On Monday, Stone Energy Corporation (NYSE:SGY)’s shares declined -5.63% to $4.02.
Stone Energy Corporation (SGY) offered a drilling and production update. In the Gulf of Mexico deepwater, operations at the Cardona #6 development well, located in Mississippi Canyon block 29, have been proceeding ahead of plan and below budget, and drilling has been accomplished through the targeted zones. The well encountered about 288 feet of net pay in two intervals, similar to the Cardona #5 net pay of 275 feet. Analysis of logging and pressure data confirmed the existence of oil in the pay zones. The well has been successfully cased and cemented across all productive zones, the subsea tree has been installed and completion operations have begun. The well will be tied into our existing Cardona subsea infrastructure, which flows into Stone’s Pompano platform. It is predictable that gross production from Cardona #6 will reach about 5,000 Boe per day (65% working interest) from the lower completion by late September.The upper completion is predictable to have a similar production rate and will be accessed in the future by hydraulically shifting sleeves between the upper and lower completions.
Upon completion of the Cardona #6 well, the ENSCO 8503 deepwater drilling rig will be released for about 60 days to receive planned maintenance and to be outfitted with mooring capabilities. The rig will then be mobilized to Mississippi Canyon block 26 to finish the completion of the Amethyst discovery (100% working interest). Amethyst will also be tied back to the Pompano platform, where first production is predictable early in the first quarter of 2016. Following the Amethyst completion, the rig is presently projected to drill the Cardona #7 development well and the Lamprey deep water exploration prospect.
Stone Energy Corporation, an independent oil and natural gas company, engages in the acquisition, exploration, exploitation, development, and operation of oil and gas properties in the Gulf of Mexico and the Appalachia region. As of December 31, 2014, it had estimated proved oil and natural gas reserves of about 915 billion cubic feet of gas equivalent. The company was founded in 1993 and is headquartered in Lafayette, Louisiana.
Darling Ingredients Inc (NYSE:DAR)’s shares dropped -4.01% to $12.44.
Darling Ingredients Inc. (DAR), a global leader in converting edible and inedible bio-nutrient streams into a wide range of ingredients and specialty products for customers in the pharmaceutical, food, pet food, feed, technical, fuel, bioenergy, and fertilizer industries, recently declared financial results for the second quarter ended July 4, 2015, and that its Board of Directors approved the repurchase of up to an aggregate of $100 million of Darling’s common stock, depending on market conditions.
Fiscal 2015
- $0.7 million ($0.00 per diluted share) associated with the integration of VION Ingredients and Rothsay and the implementation of internal controls over financial reporting per the Sarbanes-Oxley Act of 2002 for VION Ingredients; and
- $5.8 million ($0.04 per diluted share) related to the write-off of deferred loan costs associated with the retirement of the Company’s European portion of its term loan B note on June 3, 2015.
Darling Ingredients Inc. develops, produces, and sells natural ingredients from edible and inedible bio-nutrients worldwide. It operates in three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. The company offers a range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, technical, fuel, bioenergy, and fertilizer industries. It collects and transforms various animal by-product streams into useable and specialty ingredients, such as gelatin, edible fats, feed-grade fats, animal proteins and meals, plasma, pet food ingredients, organic fertilizers, yellow grease, fuel feedstocks, green energy, natural casings, and hides. The company also recovers and converts used cooking oil and commercial bakery residuals into valuable feed and fuel ingredients.
At the end of Monday’s trade, Organovo Holdings Inc (NYSEMKT:ONVO)‘s shares surged 1.40% to $2.17.
Organovo Holdings, Inc. (ONVO “), stated its financial results for the first quarter of fiscal 2016 ended June 30, 2015.
Recent Corporate Highlights Comprised of:
- Celebrated the successful launch of its exVive3DTM Human Liver Tissue, with an declarement of the launch results showing about $2 million in total contract bookings as of June 9, 2015.
- Presented data on the Company’s in vitro three-dimensional kidney tissue at the 2015 Experimental Biology conference in Boston, Massachusetts, demonstrating fully human kidney proximal tubular tissues were generated that were three-dimensional, and compriseed of multiple tissue-relevant cell types arranged to recapitulate the renal tubular/interstitial interface. This breakthrough result demonstrated a proof of concept that kidney is on the way to becoming another core commercial tissue for Organovo.
- Declared a partnership with L’Oreal USA, wherein L’Oreal’s U.S.-based global Technology Incubator and Organovo will leverage Organovo’s proprietary NovoGen Bioprinting Platform and L’Oreal’s expertise in skin engineering to develop 3D printed skin tissues for product evaluation and other areas of advanced research, marking the first-ever application
Organovo Holdings, Inc., an early commercial stage company, focuses on developing and commercializing functional human tissues that could be employed in drug discovery and development, biological research, and as therapeutic implants for the treatment of damaged or degenerating tissues and organs.
Hershey Co (NYSE:HSY), ended its Monday’s trading session with -3.41% loss, and closed at $86.47.
The Hershey Company (HSY) declared the pricing of its offering of $300 million of 1.600% notes due 2018 and $300 million of 3.200% notes due 2025 (the “Notes Offering”) in a public offering. The Hershey Company intends to use the net proceeds of the Notes Offering to repay at maturity its $250 million aggregate principal amount of 4.85% Notes due 2015, to fund its cash tender offer for up to $100 million aggregate purchase price of its $100 million aggregate principal amount of 8.80% Debentures due 2021 and its $250 million aggregate principal amount of 7.20% Debentures due 2027 and for general corporate purposes.
A registration statement regardingthe Notes Offering has been filed with the U.S. Securities and Exchange Commission and is effective. This press release shall not constitute an offer to sell or an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Notes Offering may be made only by means of a prospectus supplement and the accompanying prospectus.
The Hershey Company manufactures, imports, markets, distributes, and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and sugar confectionery products; pantry items, such as baking ingredients, toppings, sundae syrups, and beverages; snack items, counting spreads; and gum and mint refreshment products comprising chewing gums and bubble gums.
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