On Friday, Triangle Petroleum Corporation (NYSEMKT:TPLM)’s shares declined -4.15% to $5.77.
On April 13, Triangle Petroleum Corporation, provides an operational update and reports its fourth quarter fiscal year 2015 (“Q4 2015″) and full fiscal year 2015 (“FY 2015″) results for the period ended January 31, 2015.
Highlights for Fiscal Year 2015
- Raised volumes in FY 2015 to 4,176 Mboe (+116% y/y) as contrast to 1,929 Mboe in fiscal year 2014 (“FY 2014″). Average daily production raised to 11,441 Boepd in FY 2015, or 2% above the high end of our FY 2015 guidance range of 10,200-11,200 Boepd, from 5,286 Boepd in FY 2014
- Total capital expenditures amounted to about $671.9 million, in line with full year budget guidance
- Raised merged adjusted net income in FY 2015 to $54.1 million, or $0.58 per fully diluted EPS (+21% y/y), as contrast to $37.4 million, or $0.48 per fully diluted EPS in FY 2014
- Raised total estimated net proved reserves to 58,870 Mboe (61% proved developed) at fiscal year-end 2015, a 46% raise over fiscal year-end 2014 total estimated net proved reserves, with an associated raise in SEC PV-10 to about $983 million (+45% y/y)
- Repurchased and stepped down $20.5 million face value of Triangle USA Petroleum Corporation (“TUSA”) outstanding 6.75% bonds for just under $13.9 million
- Repurchased 6.5 million shares of common stock at an average price of $4.94 per share in Q4 2015, bringing cumulative repurchases during FY 2015 to about 11.4 million shares at an average price of $6.72 per share leaving a total of about 75.2 million shares outstanding at January 31, 2015
- $428.7 million of total liquidity as of January 31, 2015, counting $67.9 million of cash on hand and accessible borrowing capacity on TUSA and RockPile Energy Services (“RockPile”) credit facilities
Triangle Petroleum Corporation is engaged in the acquisition, exploration, development, and production of unconventional shale oil and natural gas resources in the Bakken Shale and Three Forks formations in the Williston Basin of North Dakota and Montana. As of January 31, 2014, the company held leasehold interests in about 94,000 net acres in McKenzie and Williams Counties of North Dakota, and Sheridan and Roosevelt Counties of Montana.
Akebia Therapeutics Inc (NASDAQ:AKBA)’s shares dropped -4.15% to $8.31, during the last trading session on Friday, hitting its lowest level.
On April 16, Akebia Therapeutics Inc. declared the pricing of an underwritten public offering of 7,272,727 shares of common stock at a price to the public of $8.25 per share. The net proceeds of the offering are predictable to be about $56.1 million, after deducting underwriting discounts and commissions and other estimated offering expenses payable by Akebia. The offering is predictable to close on April 22, 2015, subject to the satisfaction of customary closing conditions.
UBS Investment Bank and Morgan Stanley are acting as joint book-running managers of the offering. JMP Securities is acting as lead manager, and Needham & Company and Brean Capital are acting as co-managers. Akebia has granted the underwriters a 30-day option to purchase up to an additional 1,090,909 shares of common stock in connection with the offering.
Akebia Therapeutics, Inc., a biopharmaceutical company, focuses on the development and commercialization of proprietary therapeutics based on hypoxia inducible factor (HIF) biology for patients with kidney disease.
At the end of Friday’s trade, Swift Energy Company (NYSE:SFY)‘s shares dipped -4.14% to $3.01.
On April 14, , Swift Energy Company’s President and CEO, Terry Swift, will give Swift Energy’s corporate presentation Monday, April 20, 2015, at 2:00 p.m. EDT to the investment community via live audio webcast at the IPAA Oil & Gas Investment Symposium (OGIS) Conference in New York.
Swift Energy Company, an independent oil and gas company, attains, explores, develops, and operates oil and gas properties. The company focuses on the Eagle Ford trend of South Texas, in addition to the onshore and inland waters of Louisiana. As of December 31, 2014, it had estimated proved reserves of 193.8 million barrels of oil equivalent. Swift Energy Company was founded in 1979 and is headquartered in Houston, Texas.
Alpha Natural Resources, Inc (NYSE:ANR), ended its Friday’s trading session with -4.11% loss, and closed at $0.988.
On Aril 17, Alpha Natural Resources, declared that the Company has been notified by the New York Stock Exchange (the “NYSE”) that its common stock does not presently satisfy one of the NYSE’s standards for continued listing and trading on the exchange. The NYSE requires that the average closing price of a listed company’s common stock be at least $1.00 per share over any period of 30 successive trading days. As of April 13, 2015, the average closing price per share of the Company’s common stock over the preceding 30 trading-day period was $0.99.
In response, as required by the NYSE’s rules, the Company plans to notify the NYSE of its intent to cure the deficiency and restore its compliance, and it will submit a plan outlining the actions it intends to take to do so. Under the NYSE’s rules, the Company has six months to regain compliance with the listing standards. The Company’s common stock will continue to be listed and traded on the NYSE during this period, subject to the Company’s compliance with other continued listing standards.
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.
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