On Monday, Shares of Cobalt International Energy, Inc. (NYSE:CIE), gained 10.22% to $7.98.
The Angolan National Concessionaire Sociedade Nacional de Combustíveis de Angola – Empresa Pública and Cobalt International Energy, declared the signing of a Sale and Purchase Agreement for Sonangol to acquire all of Cobalt’s 40% participating interest in Blocks 21/09 and 20/11 offshore Angola for $1.75 billion with an effective date of January 1, 2015. This transaction is subject to customary Angolan government approvals, which are predictable preceding to the end of the year.
The Sale and Purchase Agreement provides for a smooth transition to a new operator and underscores the parties’ commitment to attain the final investment decision for the Cameia development in Block 21/09 by year-end 2015 in order to deliver first oil from Cameia in 2018. Notwithstanding Cobalt’s ongoing as operator for an interim period, all costs going forward will be borne by Sonangol.
Cobalt International Energy, Inc., through its auxiliaries, engages in the exploration and production of oil-focused, below-salt exploration prospects. Its project portfolio comprises North Platte, Heidelberg, Shenandoah, and Anchor discovery in the U.S. Gulf of Mexico; Cameia, Lontra, Mavinga, Bicuar, and Orca in the offshore Angola; and Diaman in the offshore Gabon.
Shares of Precision Castparts Corp. (NYSE:PCP), declined -0.86% to $228.81, during its last trading session.
Precision Castparts Corp., has declared a quarterly cash dividend of $0.03 per share on the company’s common stock payable on September 28, 2015, to shareholders of record at the close of business on September 4, 2015.
Precision Castparts Corp. manufactures and sells metal components and products to the aerospace, power, and general industrial and other markets worldwide. The company operates through three segments: Investment Cast Products, Forged Products, and Airframe Products.
At the end of Monday’s trade, Shares of Two Harbors Investment Corp (NYSE:TWO), lost -3.05% to $9.36.
Two Harbors Investment Corp., declared its financial results for the quarter ended June 30, 2015.
Highlights
- Book value was $10.81 per common share, representing a (0.1)% total return on book value after accounting for a dividend of $0.26 per share, bringing the total return on book value for the first half of 2015 to 2.1%.
- Delivered Comprehensive Income of $2.7 million, a return on average equity of 0.3%, or $0.01 per weighted average common share.
- Stated Core Earnings of $80.2 million, or $0.22 per weighted average common share.
- Generated an aggregate portfolio yield of 4.16% and a net interest margin of 2.79% for the quarter ended June 30, 2015.
- Accomplished two securitizations, issuing securities backed by about $493.3 million unpaid principal balance (UPB) of prime jumbo residential mortgage loans.
Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), residential mortgage loans, mortgage servicing rights, commercial real estate debt and related assets, and other financial assets.
Finally, Arch Coal Inc (NYSE:ACI), ended its last trade with 3.64% gain, and closed at $3.99.
Arch Coal, issued the following statement in response to the U.S. Environmental Protection Agency’s final “Clean Power Plan” rule.
“Even preceding to the expensive overhaul declared recently, seven governors had stated that they did not plan to comply. That number seems certain to grow as other governors realize that, rather than fix the rule, EPA has in many ways made matters worse.”
Formerly, NERA Economic Consulting stated that the projected rule would cost as much as $479 billion, and that it would drive up electricity rates by double digits in 43 states. If anything, the overhauled rule threatens to push costs and power prices even higher.
Arch Coal believes that premature and costly regulations are not the answer to addressing climate concerns. Instead, Arch urges the Administration to ramp up dramatically its investments in low-carbon fossil fuel technologies, which presently total just a small fraction of overall government spending on energy.
Arch Coal, Inc. produces and sells thermal and metallurgical coal from surface and underground mines located in the United States. As of December 31, 2014, it operated or contracted out the operation of 16 mines; and owned or controlled about 5.1 billion tons of proven and probable recoverable reserves.
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