On Wednesday, Patterson-UTI Energy, Inc. (NASDAQ:PTEN)’s shares declined -0.001% to $20.77.
Patterson-UTI Energy, Inc. (PTEN) stated that for the month of May 2015, the Company had an average of 122 drilling rigs operating in the United States and one rig in Canada. For the two months ended May 31, 2015, the Company had an average of 126 drilling rigs operating in the United States and two rigs in Canada.
Average drilling rigs operating stated in the Company’s monthly declarements represent the average number of the Company’s drilling rigs that were operating under a drilling contract. The Company cautioned that numerous factors in addition to average drilling rigs operating can impact the Company’s operating results and that a particular trend in the number of drilling rigs operating may or may not indicate a trend in or be indicative of the Company’s financial performance. The Company intends to continue providing monthly updates on drilling rigs operating shortly after the end of each month.
Patterson-UTI Energy, Inc., through its auxiliaries, provides onshore contract drilling services to major and independent oil and natural gas operators in the United States and Canada. The company operates through three segments: Contract Drilling, Pressure Pumping, and Oil and Natural Gas. The Contract Drilling segment markets its contract drilling services primarily in Texas, New Mexico, Louisiana, Oklahoma, Colorado, Utah, Wyoming, Montana, North Dakota, Pennsylvania, Ohio, West Virginia, and western and northern Canada.
DryShips Inc. (NASDAQ:DRYS)’s shares dropped -3.57% to $0.727.
DryShips Inc. (DRYS) declared recently that Ocean Rig priced the offering of 28,571,428 shares of its common stock, par value $0.01 per share, at a price of $7.00 per share. The offering is predictable to close on June 8, 2015. As part of the offering, George Economou, Ocean Rig’s Chairman, President and Chief Executive Officer, is purchasing $10 million, or 1,428,571 shares, of common stock in the offering at the public offering price, a number of common shares that maintains his direct ownership in Ocean Rig, representing about five percent of its common stock.
Clarksons Platou Securities, Inc., Pareto Securities Inc. and Seaport Global Securities LLC are acting as joint lead managers, joint bookrunners and placement agents in the offering. Clarksons Platou Securities AS and Pareto Securities AS are acting as placement agents. Clarksons Platou Securities AS and Pareto Securities AS are not U.S. registered broker-dealers and to the extent that this offering is made within the United States, their activities will be effected only to the extent permitted by Rule 15a-6 of the Securities Exchange Act of 1934, as amended. Ocean Rig intends to use the net proceeds from the offering for working capital and general corporate purposes, counting the acquisition of drilling rigs.
DryShips Inc. provides ocean transportation services for drybulk and petroleum cargoes, and offshore deepwater drilling services. The company operates through Drybulk, Tanker, and Drilling segments. The Drybulk segment provides drybulk commodities transportation services for the steel, electric utility, construction, and agri-food industries. The Drilling segment offers ultra deep water drilling services.
At the end of Wednesday’s trade, Wynn Resorts, Limited (NASDAQ:WYNN)‘s shares surged 1.99% to $102.05.
Wynn Resorts, Limited (WYNN) stated financial results for the first quarter ended March 31, 2015.
Net revenues for the first quarter of 2015 were $1,092.2 million, contrast to $1,513.6 million in the first quarter of 2014. The decline was the result of a 37.7% net revenue decrease from our Macau Operations, partially offset by a 1.6% enhance in net revenues from our Las Vegas Operations. Adjusted property EBITDA (1) was $323.0 million for the first quarter of 2015, a 34.7% decrease from $494.6 million in the first quarter of 2014.
On a US GAAP basis, net loss attributable to Wynn Resorts, Limited for the first quarter of 2015 was $44.6 million, or $0.44 per diluted share, contrast to net income attributable to Wynn Resorts, Limited of $226.9 million, or $2.22 per diluted share, in the first quarter of 2014.
Adjusted net income attributable to Wynn Resorts, Limited (2) in the first quarter of 2015 was $70.5 million, or $0.70 per diluted share (adjusted EPS), contrast to an adjusted net income attributable to Wynn Resorts, Limited of $236.7 million, or $2.32 per diluted share, in the first quarter of 2014.
Wynn Resorts, Limited, together with its auxiliaries, develops, owns, and operates destination casino resorts. It operates in two segments, Macau Operations and Las Vegas Operations. The company operates Wynn Macau and Encore at Wynn Macau resort located in the People’s Republic of China.
Prologis Inc (NYSE:PLD), ended its Wednesday’s trading session with -0.55% loss, and closed at $39.95.
Prologis Inc (PLD) declared it has accomplished its acquisition of the real estate assets and operating platform of KTR Capital Partners (KTR) and its associates for a total purchase price of $5.9 billion.
The properties were attained by Prologis U.S. Logistics Venture (USLV), a 55-45 merged joint venture with Norges Bank Investment Administration (NBIM), manager of the Norwegian Government Pension Fund Global. The real estate assets comprise an about 60 million square foot operating portfolio, 3.6 million square feet of development-in-progress and a land bank with a build-out potential of 6.7 million square feet.
Moghadam added, “The transaction is right away accretive and will also deliver long-term value to our shareholders through incremental NOI from the lease-up of the operating and development portfolios.”
Prologis’ share of the accomplished acquisition was valued at about $3.2 billion, comprising of the assumption of about $400 million in secured mortgage debt, the issuance of $202 million in common limited partnership units in Prologis, L.P. and $2.6 billion in cash. The cash portion was funded through the company’s formerly declared financing transactions, with the remainder from its global line of credit and the monetization of hedges.
Prologis anticipates to repay its two-year term loan and line of credit through the combination of asset and joint venture sales. The two-year term loan replaced the commitments to fund the formerly declared bridge loan.
Prologis Inc. is an independent equity real estate investment trust. It invests in the real estate markets across the globe. The firm engages in the ownership, development, administration, and leasing of industrial distribution and retail properties. It was formerly known as Security Capital Investment Trust. Prologis Inc. was formed in 1991 and is based in San Francisco, California with an additional office in Denver, Colorado.
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