On Tuesday, MBIA Inc. (NYSE:MBI)’s shares declined -8.36% to $8.99.
MBIA Inc. (MBI) declared the sale of an aggregate of 27,250,000 shares of the Company’s common stock by investment funds associated with Warburg Pincus LLC (“Warburg Pincus”) in a registered public offering. Warburg Pincus will receive all of the net proceeds from this offering. No shares are being sold by the Company or by any members of the administration team.
BTIG, LLC is acting as sole underwriter for the offering. BTIG, LLC proposes to offer the shares of common stock from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to receipt and acceptance by it and subject to its right to reject any order in whole or in part.
MBIA Inc. provides financial guarantee insurance services to public finance markets in the United States and internationally. The company operates through U.S. Public Finance Insurance, and International and Structured Finance Insurance segments.
Linn Energy LLC (NASDAQ:LINE)’s shares dropped -8.94% to $11.30.
Linn Energy LLC (LINE) declared the pricing of its public offering of 16,000,000 of its units representing limited liability company interests at a price to the public of $11.79 per unit. The underwriters have a 30-day option to purchase up to an additional 2,400,000 units from the Company at the public offering price less the underwriting discount. The offering is predictable to settle and close on May 22, 2015, subject to customary closing conditions.
The Company anticipates to receive net proceeds from the offering of about $181 million (or about $208 million if the underwriters exercise their option to purchase additional units in full). Net proceeds from the offering are predictable to be used to repay debt under LINN Energy’s Credit Facility, which debt was primarily incurred to fund the open market repurchases of LINN and Berry’s senior notes.
Linn Energy, LLC, an independent oil and natural gas company, acquires and develops oil and natural gas properties in the Unites States. Its properties are located in the Rockies, the Hugoton Basin, California, east Texas and north Louisiana, the Mid-Continent, the Permian Basin, Michigan/Illinois, and south Texas.
At the end of Tuesday’s trade, Chesapeake Energy Corporation (NYSE:CHK)‘s shares dipped -2.15% to $14.57.
Chesapeake Energy Corporation (CHK) cited its reduced commodity price outlook that could pressure Chesapeake’s balance sheet, given increasing operating leverage to commodity prices and minimum volume contracts.
Goldman Sachs reduced its forecasts on a persistently high supply outlook.
Goldman lowered its 2016 to 2019 Brent crude price assumption to a range of between $62 to $65 a barrel, down from its previous $70 per barrel.
For 2020, the firm issued Brent crude price assumption of $55 a barrel from $70 a barrel.
The firm also raised its 2015 price assumption to $58 a barrel from $52 a barrel.
Brent crude for July delivery was down 0.85% to $66.24 a barrel as of 12:16 p.m. ET recently, while U.S. crude for June delivery fell 0.28% to $59.52 a barrel.
Oklahoma City, Okla.-based Chesapeake is a producer of natural gas and liquids. The company’s exploration and production segment is responsible for finding and producing natural gas, oil and natural gas liquids.
The company owns interests in about 47,400 natural gas and oil wells with positions in the resource plays counting the Eagle Ford Shale, and the Utica Shale.
Chesapeake Energy Corporation engages in the acquisition, exploration, and development of properties for the production of oil, natural gas and natural gas liquids (NGL) from underground reservoirs in the United States.
Halliburton Company (NYSE:HAL), ended its Tuesday’s trading session with -3.53% loss, and closed at $45.07.
Halliburton Company (HAL) will host a conference call on Monday, July 20, 2015, to talk about the second quarter 2015 financial results. The call will start at 8:00 AM Central Time (9:00 AM Eastern Time).
The company will issue a press release regarding the 2015 second quarter earnings preceding to the conference call. Halliburton’s second quarter press release will be posted on the Halliburton website at www.halliburton.com.
Halliburton Company provides a range of services and products to the upstream oil and natural gas industry worldwide. The company operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment provides production enhancement services, counting stimulation services and sand control services; and cementing services that comprise bonding the well and well casing, and casing equipment.
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