On Monday, in the course of current trade, Shares of Magnum Hunter Resources Corp (NYSE:MHR), climbed 25.35%, and is now trading at $0.975.
Magnum Hunter Resources Corporation, declared financial and operating results for the three and six months ended June 30, 2015. The Company plans to file its Form 10-Q for the quarter ended June 30, 2015 with the Securities and Exchange Commission later recently, Friday, August 7, 2015. Highlights of the Company’s financial and operating results comprise the following:
- Mid-year proved reserves grew to 801.8 Bcfe, an enhance of 60% from year-end 2014
- Stated production of 126.0 MMcfe/d (21.0 MBoe/d) and pro-forma production(a) of 144.0 MMcfe/d (24.0 MBoe/d) for second quarter 2015; pro-forma production raised 37% over actual stated production for the preceding year comparable quarter
- Second quarter 2015 production mix of 68% natural gas, 17% NGLs and 15% oil
- Average realized natural gas price for second quarter 2015 was $1.67 per Mcf (a $1.06 per Mcf negative differential to the average NYMEX price for the period)
- Recent record throughput volumes on Eureka Hunter Pipeline System of about 700,000 MMBtu/d
- Production costs per Mcfe for second quarter 2015 declined 8.2% to $0.82, contrast to the preceding year comparable quarter
- Recurring general and administrative expenses(b) for second quarter 2015 were $0.39 per Mcfe, a 64% decrease over the preceding year comparable quarter
- Adjusted EBITDAX(b)for second quarter 2015 was $7.5 million
- Net loss of ($0.15) per diluted share stated for second quarter 2015
- Closed on the sale of ~5,210 net leasehold acres in Tyler County, West Virginia, resulting in net cash proceeds of $37.6 million counting post-closing adjustments
- ~201,000 net leasehold acres in two core plays, of which ~76,000 net acres located in the Marcellus Shale and ~125,000 net acres located in the Utica Shale
Magnum Hunter Resources Corporation, an independent oil and gas company, explores for, exploits, acquires, develops, and produces crude oil, natural gas, and natural gas liquid resources in the United States.
During an Afternoon trade, Shares of Eastman Chemical Company (NYSE:EMN), climbed 1.85%, and is now trading at $78.09.
Eastman Chemical Company, has declared a quarterly cash dividend of $0.40 per share on the company`s common stock.
The dividend is payable Oct. 1, 2015, to stockholders of record as of Sept. 14, 2015.
Eastman is a global specialty chemical company that produces a broad range of products found in items people use every day. With a portfolio of specialty businesses, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. Its market-driven approaches take advantage of world-class technology platforms and leading positions in attractive end-markets such as transportation, building and construction, and consumables. Eastman focuses on creating compriseent, superior value for all stakeholders. As a globally diverse company, Eastman serves customers in about 100 countries and had 2014 revenues of about $9.5 billion. The company is headquartered in Kingsport, Tennessee, USA and employs about 15,000 people around the world.
Eastman Chemical Company, a specialty chemical company, manufactures and sells materials, chemicals, and fibers in the United States and internationally. The company’s Additives & Functional Products segment offers solvents, such as specialty coalescents and ketones and esters, glycol ethers, and alcohol solvents; cellulose and polyester-based specialty polymers, and paint additives; insoluble sulfur products; antidegradants; hydrocarbon resins; specialty intermediates, performance products, and formic acid; and alkylamine derivatives.
Finally, Capnia Inc (NASDAQ:CAPN), lost -6.76% Monday.
Capnia, declared it has reached a common stock purchase agreement with Aspire Capital Fund, LLC (“Aspire Capital”). Under the new agreement, Capnia has the right to sell up to $10 million in value of its common stock to Aspire Capital, subject to certain terms and conditions, over a two-year period. The agreement represents a planned tool that provides Capnia with important capital to fund the development of its therapeutics pipeline.
“Our promising therapeutics pipeline is a renewed focus at Capnia and we have recently made noteworthyadvances with these programs, in particular with cluster headache where we recently entered the clinic,” said Anish Bhatnagar, M.D., Chief Executive Officer of Capnia. “This financing with Aspire provides us with planned leverage, financial flexibility, and an excellent financing alternative as it enables us to raise capital on an as-needed basis. Having this ready access to capital provides us a stronger financial position as we continue to execute, not only on the commercialization of CoSense, but on the near term value drivers in our therapeutic business.”
Capnia, Inc. develops diagnostics and therapeutics based on its proprietary technology for precision metering of gas flow primarily in the United States. The company offers CoSense for the diagnosis of excessive hemolysis in neonates, a condition that causes long-term developmental disability due to the degradation of red blood cells.
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