On Thursday, EQT Corporation (NYSE:EQT)’s shares inclined 5.40% to $76.27.
EQT Midstream Partners, LP (EQM) and EQT GP Holdings, LP (EQGP) declared second quarter 2015 financial and operating results. EQT Midstream Partners (EQM) net income for the quarter totaled $91.3 million, adjusted EBITDA was $110.5 million, and distributable cash flow was $102.8 million. EQM adjusted operating income was $99.8 million, or 43% higher than the same quarter last year. The non-GAAP financial measures are reconciled in the Non-GAAP Disclosures section of this news release.
EQT GP Holdings, LP (EQGP) owns a 30.2% limited partner interest and 2% general partner interest, together with 100% of the incentive distribution rights in EQM. EQGP accomplished its initial public offering of 26.45 million common units on May 15, 2015. Net income attributable to EQGP for the second quarter totaled $28.7 million.
Q2 Highlights:
- Declared agreement to construct natural gas header pipeline for Range Resources
- Accomplished the east side expansion project for Antero Resources
- Increasing EQM distributable cash flow guidance for 2015 to $390 – $400 million
EQT Corporation, together with its auxiliaries, operates as a natural gas company in the United States. It operates in two segments, EQT Production and EQT Midstream. The EQT Production segment explores for, in addition to develops and produces natural gas, natural gas liquids (NGLs), and crude oil primarily in the Appalachian Basin. As of December 31, 2014, it had 10.7 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across about 3.4 million gross acres, counting about 630,000 gross acres in the Marcellus play.
AbbVie Inc (NYSE:ABBV)’s shares gained 0.01% to $70.57.
C2N Diagnostics and AbbVie (ABBV) declared the European Commission (EC) granted marketing authorization for IMBRUVICA® (ibrutinib) as the first treatment option accessible in all 28 member states of the European Union (EU) for the treatment of Waldenstrom’s macroglobulinemia (WM), a rare, slow growing blood cancer, in adult patients who have received at least one preceding therapy, or in first line treatment for patients unsuitable for chemo-immunotherapy. Pharmacyclics LLC, an AbbVie company, received FDA approval for IMBRUVICA, which is also the first and only FDA-approved treatment for WM in the United States, in January 2015.1 The approval of IMBRUVICA to treat patients with WM triggers a $20 million milestone payment from Janssen.
IMBRUVICA is jointly developed and commercialized in the United States by Pharmacyclics and Janssen Biotech, Inc. In Europe, Janssen-Cilag International NV (Janssen) holds the marketing authorization and its associates market IMBRUVICA in EMEA (Europe, Middle East, Africa), in addition to the rest of the world. IMBRUVICA is already approved in Europe to treat adult patients with relapsed or refractory mantle cell lymphoma (MCL) and adult patients with chronic lymphocytic leukemia (CLL) who have received at least one preceding therapy or in first line use in the presence of 17p deletion or TP53 mutation in patients unsuitable for chemo-immunotherapy.
AbbVie Inc. discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company’s products comprise HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; VIEKIRA PAK, an all-oral, short-course, interferon-free therapy, with or without ribavirin, for adult patients with genotype 1 chronic hepatitis, counting those with compensated cirrhosis; Kaletra, an anti-HIV-1 medicine used with other anti-HIV-1 medications as a treatment that maintains viral suppression in people with HIV-1; Norvir, a protease inhibitor indicated in combination with other antiretroviral agents to treat HIV-1 infection; and Synagis to prevent respiratory syncytial virus infection in high risk infants.
At the end of Thursday’s trade, Laredo Petroleum Inc (NYSE:LPI)‘s shares dipped -2.27% to $9.49.
Laredo Petroleum, Inc. (LPI) will host a conference call on Thursday, August 6, 2015 at 9:00 a.m. CT (10:00 a.m. ET) to talk about its second-quarter 2015 financial and operating results. Laredo plans to release earnings the same day before market open. The Company also declares preliminary results for its commodity derivatives for the second quarter of 2015 and its updated basic and diluted weighted-average shares outstanding.
Laredo Petroleum, Inc. operates as an independent energy company in the United States. It focuses on the acquisition, exploration, and development of oil and natural gas properties primarily in the Permian Basin in west Texas. As of December 31, 2014, it had interests in the 196,683 net acres in the Permian Basin; and had total proved reserves of 247,322 thousand barrels of oil equivalent.
Range Resources Corp. (NYSE:RRC), ended its Thursday’s trading session with 3.79% gain, and closed at $42.97.
RANGE RESOURCES CORPORATION ( RRC) declared that it has called for redemption all $500 million in outstanding principal of its 6.75% Senior Subordinated Notes due 2020 (CUSIP No. 75281AAL3) at a price of 103.375% of the unpaid principal amount plus accrued interest. The notes will be redeemed on August 3, 2015. Call notices for this issue were sent by The Bank of New York Mellon Trust Company, N.A., the trustee for the notes, to all noteholders.
Range Resources Corporation, an independent natural gas, natural gas liquids (NGLs), and oil company, engages in the acquisition, exploration, and development of natural gas and oil properties in the United States. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and Midcontinent regions.
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