On Thursday, Shares of Chesapeake Energy Corporation (NYSE:CHK), gained 1.70% to $8.36, despite oil futures finished at their lowest level in nearly two weeks on Thursday after U.S. government data showed a hefty weekly improvement in crude stockpiles on the back of a further slowdown in refinery activity.
Traders appeared reluctant to pull prices down much further after losses over the past three sessions, as data also revealed a fall in weekly domestic oil production and the market awaits Friday’s weekly count on the number of active U.S. rigs drilling for oil.
November West Texas Intermediate crude settled at $46.38 a barrel, down 26 cents, or 0.6%, on the New York Mercantile Exchange. Prices haven’t settled at a level that low since Oct. 5, but they managed to pare much of their earlier losses, which took prices to lows under $45.30 in the wake of the supply data.
In other news, Chesapeake Energy Corporation, declared that R. Brad Martin has been designated non-executive Chairman of the Company’s Board of Directors, effective right away. As part of the transition, Archie W. Dunham will remain a director and has been named Chairman Emeritus.
Dunham commented, “Chesapeake will benefit from Brad’s unique insight and extensive business experience as he serves in his new role as Chairman of the Board. Chesapeake has a bright future, given its exceptional portfolio, operations, and administration team. With all the meaningful changes we have made at Chesapeake over the past three years, noteworthy opportunities lie ahead.”
Martin, Chairman of RBM Ventures and Stepped Down Chairman and CEO of Saks Incorporated, was designated to Chesapeake’s Board of Directors in June 2012. He also serves on the Board of Directors of FedEx Corporation and First Horizon National Corporation. He holds an undergraduate degree from the University of Memphis and an MBA from Vanderbilt University. Martin has also served as Interim President of the University of Memphis.
Chesapeake Energy Corporation produces oil and natural gas through acquisition, exploration, and development of from underground reservoirs in the United States. It holds interests in natural gas resource plays, counting the Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin of West Virginia and Pennsylvania; and the Barnett Shale in the Fort Worth Basin of north-central Texas.
Finally, Boston Scientific Corporation (NYSE:BSX), ended its last trade with 1.14% gain, and closed at $16.85.
Boston Scientific Corporation, declared that it has closed on an additional round of financing with MValve Technologies Ltd., a developer of a percutaneous mitral valve replacement system, designed to work with the Boston Scientific LOTUS™ Valve, creating a unique mitral regurgitation (MR) treatment solution. Boston Scientific has offered the company with funding since 2012 and has an exclusive option to acquire MValve.
MValve Technologies plans to utilize the new financing, in part, to fund a first-in-human clinical trial for the MValve docking system for transcatheter mitral valve replacement (TMVR) in patients with mitral regurgitation. The approach, in which the Boston Scientific Lotus Valve is deployed inside the MValve docking system, is designed to enable the treatment of mitral regurgitation in a broad range of patients, and to improve long-term clinical outcomes in this patient population. Both the dock and valve can be repositioned and recaptured, enabling precise valve placement and physician confidence preceding to releasing.
Mitral regurgitation is the most common type of heart valve disorder and occurs when the mitral valve does not close properly, causing an abnormal reversal of blood to flow from the left ventricle into the left atrium.
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. The company operates in three segments: Cardiovascular, Rhythm Administration, and MedSurg.
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