On Friday, Emerald Oil Inc (NYSEMKT:EOX)’s shares declined -11.09% to $0.587.
Emerald Oil Inc (EOX) declared that it has reached a definitive agreement with unrevealed sellers to acquire core Delaware Basin acreage in Lea and Eddy Counties, New Mexico. The total purchase price for the asset package is about $75.2 million in cash, and the acquisition is predictable to close at the end of May 2015.
Acquisition of Delaware Basin Properties and Updated Guidance
- About 10,746 net acres (80% working interest; 100% operated) in Lea and Eddy Counties, New Mexico;
- Multi-stacked, oil-weighted pay zones which are prospective for the Avalon shale, Bone Spring sand and Wolfcamp shale;
- About 400 potential drilling locations in the Avalon shale, 1st, 2nd& 3rd Bone Spring sand, and Wolfcamp shale, with additional development potential through downspacing and delineating other horizontal zones;
- Delaware Basin assets can deliver returns above the cost of capital at existing commodity prices;
- Acreage has de-risked drilling inventory with attractive economics based on extensive production data from offset operators, counting EOG Resources, Inc., Cimarex Energy, Co., Concho Resources Inc., and Matador Resources Company;
- Plan to drill 5 net Delaware Basin wells for $33-$38 million in the remainder of 2015;
- Ready access to midstream and transportation infrastructure;
- Increasing Q4:2015 production guidance range from 4,000 - 4,300 Boe/d to 4,600 - 4,900 Boe/d;
- For additional details, please see our updated corporate presentation at www.emeraldoil.com.
Emerald Oil, Inc. operates as an independent oil and natural gas exploration and production company in the United States. The company designs, drills, and operates oil and natural gas wells. It primarily focuses on acquiring acreage and developing oil and natural gas wells in the Williston Basin located in North Dakota and Montana.
Paycom Software Inc (NYSE:PAYC)’s shares dropped -10.07% to $35.29.
Paycom Software Inc (PAYC) declared that the underwritten secondary offering (the “Offering”) of 8,000,000 shares of its common stock by Welsh, Carson, Anderson & Stowe X, L.P. and WCAS Capital Partners IV, L.P. (collectively, “WCAS”), each of its executive officers and certain other selling stockholders (collectively, the “Selling Stockholders”). The price to the public in the Offering is $36.25 per share. Barclays is acting as the underwriter for the Offering. The Offering is predictable to close on or about May 20, 2015, subject to customary closing conditions. Paycom will not receive any proceeds from the Offering.
Paycom Software, Inc. offers cloud-based human capital administration (HCM) software solutions delivered as Software as-a-Service in the United States. It provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement.
At the end of Friday’s trade, Arcadia Biosciences Inc (NASDAQ:RKDA)‘s shares dipped –8.75% to $7.30.
Nasdaq (NDAQ) declared that trading of Arcadia Biosciences Inc (RKDA) declared the pricing of its initial public offering of 8,200,000 shares of its common stock at a public offering price of $8.00 per share. The shares are predictable to start trading on The NASDAQ Global Market on May 15, 2015 under the symbol “RKDA.” The offering is predictable to close on May 20, 2015, subject to customary closing conditions. In addition, Arcadia Biosciences has granted the underwriters a 30-day option to purchase up to an additional 1,230,000 shares of common stock.
Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC are acting as joint lead book-running managers, and Piper Jaffray & Co. is acting as an additional book-running manager, for the offering.
Arcadia Biosciences, Inc., an agricultural biotechnology trait development company, develops and commercializes agricultural products that enhance the environment and human health. It offers crop productivity and product quality traits for various crops.
Constellium NV (NYSE:CSTM), ended its Friday’s trading session with -7.84% loss, and closed at $15.75.
Constellium NV (CSTM) stated results for the first quarter ended March 31, 2015. Highlights below are in comparison to the first quarter of 2014.
- Shipments of 381 thousand metric tons, up 41%
- Revenue of €1.4 billion, up 58%
- Adjusted EBITDA of €95 million, up 34%
- P&ARP revenue more than doubles due to the acquisition of Wise Metals
- Automotive rolled shipments up 19%; Automotive extruded shipments up 12%
- Positive foreign exchange impact on Adjusted EBITDA partially offset by negative effect of premiums
- Diluted EPS of (€0.30); EPS not taking into account unrealized losses on derivatives of (€0.02)
Constellium stated solid first quarter 2015 results, counting Wise Metals, our newly attained Muscle Shoals, Alabama packaging facility, which is stated in our P&ARP segment.
Revenues for the first quarter of 2015 were €1.4 billion, an enhance of 58% or €510 million from the first quarter 2014, of which €359 million was contributed by Muscle Shoals. Adjusted EBITDA was €95 million, which represented an enhance of 34% from the first quarter 2014 Adjusted EBITDA of €71 million.
First quarter 2015 shipments were 381k metric tons, an enhance of 41% from Q1 2014, of which 120k metric tons were contributed by Muscle Shoals. Adjusted EBITDA per metric ton for the first quarter 2015 was €250, representing a slight decrease from €263 stated in Q1 2014.
Quarter Highlights and Recent Developments
On January 5, 2015, Constellium accomplished the Wise Metals acquisition. With this acquisition, Constellium now has access to 450k metric tons of hot mill capacity from the widest strip mill in North America, a planned position from which to continue growing its North American presence.
In January 2015, Constellium declared that it is one of the largest suppliers for high-strength aluminium structural parts to Ford Motor Co. for the new Ford F-150 pickup truck, the largest automobile platform in the U.S.
In February 2015, Constellium declared that it is investing €23 million in its manufacturing site located in Decin, Czech Republic to enhance capacity in the production of hard alloy bars and profiles.
Constellium N.V. is engaged in the design, manufacture, and sale of specialty rolled and extruded aluminum products for the aerospace, packaging, and automotive end-markets. The company operates in three segments: Aerospace & Transportation, Packaging & Automotive Rolled Products, and Automotive Structures & Industry.
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