On Monday, Whiting Petroleum Corp (NYSE:WLL)’s shares declined 1.92% to $33.15.
Whiting Petroleum Corporation (WLL) declared that it has commenced an offer to exchange all of its outstanding, unregistered 6.25% Senior Notes due 2023 (the “Original Notes”) for new, registered 6.25% Senior Notes due 2023 (the “New Notes”).
The terms of the New Notes to be issued in the exchange offer are substantially identical to those of the Original Notes, except that the New Notes will not have securities law transfer restrictions, and the registration rights regarding the Original Notes and the New Notes will not provide for the payment of additional interest under circumstances regarding the timing of the exchange offer.
The exchange offer will expire at 5:00 p.m. New York City time, on July 1, 2015, unless extended by Whiting Petroleum Corporation. Valid tenders of the Original Notes must be made, and may be withdrawn at any time, before the exchange offer expires.
Whiting Petroleum Corporation, an independent oil and gas company, acquires, explores, develops, and produces crude oil, natural gas liquids, and natural gas in the Rocky Mountains and Permian Basin regions of the United States. It sells oil and gas to end users, marketers, and other purchasers.
Frontline Ltd. (NYSE:FRO)’s shares gained 0.73% to $2.75.
Ship Finance owns about 28% in Frontline Ltd. (FRO). Reference is made to the press release of May 29, 2015, announcing that Ship Finance International Limited had reached a heads of agreement to amend the long-term chartering agreements with Frontline Ltd.
The agreement is now accomplished, and Frontline has issued and delivered 55 million new shares to Ship Finance. The shares represent about 28% of the total number of issued and outstanding shares of Frontline.
The Frontline shares are listed in New York and Oslo, and Frontline has agreed to register the new shares for resale with the US Securities and Exchange Commission and the Norwegian Financial Supervisory Authority, respectively. The new shares will then be freely tradable for Ship Finance, and may be sold or distributed to the Company`s shareholders at a later stage.
Frontline Ltd., a shipping company, through its auxiliaries, owns and operates oil tankers and oil/bulk/ore carriers. The company provides seaborne transportation of crude oil and oil products. Its very large crude carriers (VLCCs) primarily transport crude oil from the Middle East Gulf to the Far East, Northern Europe, the Caribbean, and the Louisiana Offshore Oil Port, in addition to Suezmax tankers trade in the Atlantic Basin, the Middle East, and Southeast Asia.
At the end of Monday’s trade, Himax Technologies, Inc. (ADR) (NASDAQ:HIMX)‘s shares surged 0.56% to $7.13.
Himax Technologies, Inc. (HIMX) a leading supplier and fabless manufacturer of display drivers and other semiconductor products, declares that the Company will attend the Nomura Driver IC Corporate Day, which will be held on June 16, 2015.
Himax Technologies, Inc., a fabless semiconductor company, provides display imaging processing technologies to consumer electronics worldwide. The company operates through Driver IC and Non-Driver Products segments. It offers display driver integrated circuits (ICs) and timing controllers used in televisions (TVs), laptops, monitors, mobile phones, tablets, digital cameras, car navigation, and other consumer electronics devices.
Nordic American Tanker Ltd (NYSE:NAT), ended its Monday’s trading session with 3.54% gain, and closed at $13.60.
Nordic American Tankers Limited (NAT) is a tanker company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on NAT’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Nordic American Tankers could be a solid choice for investors.
Nordic American Tankers Limited, a tanker company, engages in acquiring and chartering double-hull tankers. As of December 31, 2014, it owned 24 Suezmax crude oil tankers, counting two new buildings under construction. The company was founded in 1995 and is based in Hamilton, Bermuda.
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