On Wednesday, Shares of Whiting Petroleum Corp. (NYSE:WLL), surged 7.02% to $23.18.
Whiting Petroleum Corporation production in the second quarter 2015 totaled 15.5 million barrels of oil equivalent (MMBOE), 89% crude oil/natural gas liquids (NGLs). Second quarter 2015 production averaged 170,245 barrels of oil equivalent per day (BOE/d). This represents a 2% enhance over the first quarter 2015 despite non-core property sales of 8,300 BOE/d.
James J. Volker, Whiting’s Chairman, President and CEO, commented, “Net of the sale of 8,300 BOE/d of production in the first half of 2015 from non-core assets, we project full-year 2015 production of 59.5 MMBOE or 6.5% growth over 2014. We plan to run eight rigs in the second half of 2015 as compared to our original plan for 11 rigs and have established a new 2015 capital budget of $2.15 billion as compared to our previous estimate of $2.3 billion.”
Mr. Volker continued, “Our financial position remains strong. Year-to-date, we have sold $300 million of assets, which more than funds the enhance in our capital budget. We ended the second quarter with $60 million in cash and nothing drawn on our $4.5 billion borrowing base. In addition, we anticipate further non-core asset sales by year end.
Whiting Petroleum Corporation, an independent oil and gas company, acquires, explores, develops, and produces crude oil, natural gas liquids, and natural gas in the Rocky Mountains and Permian Basin regions of the United States. It sells oil and gas to end users, marketers, and other purchasers.
Shares of Anadarko Petroleum Corporation (NYSE:APC), inclined 4.71% to $76.28, during its last trading session.
Anadarko Petroleum Corporation declared its financial and operating results for the second quarter of 2015, counting net income attributable to common stockholders of $61 million, or $0.12 per share (diluted). These results comprise certain items typically excluded by the investment community in published estimates, which in the aggregate raised net income by $57 million or $0.11 per share (diluted).(1) Net cash flow from operating activities in the second quarter of 2015 was $1.243 billion, and discretionary cash flow from operations totaled $1.373 billion.
HIGHLIGHTS
- Raised year-over-year oil sales volumes by 42,000 barrels per day, adjusted for divestitures.
- Achieved large-scale project milestones in the Gulf of Mexico and Mozambique
- Declared deepwater exploration success in a frontier basin offshore Colombia
- Declared more than $1.7 billion of monetizations year to date.
Anadarko Petroleum Corporation engages in the exploration, development, production, and marketing of oil and gas properties. It operates through three segments: Oil and Gas Exploration and Production; Midstream; and Marketing.
Finally, Bristol-Myers Squibb Company (NYSE:BMY), ended its last trade with 0.36% gain, and closed at $64.89.
Kyowa Hakko Kirin Co., Ltd. And Bristol-Myers Squibb Company declared that the companies have reached a clinical trial partnership agreement to conduct a Phase 1/2 combination study with mogamulizumab, an anti-CCR4 antibody and Opdivo (nivolumab), a PD-1 immune checkpoint inhibitor. The study, which will be conducted in the U.S., will focus on evaluating the safety, tolerability and anti-tumor activity of combining mogamulizumab and Opdivo as a potential treatment option for patients with advanced or metastatic solid tumors. Preceding to this agreement, Kyowa Hakko Kirin, Bristol-Myers Squibb and Ono Pharmaceutical Co., Ltd. (Tokyo: 4528) reached a clinical trial partnership agreement to study the combination of mogamulizumab and Opdivo in Japan.
Mogamulizumab and Opdivo are part of a new class of cancer treatments known as immunotherapies, which are designed to harness the body’s own immune system in fighting cancer by targeting distinct regulatory components of the immune system.
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It provides chemically-synthesized drugs or small molecules, and biologics in various therapeutic areas, counting virology comprising human immunodeficiency virus infection (HIV); oncology; neuroscience; immunoscience; and cardiovascular.
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