On Monday, Patterson-UTI Energy, Inc. (NASDAQ:PTEN)’s shares declined -1.34% to $20.68.
Patterson-UTI Energy, Inc. (PTEN) declared that its May 2015 drill rig count averaged at 123–122 rigs in the U.S. and 1 in Canada. This marks a steep decline from 133 rigs operational in April.
Patterson-UTI further added that for the two months ending May 31, its rig count averaged 126 in the U.S. and 2 in Canada.
The weak crude pricing environment has forced most drillers to cut back on the number of rigs. Also, fewer new contracts and declining day rates have made maintaining profitability a challenge. Retiring rigs is therefore an effective way to curb operating expenses.
Moreover, Patterson-UTI has been undertaking other measures like lowering capital spending to tackle the pricing woes. The company has declared a 29% cut in its 2015 spending.
Patterson-UTI is a major onshore contract driller in the U.S. with over 239 land-based rigs that operate primarily in the oil and natural gas producing regions of North America.
Patterson-UTI Energy, Inc., through its auxiliaries, provides onshore contract drilling services to major and independent oil and natural gas operators in the United States and Canada. The company operates through three segments: Contract Drilling, Pressure Pumping, and Oil and Natural Gas.
First Horizon National Corp (NYSE:FHN)’s shares gained 0.52% to $15.40.
First Horizon National Corp (FHN) board of directors has approved payment of a quarterly cash dividend on its common stock of $.06 per share. The dividend is payable on July 1, 2015, to the common shareholders of record on June 12, 2015.
The board of directors has also approved payment of a quarterly cash dividend of $1,550.00 per share on FHN’s Non-Cumulative Perpetual Preferred Stock, Series A (“Series A Preferred Stock”). This equates to a cash dividend of $0.387500 per Depositary Share (NYSE:FHN PrA), which each represent a 1/4000th interest in a share of the Series A Preferred Stock. The dividend is payable on July 10, 2015, to shareholders of record on June 25, 2015.
First Horizon National Corporation operates as the bank holding company for First Tennessee Bank National Association that provides various financial services in the United States and internationally. The company offers general banking services for consumers, businesses, financial institutions, and governments.
At the end of Monday’s trade, NOW Inc (NYSE:DNOW)‘s shares dipped -1.47% to $21.48.
NOW Inc (DNOW) has planned a conference call to talk about the results for the second quarter of 2015 on Wednesday, August 5, 2015, at 8:00 a.m. (US Central Time). Financial results for the second quarter of 2015 are predictable to be released that morning before the market opens.
NOW Inc. distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, electrical products, artificial lift solutions, mill tools, safety supplies, and spare parts, in addition to provides application systems and parts integration, optimization solutions, and after-sales support services.
Tahoe Resources Inc (NYSE:TAHO), ended its Monday’s trading session with 3.06% gain, and closed at $15.01.
Tahoe Resources Inc (TAHO) declared its sixth monthly dividend for 2015 of USD $0.02 per common share. Shareholders of record at the close of business on Thursday, June 18, 2015 will be entitled to receive payment of this dividend on Thursday, June 25, 2015.
This dividend qualifies as an “eligible dividend” for Canadian income tax purposes. Following tax legislation enacted in 2007, Canadian resident individuals who receive “eligible dividends” will be entitled to an improved gross-up and dividend tax credit on such dividends.
Tahoe Resources Inc., together with its auxiliaries, explores for and produces precious metals in the Americas. The company primarily produces silver, in addition to gold, lead, and zinc.
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