On Tuesday, SM Energy Co (NYSE:SM)’s shares inclined 3.03% to $47.30.
SM Energy Co (SM) apprehends that recent NGL price declines will hurt its 2015 total revenue by about $25 million, or by 1.5% of its total budgeted revenue. The company’s full-year budgeted revenue is rooted in production volumes and strip pricing as of Feb 3, 2015.
However, the NGL price sensitivity takes into account the same budgeted production volumes with actual realized NGL prices as of May 31, 2015. The nominal impact predictable from lower liquids prices is unlikely to hurt drilling or production plans.
In the first quarter of 2015, NGL volume was 43.3 thousand barrels per day (MBbls/d), up 34.9% from the first quarter of 2014. The company anticipates total production for 2015 to range 60.4–63.5 thousand barrels of oil equivalent per day (MBoe/d). As of Mar 31, 2015, SM Energy had a cash balance of $0.02 million and long-term debt of $2,616.5 million, with a debt-to-capitalization ratio of 53.9%.
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. It primarily has operations in the South Texas and Gulf Coast region, which focuses primarily on Eagle Ford shale program; Rocky Mountain region comprising the Bakken/Three Forks formations in the North Dakota portion of the Williston Basin; Permian region covering western Texas and southeastern New Mexico; and Mid-Continent region, which manages Haynesville and Woodford shale assets.
Ameriprise Financial, Inc. (NYSE:AMP)’s shares gained 0.32% to $129.76.
Ameriprise Financial, Inc. (AMP) plans to declare its second quarter 2015 financial results on Wednesday, July 22, 2015 after the close of the New York Stock Exchange. The company will host a conference call to talk about the results on Thursday, July 23, 2015 at about 9:00 a.m. (ET).
The live audio webcast of the investor call, in addition to the earnings release, quarterly statistical supplement and presentation slides, will be accessible to the general public on the company’s website at ir.ameriprise.com.
Ameriprise Financial, Inc., through its auxiliaries, provides various financial products and services to individual and institutional clients in the United States and internationally. The companys Advice & Wealth Administration segment provides financial planning and advice, in addition to full-service brokerage services primarily to retail clients through its advisors. Its Asset Administration segment offers investment advice and investment products to retail, high net worth, and institutional clients through unassociated third party financial institutions and institutional sales force.
At the end of Tuesday’s trade, Fifth Street Finance Corp. (NASDAQ:FSC)‘s shares surged 1.03% to $6.85.
Fifth Street Finance Corp. (FSC) declared that its portfolio company, HFG Holdings, LLC (“Healthcare Finance Group” or “HFG”), a specialty lender providing asset-backed lending and term loan products to various segments of the healthcare industry, has been sold to MidCap Financial. FSC attained HFG in June of 2013 and, together with administration, expanded the company’s suite of products and capabilities, positioning it for future growth.
Fifth Street Finance Corp. is a business development company specializing in investments in middle market, bridge financing, first and second lien debt financing, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, and administration buyouts in small and mid-sized companies. It seeks to invest in education services, business services, retail and consumer, healthcare, manufacturing, food and restaurants, construction and engineering, and media and advertising sectors.
Cousins Properties Inc (NYSE:CUZ), ended its Tuesday’s trading session with -0.28% loss, and closed at $10.67.
Cousins Properties Inc (CUZ) inked a lease renewal deal with Transocean Ltd. for 255,413 square feet of space at Greenway Plaza in Houston, TX. The deal reflects solid demand for the company’s properties.
Transocean occupies the entire 4 Greenway Plaza and the above mentioned deal fully renews its current occupied space at the building, postponing the lease expiration to Jan 2023 from Jan 2017. The company also occupies an additional space of 13,552 square feet at 3800 Buffalo Speedway in Greenway Plaza, the lease for which expires in Jan 2017.
Notably, this international provider of offshore contract-drilling services for energy companies is the fourth largest customer in Cousins’ Houston portfolio. Following the above mentioned renewal, the Houston portfolio’s weighted average lease term presently stands at around 7 years with no single lease greater than 100,000 square feet expiring until Dec 2018.
This alleviates the company’s lease exposure in Houston for quite some time and ensures a steady source of rental revenues. Encouragingly, with the Transocean renewal, the leasing at Greenway Plaza now stands at 90%.
Cousins Properties Incorporated, a real estate investment trust (REIT), owns, develops, and manages real estate portfolio, in addition to performs certain real estate-related services in the United States. The company operates through four divisions: Office/Multi-Family, Retail, Industrial, and Land. The Office/Multi-Family division develops and manages office projects primarily in Austin, Dallas, Charlotte, Birmingham, and Atlanta; develops and sells multi-family projects in urban locations in the southeastern United States; and manages and leases office properties owned by third parties.
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