additional 495,000 shares of ordinary stock.
All shares in the offering are being sold by Concert, with predictable net proceeds to Concert of about $46.7 million, after deducting underwriting discounts and commissions and estimated offering expenses and not counting any proceeds to be received by Concert if the underwriters were to exercise the 30-day option. The offering is predictable to close on or about March 24, 2015, subject to customary closing conditions.
Wells Fargo Securities and JMP Securities are acting as joint book-running managers for the offering. Baird and Roth Capital Partners are acting as co-managers.
Concert Pharmaceuticals, Inc., a clinical stage biopharmaceutical corporation, discovers and develops small molecule drugs for central nervous system disorders, renal disease, inflammation, and cancer.
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