On Tuesday, Warren Resources, Inc. (NASDAQ:WRES)’s shares inclined 5.38% to $0.390.
Warren Resources, Inc. (WRES) will report second quarter 2015 financial results on Tuesday, August 4, 2015 by issuing a press release before the market opens and conducting a conference call on that date at 11:00 a.m. Eastern Time. The full text of the release will be accessible at warrenresources.com under “For Investors — News & Events”.
Warren Resources, Inc., an independent energy company, engages in the exploration, development, and production of domestic onshore crude oil and gas reserves. The company primarily focuses on the exploration and development of waterflood oil recovery projects in the Wilmington field within the Los Angeles Basin of California; Marcellus Shale project in northeastern Pennsylvania; and coalbed methane natural gas properties located in the Rocky Mountain region.
Deutsche Bank AG (USA) (NYSE:DB)’s shares dropped -0.04% to $33.40.
Deutsche Bank declared it has hired Bryan North-Clauss as Managing Director and Head of US Rates Sales. He will be based in New York and report to Chris Yoshida, Global Head of Rates Sales. North-Clauss will join the Bank in September.
North-Clauss will join the Bank from Morgan Stanley where he spent over five years, in both New York and London, most recently responsible for building and managing the hedge fund and international real money coverage teams. He was formerly responsible for building and leading Morgan Stanley’s Government Sponsored Enterprises (GSE) coverage team in New York. Before joining Morgan Stanley, he held rates sales roles at Citibank and Lehman Brothers.
Deutsche Bank AG provides investment, financial, and related products and services worldwide. Its Corporate Banking & Securities division engages in selling, trading, and structuring a range of fixed income, equity, equity-linked, foreign exchange, and commodities products. This division also provides mergers and acquisitions, equity and debt financing, and general corporate finance advice, in addition to various financial services to public sector.
At the end of Tuesday’s trade, ITC Holdings Corp. (NYSE:ITC)‘s shares dipped -0.55% to $33.69.
ITC Lake Erie Connector LLC, a wholly-owned partner of ITC Holdings Corp., (ITC) the largest independent electricity transmission company in the United States, recently commenced an open solicitation for interest in transmission capacity on the ITC Lake Erie Connector line. Startning recently and through August 21, ITC intends to solicit expressions of interest from qualified parties for firm transmission rights at negotiated rates.
The ITC Lake Erie Connector is a projected 1000 MW, bi-directional, High-Voltage Direct Current (HVDC) merchant transmission line that will provide the first direct link between the markets of the Ontario Independent Electricity System Operator (IESO) and PJM Interconnection, LLC (PJM). The ITC Lake Erie Connector will enable transmission customers to more efficiently access energy, capacity and renewable energy credit opportunities in both markets.
ITC Holdings Corp., together with its auxiliaries, engages in the transmission of electricity in the United States. The company functions as conduit, allowing for power from generators to be transmitted to local distribution systems through its own systems or in conjunction with neighboring transmission systems. It owns and operates high-voltage transmission facilities in Michigan’s Lower Peninsula and portions of Iowa, Minnesota, Illinois, Missouri, Kansas, and Oklahoma. The company serves investor-owned utilities, municipalities, cooperatives, power marketers, and alternative energy suppliers.
Stone Energy Corporation (NYSE:SGY), ended its Tuesday’s trading session with 5.12% gain, and closed at $9.43.
Stone Energy Corporation (SGY) provided a drilling and production update. In the Gulf of Mexico deepwater, operations at the Cardona #6 development well, located in Mississippi Canyon block 29, have been proceeding ahead of schedule and below budget, and drilling has been completed through the targeted zones. The well encountered approximately 288 feet of net pay in two intervals, similar to the Cardona #5 net pay of 275 feet. Analysis of logging and pressure data confirmed the existence of oil in the pay zones. The well has been successfully cased and cemented across all productive zones, the subsea tree has been installed and completion operations have begun. The well will be tied into our existing Cardona subsea infrastructure, which flows into Stone’s Pompano platform. It is expected that gross production from Cardona #6 will reach approximately 5,000 Boe per day (65% working interest) from the lower completion by late September. The upper completion is expected to have a similar production rate and will be accessed in the future by hydraulically shifting sleeves between the upper and lower completions.
Upon completion of the Cardona #6 well, the ENSCO 8503 deepwater drilling rig will be released for about 60 days to receive planned maintenance and to be outfitted with mooring capabilities. The rig will then be mobilized to Mississippi Canyon block 26 to finish the completion of the Amethyst discovery (100% working interest). Amethyst will also be tied back to the Pompano platform, where first production is predictable early in the first quarter of 2016. Following the Amethyst completion, the rig is presently projected to drill the Cardona #7 development well and the Lamprey deep water exploration prospect.
Stone Energy Corporation, an independent oil and natural gas company, engages in the acquisition, exploration, exploitation, development, and operation of oil and gas properties in the Gulf of Mexico and the Appalachia region. As of December 31, 2014, it had estimated proved oil and natural gas reserves of about 915 billion cubic feet of gas equivalent. The company was founded in 1993 and is headquartered in Lafayette, Louisiana.
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