On Monday, Shares of Encana Corporation (NYSE:ECA), lost -1.42% to $13.87.
Today, Encana Corporation, delivered strong results in the first quarter, during which it grew liquids production and cash flow, advanced the development of its four most planned assets and prudently managed its balance sheet. Highlights comprise:
- cash flow of about $495 million, up 31 percent from the fourth quarter of 2014
- liquids production of about 120,700 barrels per day (bbls/d), up 78 percent year-over-year and 13 percent from the fourth quarter of 2014
- noteworthy improvements in well performance, drilling and completion cycle times and cost savings in the company’s four most planned assets, the Montney, Duvernay, Eagle Ford and Permian
- about 80 percent of capital invested in the company’s four most planned assets
- continued efficiencies that have the company on track to deliver the full-year capital savings of $300 million and direct operating cost savings of $75 million embedded in its 2015 guidance
- accomplished a bought deal common share offering in March, and in early April used the net proceeds, together with cash on hand, to redeem about $1.3 billion of long-term debt.
Encana Corporation, together with its auxiliaries, engages in the development, exploration, production, and marketing of natural gas, oil, and natural gas liquids in Canada and the United States.
At the end of Monday’s trade, Shares of The Gap, Inc. (NYSE:GPS), gained 0.66% to $39.87.
The Gap, stated that April net sales were $1.21 billion for the four-week period ended May 2, 2015, contrast with net sales of $1.33 billion for the four-week period ended May 3, 2014. For the first quarter of fiscal year 2015, Gap Inc.’s net sales reduced 3 percent to $3.66 billion contrast with $3.77 billion for the first quarter last year.
The translation of net sales in foreign currencies into U.S. dollars negatively influenced the company’s stated sales for the first quarter of fiscal year 2015 by about $90 million, primarily due to the weakening Japanese yen and Canadian dollar. On a constant currency basis, net sales for the first quarter of fiscal year 2015 reduced 1 percent contrast with last year. In calculating the net sales change on a constant currency basis, current year foreign exchange rates are applied to both current year and preceding year net sales. This is done to enhance the visibility of underlying sales trends, not taking into account the impact of foreign currency exchange rate fluctuations.
The Gap, Inc. operates as an apparel retail company worldwide. It offers apparel, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Athleta, and Intermix brand names. The company provides apparel, handbags, shoes, jewelry, personal care products, and eyewear for men and women; and performance and lifestyle apparel for use in yoga, strength training, and running, in addition to seasonal sports, counting skiing and tennis.
Finally, Rowan Companies plc (NYSE:RDC), ended its last trade with 1.23% gain, and closed at $23.12.
For the three months ended March 31, 2015, Rowan Companies, stated net income of $123.7 million, or $0.99 per share, contrast to $59.6 million, or $0.48 per share in the first quarter of 2014. Net income for the preceding-year quarter comprised of a litigation settlement gain which raised net income from ongoing operations by $20.9 million, or $0.17 per share. The preceding-year quarter also comprised of a gain from suspended operations which raised net income by $4.0 million, or $0.03 per share. Not taking into account the impact of these items, net income for the first quarter of 2014 was $34.7 million or $0.28 per share.
Rowan’s revenues were $547.0 million in the first quarter of 2015, an enhance of 45% over the preceding-year quarter due primarily to the contributions from three of the Company’s newbuild ultra-deepwater drillships. The first two ultra-deepwater drillships began operating in April and October 2014, and the third ultra-deepwater drillship began operating on February 1, 2015.
Rowan Companies plc provides offshore oil and gas contract drilling services. It operates a fleet of 30 self-elevating mobile offshore jack-up drilling units, in addition to 3 ultra-deepwater drill ships. The company operates in the United States Gulf of Mexico, the United Kingdom, and Norwegian sectors of the North Sea, the Middle East, West and North Africa, Southeast Asia, and Trinidad.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
