On Monday, Memorial Production Partners LP (NASDAQ:MEMP)’s shares inclined 6.66% to $7.69.
Memorial Production Partners LP (MEMP) declared its operating and financial results for the three and six months ended June 30, 2015. In addition, MEMP offered an update of its commodity hedge positions presented in the Hedge Summary table below together with updated 2015 guidance.
Key Highlights
- Average daily production raised 10% to 247.8 MMcfe for the second quarter 2015, contrast to 224.8 MMcfe for the second quarter 2014.
- Revolver availability of about $642 million as of July 31, 2015.
- Strong commodity hedge portfolio with 85% of current predictable total production hedged in 2015, 84% in 2016, 70% in 2017, 64% in 2018 and 49% in 2019.
- Mark-to-market hedge book value of about $609 million as of July 31, 2015. All of MEMP’s current hedges are costless, fixed price swaps and collars.
Memorial Production Partners LP, through its partner, engages in the acquisition, development, exploitation, and production of oil and natural gas properties. Its properties comprise of operated and non-operated working interests in producing and undeveloped leasehold acreage, and working interests in identified producing wells located in Texas, Louisiana, Colorado, Wyoming, New Mexico, and offshore Southern California. As of December 31, 2014, its total estimated proved reserves were about 1,454 billion cubic feet of natural gas equivalent. Memorial Production Partners GP LLC serves as the general partner of Memorial Production Partners LP.
Navient Corp (NASDAQ:NAVI)’s shares dropped -1.84% to $12.79.
Several teams will play softball for 24 successive hours this Labor Day weekend to assist raise money for local charities.
The Navient Foundation awarded a $2,500 grant to M.O.T. Community Fund, Inc., a local nonprofit serving the Middletown, Odessa and Townsend area. Navient Foundation is the philanthropic organization sponsored by Delaware-based employer Navient.
The grant will support the 18th annual M.O.T. Big Ball Marathon, a continuous 24-hour softball game event that assists raise money to assist individuals, families in need, charities and other organizations in the area. It has raised more than half a million dollars over the years for the expansion of the M.O.T. Senior Center, supplies to local schools, donations to local shelters and much more. The aim is to raise $60,000 this year.
Navient Corporation provides financial products and services in the United States. The company operates in four segments: FFELP Loans, Private Education Loans, Business Services, and Other. It provides federal family education loan program (FFELP) loans and servicing for FFELP loan portfolio; and servicing and asset recovery services for loans on behalf of guarantors of FFELP loans, guaranty agencies, higher education institutions, the United States Department of Education, and other federal clients, in addition to states, courts, and municipalities.
At the end of Monday’s trade, WhiteWave Foods Co (NYSE:WWAV)‘s shares dipped -1.43% to $46.14.
The WhiteWave Foods Company ( WWAV ) stated record results for the second quarter ended June 30, 2015.
Net sales for second quarter 2015 were $924 million, a 10 percent enhance from net sales of $838 million in second quarter 2014. These results were driven by strong growth across the Americas Foods & Beverages and Europe Foods & Beverages segments and a benefit from the inclusion of So Delicious Dairy Free ® that was attained in fourth quarter 2014. On a constant currency basis, net sales raised 14 percent in second quarter 2015 over the same period in 2014. Not taking into account acquisitions, organic constant currency net sales raised 9 percent in second quarter 2015 over the same period in 2014.
Adjusted operating income for second quarter 2015 raised 20 percent to $85 million, contrast to $71 million in second quarter 2014. On a constant currency basis, adjusted operating income raised 24 percent in second quarter 2015 over the same period in 2014.
The WhiteWave Foods Company, a consumer packaged food and beverage company, manufactures, markets, distributes, and sells branded plant-based foods and beverages, salads, fruits and vegetables, coffee creamers and beverages, and dairy products and organic produce in North America and Europe. It operates in three segments: Americas Foods & Beverages, Americas Fresh Foods, and Europe Foods & Beverages.
Chemours Co (NYSE:CC), ended its Monday’s trading session with -0.36% loss, and closed at $9.67.
The Chemours Company (CC), a global chemical company with leading market positions in titanium technologies, fluoroproducts and chemical solutions, declared financial results for the second quarter 2015. Chemours was a wholly-owned partner of DuPont during the period, and these results reflect a stand-alone basis of presentation.
Second quarter net sales were $1.5 billion, a decrease of 10 percent from $1.7 billion in the preceding-year quarter. Second quarter net loss was $18 million, or a pro forma net loss of $0.10 per diluted share, as compared to net income of $116 million in the second quarter 2014. Adjusted EBITDA was $127 million as compared to $235 million in the preceding year quarter. Profitability was reduced as a result of 11 percent lower-global- average local TiO2 prices, about $48 million from unfavorable currency movements and about $15 million from planned and unplanned plant outages. Lower year-over-year corporate and other operating costs partially offset these impacts.
The Chemours Company, a chemical company, provides titanium technologies, fluoroproducts, and chemical solutions. Its flagship products comprise brands, such as Teflon, Ti-Pure, Krytox Viton, Opteon, and Nafion. The company produces titanium dioxide, with Ti-Pure for coatings, plastics, laminates, and paper; and fluoroproducts, counting Teflon fluoropolymers, Krytox performance lubricants, Viton fluoroelastomers, and Opteon refrigerants.
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