On Wednesday, Shares of Enerplus Corp (USA) (NYSE:ERF), lost -7.95% to $5.67.
Enerplus Corporation, declared the results from operations for the second quarter of 2015.
HIGHLIGHTS:
- Through the second quarter of 2015, Enerplus delivered production growth, improved cost performance, and maintained a strong financial position.
- Production volumes grew by 7% quarter over quarter to 107,429 BOE per day. This growth was primarily driven by raised activity in North Dakota, where production averaged about 27,100 BOE per day, up over 25% from the first quarter of 2015. We also saw growth from our gas portfolio with our Canadian Deep Basin and Marcellus assets showing production enhances over the first quarter of 2015. Our production mix was essentially unchanged from the previous quarter, with crude oil and natural gas liquids accounting for 43% of production.
- Because of continued operational outperformance, we are increasing our average annual production guidance range to 100,000 – 104,000 BOE per day from 97,000 – 103,000 BOE per day. We expect about 44,000 – 46,000 barrels per day of crude oil and natural gas liquids. This guidance takes into account year to date divestments of about 1,900 BOE per day.
- We spent $148 million in our core areas during the quarter, and are on track to meet our annual capital spending guidance of $540 million, despite the weak Canadian dollar. About 75% of spending in the quarter was directed to our North Dakota properties. In total we drilled 7.8 net wells and brought 22 net wells on-stream across our portfolio in the second quarter.
- Both operating costs and G&A expenses for the quarter came in lower than forecast, at $7.85 per BOE and $2.03 per BOE, respectively. Based on our cost savings realized to date and our raised production target, we are decreasing our annual operating cost guidance to $9.25 per BOE from $9.75 per BOE and our G&A expense guidance to $2.25 per BOE from $2.40 per BOE, representing a combined decrease of $0.65 per BOE.
- Funds flow raised by 47% to $160 million from the first quarter primarily due to higher production, lower costs, and improved crude oil prices, and despite slightly weaker gas pricing.
Enerplus Corporation, together with auxiliaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. The company primarily has interests in about 162,000 net acres of lands comprising about 77,000 net acres targeting the Stacked Mannville zones and 85,000 net acres targeting the Duvernay formation in the Deep Basin region, Canada.
Shares of Tegna Inc (NYSE:TGNA), declined -1.54% to $24.99, during its last trading session.
TEGNA Media was the recipient of eight 2015 Salute to Excellence Awards from the National Association of Black Journalists (NABJ). The awards, according to NABJ, recognize “journalism that best covered the black experience or addressed issues affecting the worldwide black community” during the past year. TEGNA Media stations received eight of the 16 Salute to Excellence Awards given to local television stations, more than any other station group.
“It is an honor to be recognized by NABJ with these awards. TEGNA Media is committed to empowering the people we serve and these awards highlight the creative, unique and moving storytelling that is making a difference in our local communities. Congratulations to all of our winners,” said Dave Lougee, president, TEGNA Media.
TEGNA Media’s KUSA in Denver, CO received three awards. WXIA in Atlanta, GA and KSDK in St. Louis, MO were honored with two awards each and WFAA in Dallas, TX received one award.
TEGNA Inc. engages in media and digital businesses in the United States. The company operates 46 television stations that produce local programming, such as news, sports, and entertainment; and associated online sites.
At the end of Wednesday’s trade, Shares of Plains All American Pipeline, L.P. (NYSE:PAA), lost -2.59% to $34.20.
Plains All American Pipeline declared that it has commenced a public offering of senior notes (the “Notes”). The Partnership intends to use the net proceeds from this offering to repay outstanding borrowings under its commercial paper program and for general partnership purposes. Amounts repaid under the Partnership’s commercial paper program may be reborrowed, as necessary, to fund its ongoing expansion capital program or future acquisitions and investments, or for general partnership purposes.
Citigroup Global Markets Inc.; Mizuho Securities USA Inc.; Mitsubishi UFJ Securities (USA), Inc. and UBS Securities LLC will act as joint book-running managers of the offering.
Plains All American Pipeline, L.P., through with its auxiliaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), natural gas, and refined products in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.
Finally, United Parcel Service, Inc. (NYSE:UPS), ended its last trade with -0.44% loss, and closed at $102.31.
UPS, Official Logistics, and Shipping Sponsor of Ferrari, made a special delivery to Scuderia Ferrari driver Sebastian Vettel from a unique UPS Access Point location set-up, one time only, near the Cologne /Bonn Airport ahead of the Belgian Grand Prix weekend to underscore the flexibility of this international shipping solution.
The two-time winner of the Belgian Grand Prix, discussed the importance of flexible, adaptable services in an increasingly busy world, before collecting his special delivery: keys to a Ferrari 458 road car.
The four-time world champion and winner of the last Grand Prix in Hungary then treated spectators to a driving exhibition and took along a number of lucky passengers for a few “hot laps” on a memorable ride-along, delivered by UPS, to celebrate Ferrari’s partnership with the organization, which is now in its third year.
United Parcel Service, Inc., a package delivery company, provides transportation, logistics, and financial services in the United States and internationally. It operates in three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight.
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