On Monday, Apache Corporation (NYSE:APA)’s shares declined -0.38% to $57.96.
Apache Corporation (APA) declared that it has accomplished the sale of its earlier declared Australian upstream operations. The company has sold its associate – Apache Energy Limited – to a group of private equity funds that are managed by Macquarie Capital Group Limited and Brookfield Asset Administration Inc.
Apache received net proceeds of $1.9 billion for the deal. The effective date of the transaction is Oct 1, 2014.
Formerly, Apache had stated that production from its above-mentioned Australian associate and its auxiliaries averaged about 49,000 barrels of oil equivalent per day in March.
Apache added that the transaction is in accordance with its portfolio repositioning strategy. The company has directed its focus toward onshore North America over the past few years through asset sales and purchases worth $17 billion each. Also, with the Australian asset sale, about 70% of the company’s total production will now come from North America. Moreover, Apache’s North Sea and Egyptian operations complement its North American portfolio.
Apache Corporation, an independent energy company, explores, develops, and produces natural gas, crude oil, and natural gas liquids. It operates onshore and offshore assets primarily in the Permian Basin, the Anadarko basin in western Oklahoma, and the Texas Panhandle, Gulf Coast areas of the United States, in addition to in Western Canada. The company also operates assets in Egypt, Australia, and offshore the United Kingdom in the North Sea.
ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS)’s shares dropped -3.86% to $62.45.
ISIS Pharmaceuticals, Inc. (ISIS) offered an update on its ongoing open-label Phase 2 clinical study of ISIS-SMNRx in infants with Type I spinal muscular atrophy (SMA). Formerly the company stated data from this study on event-free survival, measures of muscle function and assessments of developmental milestones. The data stated recently show continued enhances in median event-free survival and muscle function scores in addition to achievement of developmental milestones. The safety and tolerability profile of ISIS-SMNRx to date continues to support further development. Isis is presently collaborating with Biogen to develop and potentially commercialize ISIS-SMNRx to treat patients with SMA.
The study was designed to evaluate the safety and tolerability of ISIS-SMNRx in infants with Type I SMA and to explore potential efficacy endpoints to support the Phase 3 program. A total of 20 infants with SMA were dosed with either 6 mg or 12 mg of ISIS-SMNRx. SMA infants 7 months or younger entered the study sequentially, such that the dosing of infants in the 12 mg cohort began five to 15 months after the first infant was dosed in the 6 mg cohort. Nineteen infants accomplished the three induction doses and are evaluable for efficacy. Clinical efficacy endpoints comprise event-free survival, as defined by time to permanent ventilation or death; CHOP-INTEND motor function scores; and assessments of developmental milestones. An analysis as of April 17, 2015 showed that since the last analysis as of September 2, 2014 (seven and a half months ago):
- The median event-free age has raised for infants in both dosing cohorts, from 16.3 months to 19.9 months for the four infants in the 6 mg cohort, and from 11.6 months (n=12) to 16.7 months (n=15) for the infants in the12 mg cohort.
- For the seven infants in the 12 mg cohort who were in the original group and stated on at the American Academy of Neurology meeting in 2014, the median event-free age has raised from 9.6 months on April 7, 2014 to 21.4 months on April 17, 2015.
- Two of the four infants in the 6 mg cohort remain enrolled in the study and are now older than 27 months of age. In the 12 mg cohort, 11 of 15 infants (73%) are still event-free and older than 15 months of age.
Isis Pharmaceuticals, Inc. engages in the discovery and development of antisense drugs using novel drug discovery platform. The company’s flagship product comprises the KYNAMRO injection, which is an apo-B synthesis inhibitor for patients with homozygous familial hypercholesterolemia; and for the reduction of low-density lipoprotein cholesterol.
At the end of Monday’s trade, Kraft Foods Group Inc (NASDAQ:KRFT)‘s shares surged 0.07% to $84.76.
Kraft Foods Group Inc (KRFT) announced that the Canadian Competition Bureau has approved its merger with privately owned ketchup maker, H.J. Heinz Company. The regulatory body issued a “no action” letter, which indicates that it has no issues with the proposed merger of the two companies.
The merger still requires the approval of Kraft shareholders and needs to meet other customary closing conditions. In this regard, Kraft Foods will hold a meeting with its stockholders to vote on the merger on Jul 1, 2015.
Earlier this week, Kraft issued a press release stating that the waiting period under the Hart-Scott-Rodino (HSR) Act, in relation to its proposed merger with H.J. Heinz, Company, has expired.
Kraft Foods Group, Inc. operates as a consumer packaged food and beverage company. It operates through six segments: Cheese, Refrigerated Meals, Beverages, Meals & Desserts, Enhancers & Snack Nuts, and Canada. The company provides natura, cream, processed, grated and shredded, and cottage chesses, in addition to sour creams; cold cuts, hot dogs, bacons, and protein packs; lunch combinations, pickles, and meat alternatives; coffees, hot beverage systems, packaged juice drinks, powdered beverages, and liquid concentrates; and refreshment beverages.
Baker Hughes Incorporated (NYSE:BHI), ended its Monday’s trading session with -0.55% loss, and closed at $63.78.
Baker Hughes Incorporated (BHI) declared that the international rig count for May 2015 was 1,158, down 44 from the 1,202 counted in April 2015, and down 192 from the 1,350 counted in May 2014. The international offshore rig count for May 2015 was 284, down 16 from the 300 counted in April 2015, and down 42 from the 326 counted in May 2014.
The average U.S. rig count for May 2015 was 889, down 87 from the 976 counted in April 2015, and down 970 from the 1,859 counted in May 2014. The average Canadian rig count for May 2015 was 80, down 10 from the 90 counted in April 2015, and down 82 from the 162 counted in May 2014.
Baker Hughes Incorporated supplies oilfield services, products, technology, and systems to the oil and natural gas industry worldwide. The company offers drilling and evaluation products and services, which comprise drill bits for performance drilling, hole enlargement, and coring; conventional and rotary steerable systems used to drill wells; measurement-while-drilling and logging-while-drilling systems to perform reservoir navigation services; drilling optimization services; tools for coil tubing drilling and wellbore re-entry systems; coring drilling systems; surface logging; emulsion and water-based drilling fluids systems; reservoir drill-in fluids; and fluids environmental services.
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