On Tuesday, Encana Corporation (NYSE:ECA)’s shares surged 3.20% to $11.92, as on April 1, ECA and the Cutbank Ridge Partnership, a partnership between Encana and a partner of Mitsubishi Corporation, have accomplished the formerly declared sale of certain natural gas gathering and compression assets supporting development in the Montney area of northeastern British Columbia to Veresen Midstream Limited Partnership, a 50/50 limited partnership of Veresen Inc. and associates of Kohlberg Kravis Roberts & Co. L.P. (“KKR”). Total cash consideration to Encana is about C$461 million.
Under the terms of the contract, Veresen Midstream will provide gathering and compression services to each of Encana and the CRP under separate fee-for-service arrangements in a dedicated area of mutual interest within the Montney resource play. Veresen Midstream has agreed to undertake up to C$5 billion of new midstream expansion to support development within the area of dedication. Encana will continue to operate the related facilities and lead future infrastructure construction on behalf of Veresen Midstream, which will oversee all commercial and other ownership activities.
Encana Corporation, together with its auxiliaries, engages in the development, exploration, production, and marketing of natural gas, oil, and natural gas liquids in Canada and the United States.
LPL Financial Holdings Inc. (NASDAQ:LPLA)’s shares gained 3.17% to $41.99, during the last trading session on Tuesday, as LPLA parent company of independent broker-dealer LPL Financial LLC, declared it will report its first quarter 2015 financial results before the market opens on Thursday, Apr. 30, 2015. The Company will also hold a conference call to talk about results at 8 a.m. EDT that day. The conference call can be accessed by dialing 877-677-9122 (domestic) or 708-290-1401 (international) and entering passcode 6500802.
LPL Financial Holdings Inc., together with its auxiliaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions in the United States.
At the end of Tuesday’s trade, Memorial Resource Development Corp. (NASDAQ:MRD)’s shares gained 2.98% to $18.68, after MRD declared that its Board of Directors has authorized the repurchase of up to $50 million of MRD’s ordinary stock. In addition, MRD’s bank group has re-affirmed the borrowing base under MRD’s senior secured revolving credit facility at $725.0 million, based upon oil and gas reserves as of December 31, 2014. The next regular semi-annual redetermination of the borrowing base is planned for October 1, 2015.
Under the share repurchase program’s terms, shares may be repurchased from time to time at MRD’s discretion on the open market, through block trades or otherwise and are subject to market conditions, in addition to corporate, regulatory and other considerations. The authorization is effective right away.
Memorial Resource Development Corp., an independent natural gas and oil company, focuses on the attainment, exploitation, and development of natural gas, natural gas liquids, and oil properties primarily in North Louisiana.
Finally, IAMGOLD Corp. (NYSE:IAG), ended its Tuesday’s trading session with 2.97% gain, and closed at $2.08, as IAG will release its first quarter 2015 financial results after market hours on Tuesday, May 5th, 2015.
A conference call will be held on Wednesday, May 6 th at 8:30 a.m. (Eastern Daylight Time) for a discussion with administration regarding the Company’s operating performance and financial results for the first quarter of 2015.
IAMGOLD Corporation primarily engages in the exploration, development, and operation of gold mining properties. It also explores for silver and copper deposits. The company holds interests in four operating gold mines, in addition to exploration and development projects located in Africa, South America, and Canada. IAMGOLD Corporation was incorporated in 1990 and is headquartered in Toronto, Canada.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
