On Wednesday, Shares of Denbury Resources Inc. (NYSE:DNR), gained 1.76% to $6.92, as oil prices are at their highest for a month on Wednesday after Saudi Arabia said it had raised output over the past three months in response to stronger global demand. It refuted media report it was pumping more to compensate for lower prices.
OPEC kingpin, Saudi Arabia, said Tuesday in a rare official statement that it raised output only to meet the rise in demand stoked by lower prices. It also added that an integrated team of experts and advisers supported the decision.
Denbury Resources Inc. operates as an independent oil and natural gas company in the United States. The company primarily focuses on improved oil recovery utilizing carbon dioxide. It holds properties located in Mississippi, Texas, Louisiana, and Alabama in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.
Shares of Alpha Natural Resources, Inc. (NYSE:ANR), declined -2.95% to $0.47, during its last trading session, hitting its lowest level.
On May 29, Alpha Natural Resources, and its operating associate, Alpha Coal West, Inc., have been notified by the Wyoming Department of Environmental Quality’s Land Quality Division (LQD) that the LQD believes the companies “no longer qualify under the self-bonding program” in the State. Alpha disagrees with LQD’s assessment, continues to believe it has fully complied with the regulations, and is presently reviewing all options to reverse or rectify this flawed judgment by the LQD.
In each annual self-bond renewal process, Alpha has determined its compliance status by consistently following a methodology prescribed by state regulations, and it has shared these calculations with the LQD as a part of each renewal application. The LQD has never formerly commented on Alpha’s calculation methodology. At the request of the LQD, Alpha also recently offered supplemental fiscal information to the division for its review. However, despite repeated attempts to gain clarity from the LQD regarding any changes the division has made in interpreting these regulations, numerous questions remain unanswered that Alpha believes should have been addressed preceding to any determination being made. According to the LQD’s notification, Alpha now has 90 days to provide substitute bonding.
Alpha Natural Resources, Inc., together with its auxiliaries, engages in extracting, processing, and marketing steam and metallurgical coal in Kentucky, Pennsylvania, Virginia, West Virginia, and Wyoming. It operates through two segments, Eastern Coal Operations and Western Coal Operations.
Finally, Groupon, Inc. (NASDAQ:GRPN), ended its last trade with -0.51% loss, and closed at $5.82.
Groupon, declared it has named Rich Williams as Chief Operating Officer to oversee its global businesses and operations. Williams presently serves as President of North America and will continue in that capacity while adding responsibility for Groupon’s international regions.
“Rich has been integral in steering our North American local business to three successive quarters of double-digit growth and assisting to lead Groupon’s transformation to a mobile commerce marketplace,” said CEO Eric Lefkofsky. “As North America continues to be the leading edge of our tools, systems and processes, Rich is perfectly positioned to bring that operational leverage to our international markets.”
The leadership teams for EMEA, Rest of World and Global Operations will report to Williams, in addition to his current team.
Groupon, Inc. operates online local commerce marketplaces that connect merchants to consumers by offering goods and services at a discount worldwide. It also offers deals on products for which it acts as the merchant of record.
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