On Monday, Erin Energy Corp (NYSEMKT:ERN)’s shares declined -25.08% to $4.90.
Erin Energy Corp (ERN) offered an update of its current operations.
Nigeria
The Company is ongoing the completion operations on the Oyo-7 well, and production from the well is predictable to commence by mid-June.
The Oyo-8 well’s performance has been exceptional, and the well is now producing at a stabilized rate of more than 7,200 barrels of oil per day. Further, the Company has begun talk aboutions on rig availability for its planned drilling campaign, compriseing of Erin Energy’s first exploration well in the Miocene formation later this year, the Oyo-9 development well in 1H 2016, and a water injection well to further enhance production from the Oyo field. At the core of its near-term offshore exploration program in Nigeria, Erin Energy has four drill-ready exploration prospects, with combined recoverable P50 resources of about three billion barrels of oil equivalent (83% oil).
Ghana
The Company has accomplished the static and dynamic modelling of the three formerly discovered oil fields in its Expanded Shallow Water Tano block, which has resulted in sizeable oil and gas in-place volumes. Erin Energy continues to work with an independent reservoir engineering firm and is creating development scenarios for the block and running preliminary economics on the volumes. Based on these initial results, the Company anticipates to declare commerciality no later than September 2015.
The Gambia
Erin Energy recently met with the government of The Gambia to review the Company’s work plan, which comprises a 3D seismic acquisition this year in blocks A2 and A5 and the drilling of an exploration well in early 2018. Permits have been granted, and the Company anticipates commencing the 3D seismic acquisition in early July 2015.
Kenya
The Company has accomplished preliminary interpretation of the seismic data attained on blocks L1b and L16 and has identified several promising leads. Based on the results of the data interpretation, Erin Energy has met with the government of Kenya and has requested approval to move into the first exploration extension period on both blocks.
Erin Energy Corporation operates as an independent oil and gas exploration and production company focused on energy resources in Africa. Its asset portfolio comprises of nine licenses covering an area of 43,000 square kilometers (10 million acres), counting production and exploration properties offshore Nigeria; and exploration licenses offshore Ghana, Kenya, and Gambia, in addition to onshore Kenya. Erin Energy is headquartered in Houston, Texas.
Allstate Corp (NYSE:ALL)’s shares dropped -1.04% to $66.67.
Allstate Corp (ALL) declared estimated catastrophe losses for the month of April 2015 of $273 million, pre-tax ($177 million after-tax). Catastrophe losses occurring in April comprised six events at an estimated cost of $256 million, pre-tax, plus raised reserve reestimates of prior stated catastrophe losses. Four wind/hail weather events accounted for over 90% of the estimated catastrophe losses for April events.
The Allstate Corporation (ALL) is the nation’s largest publicly held personal lines insurer, protecting about 16 million households from life’s uncertainties through auto, home, life and other insurance offered through its Allstate, Esurance, Encompass and Answer Financial brand names. Allstate is widely known through the slogan “You’re In Good Hands With Allstate®.” The Allstate brand’s network of small businesses offers auto, home, life and retirement products and services to customers in the United States and Canada.
The Allstate Corporation, through its auxiliaries, engages in the property-liability insurance and life insurance businesses in the United States and Canada. The company’s Allstate Protection segment sells private passenger auto and homeowners insurance products under the Allstate, Encompass, Esurance brand names.
At the end of Monday’s trade, Costco Wholesale Corporation (NASDAQ:COST)‘s shares dipped -1.12% to $137.23.
Costco Wholesale Corporation (COST) stated net sales of $8.98 billion for the month of May, the four weeks ended May 31, 2015, an enhance of two percent from $8.78 billion during the similar period last year. For the thirty-nine weeks ended May 31, 2015, the Company stated net sales of $85.31 billion, an enhance of four percent from $81.99 billion during the similar period last year.
Costco presently operates 674 warehouses, counting 475 in the United States and Puerto Rico, 89 in Canada, 35 in Mexico, 26 in the United Kingdom, 20 in Japan, 11 in Korea, 10 in Taiwan, seven in Australia and one in Spain. The Company plans to open up to an additional 14 new warehouses (counting one relocation to a larger and better-located facility) prior to the end of its fiscal year on August 30, 2015. Costco also operates electronic commerce web sites in the U.S., Canada, the United Kingdom and Mexico.
ertain statements contained in this document and the pre-recorded telephone message constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company anticipates or anticipates may occur in the future. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties comprise, but are not limited to, domestic and international economic conditions, counting exchange rates, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, breaches of security or privacy of member or business information, conditions affecting the acquisition, development, ownership or use of real estate, capital spending, actions of vendors, rising costs associated with employees (generally counting health care costs), energy and certain commodities, geopolitical conditions, and other risks identified from time to time in the Company’s public statements and reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and we do not undertake to update these statements, except as required by law.
Costco Wholesale Corporation, together with its auxiliaries, operates membership warehouses. The company offers branded and private-label products in a range of merchandise categories. It provides dry and institutionally packaged foods; snack foods, candy, tobacco, alcoholic and nonalcoholic beverages, and cleaning and institutional supplies; appliances, electronics, health and beauty aids, hardware, garden and patio, and office supplies; meat, bakery, deli, and produce; and apparel, small appliances, and home furnishings.
Duke Realty Corp (NYSE:DRE), ended its Monday’s trading session with -1.21% loss, and closed at $18.83.
The Chicago office of Duke Realty Corp (DRE) has reached a lease agreement for three of its buildings in I-55 submarket of Chicago, comprising around 500,000 square feet. Given the huge demand of quality space in the I-55 submarket, this marks a very noteworthy agreement for the Indianapolis, IN-based real estate investment trust (“REIT”).
Duke Realty is engaged in owning, managing and developing industrial, healthcare and office properties across the nation. As of Mar 31, 2015, the REIT solely or jointly owned 720 industrial, office, medical office and other properties. Of the total assets, 700 (stretching over 147.5 million square feet) are in-service properties and 20 (spanning around 5.4 million square feet) are under development. Again, in the greater Chicago region, Duke Realty owns, manages or has under development 12.2 million square feet of industrial properties.
The latest deal comprises an expansion by RTC, Inc., a designer of retail marketing displays, at 335 Crossroads Parkway in Crossroads Business Park. It also involves a new lease with APL Warehouse Logistics Administration, Inc., a third-party logistics services provider, for two of its buildings at Crossroads Business Park in Bolingbrook.
Duke Realty Corporation is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It offers a single point of responsibility for all aspects of a project, counting leasing, asset administration, construction and development. The firm primarily invests in commercial real estate sector. It was founded in 1972 and is headquartered in Indianapolis, Indiana with additional offices in Atlanta, Georgia; Baltimore, Maryland; Central Florida; Chicago, Illinois; Cincinnati, Ohio; Columbus, Ohio; Dallas, Texas; Houston, Texas; Minneapolis, Minnesota; Nashville, Tennessee; New Jersey; Northern and Southern California; Pennsylvania; Phoenix, Arizona; Raleigh, North Carolina; St. Louis, Missouri; Savannah, Georgia; Seattle, Washington; Washington D.C.; and South Florida.
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