On Wednesday, Shares of Abengoa Yield PLC (NASDAQ:ABY), lost -10.22% to $15.28.
Abengoa Yield, stated revenues of $575.9 million for the nine months ended September 30, 2015, representing a 114% improvement y-o-y and Further Adjusted EBITDA counting unmerged associates of $483.4 million, representing a 114% improvement contrast to the same period of 2014. Cash Available for Distribution for the nine month period reached $141.7 million, with a contribution of $58.6 million in the third quarter.
Our assets continued to show solid performance during this quarter, resulting in Further Adjusted EBITDA counting unmerged associates of $218.6 million, operating cash flow of $157.9 million and Cash Available for Distribution of $58.6 million in the quarter.
Production in our renewable energy assets raised by 184% contrast with the same period of 2014 as a result of the contribution of recently attained assets and successful ramp-up in our youngest assets, reaching more than 2,000 GWh produced in the nine-month period.
Wind assets in Uruguay, representing a small portion of our portfolio, are recovering from the first half of the year of low wind due to excellent performance and higher wind resource. The solar portfolio has performed in line with expectations. In particular, Mojave and Kaxu, the youngest solar assets, are going through the final phase of the ramp-up period. In conventional power, performance continues being excellent, with availability levels above contractual requirements. Finally, our electric transmission lines and water desalination assets continue being above target availability levels as well.
Abengoa Yield plc owns a portfolio of renewable energy, conventional power, and electric transmission line contracted assets in North America, South America, and Europe. The company’s renewable energy assets comprise 2 solar power plants each with a gross capacity of 280 megawatts (MW) in the United States; 1 on-shore wind farm with a gross capacity of 50 MW in Uruguay; and 2 solar power plants each with a gross capacity of 50 MW in Spain.
Shares of Rex Energy Corporation (NASDAQ:REXX), declined -8.00% to $1.61, during its last trading session.
Rex Energy Corporation, declared its third quarter 2015 operational and financial results.
Commenting on the quarter, Tom Stabley, Rex Energy’s President and CEO, said, “We have continued to improve our drilling operations by lowering costs and increasing work efficiencies. The average well cost for a 5,000 foot lateral in Butler is now down to $5.2 million. Our average drilling rate for the last eight wells was 595 feet per day, as contrast to a rate of 402 feet per day for the first nine wells in 2015, an improvement of 48%. With the exceptional performance of our operations team combined with well performance, and the nature of our rock in Butler County, we have been able to improvement our overall reserves profile. Cost containment and operational efficiencies are positioning us to weather the low commodity price environment.”
Third Quarter Financial Results
Operating revenue from ongoing operations for the three and nine months ended September 30, 2015 was $37.6 million and $137.5 million, respectively, which represents a decrease of 49% and 40% from the same periods in 2014, respectively. Commodity revenues, counting settlements from derivatives, were $52.6 million and $176.6 million for the three and nine months ended September 30, 2015, a decrease of 31% and 21% respectively from the comparable periods in 2014. Commodity revenues from oil and natural gas liquids (NGLs), counting settlements from derivatives, represented 48% of total commodity revenues for the three months ended September 30, 2015.
Counting the effects of cash settled basis hedges, the company’s basis differential for its Appalachian Basin assets averaged about ($0.82) off the average Henry Hub price of $2.77 for the three months ended September 30, 2015.
LOE from ongoing operations was $30.6 million, or $1.71 per Mcfe for the quarter. For the nine months ended September 30, 2015, LOE was about $90.3 million, or $1.66 per Mcfe. Cash general and administrative (“G&A”) expenses from ongoing operations, a non-GAAP measure, were $5.5 million for the third quarter of 2015, a 39% decrease on a per unit basis as contrast to the same period in 2014. For the nine months ended September 30, 2015, cash G&A expenses from ongoing operations were $18.7 million, a 43% decrease on per unit basis as contrast to the same period in 2014.
The company incurred a non-cash impairment charge of about $139.8 million during the third quarter of 2015. The reduction in carrying value, which was primarily focused in the company’s Warrior North assets in Carroll County, Ohio and its conventional oil assets in the Illinois Basin, is attributable to the continued depression of current and estimated future commodity prices.
Net loss attributable to common shareholders for the three months ended September 30, 2015 was $97.1 million, or $1.80 per basic share. Net loss attributable to common shareholders for the nine months ended September 30, 2015 was $272.5 million, or $5.07 per basic share. Adjusted net loss, a non-GAAP measure, for the three months ended September 30, 2015 was $13.9 million, or $0.26 per share. Adjusted net loss for the nine months ended September 30, 2015 was $31.7 million, or $0.59 per share.
Rex Energy Corporation operates as an independent oil, natural gas liquid, and natural gas company in the Appalachian and Illinois basins in the United States. The company focuses on the Marcellus Shale, Utica Shale, and Burkett Shale drilling and exploration activities in the Appalachian Basin, in addition to on developmental oil drilling and the implementation of improved oil recovery on its properties in the Illinois Basins.
Finally, Shares of Stage Stores Inc (NYSE:SSI), ended its last trade with 10.54% gain, and closed at $8.18.
Stage Stores, declared that its Board of Directors has declared a quarterly cash dividend of 15 cents per share on the Company’s common stock, payable on December 16, 2015 to shareholders of record at the close of business on December 1, 2015.
Stage Stores, Inc. operates as a specialty department store retailer in small and mid-sized towns and communities in the United States. Its merchandise portfolio comprises moderately priced brand name and private label apparel, accessories, cosmetics, footwear, and home goods.