On Wednesday, Shares of Barrick Gold Corporation (NYSE:ABX), lost -3.82% to $6.54, hitting its lowest level.
Barrick Gold Corporation stated Q2 results 2015.
The company stated a net loss of $9 million ($0.01 per share) for the second quarter, with adjusted net earnings of $60 million ($0.05 per share). Free cash flow was $26 million, contrast to negative free cash flow of $128 million in the preceding year period. Operating cash flow in the second quarter was $525 million. Second quarter adjusted EBITDA was $725 million. On an unadjusted basis, EBITDA was $690 million.
Gold production guidance for 2015 has been adjusted to 6.1-6.4 million ounces to reflect the impact of divestments, with production 55 percent weighted to the second half of the year. Costs are predictable to be 10 percent lower in the second half of 2015. Full-year all-in sustaining cost guidance is $840-$880 per ounce, down from $860-$895 per ounce.
Barrick Gold Corporation produces and sells gold and copper. The company is also involved in exploration and mine development activities. It conducts mining, development and exploration, and other activities in various countries, counting the United States, Canada, Australia, Argentina, Chile, Peru, the Dominican Republic, Papua New Guinea, Tanzania, Zambia, and Saudi Arabia.
Shares of RSP Permian, Inc. (NYSE:RSPP), inclined 3.95% to $23.66, during its last trading session.
RSP Permian, declared the pricing of an additional $200 million in aggregate principal amount of its 6.625% Senior Notes due 2022 (the “New Notes”) in a private placement to eligible purchasers under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the “Securities Act”). This represents an enhance of $50 million over the aggregate principal amount formerly declared. The New Notes mature October 1, 2022 and were priced at 99.25 percent of the principal amount, with a yield to worst of 6.76 percent. The New Notes are being offered as additional notes to the Company’s existing $500 million aggregate principal amount of 6.625% Senior Notes due 2022 (the “Initial Notes”) that the Company sold in a private placement in September 2014. The New Notes and the Initial Notes will be treated as a single class of debt securities and will have identical terms, other than the issue date. The offering is predictable to close on August 10, 2015, subject to market and other customary closing conditions.
RSP Permian, Inc., an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas.
Finally, Penn Virginia Corporation (NYSE:PVA), ended its last trade with -10.84% loss, and closed at $0.95, hitting its lowest level.
Penn Virginia Corporation stated financial results for the three months ended June 30, 2015 and offered updates of its operations and 2015 capital plan and guidance.
Key Highlights
- Second quarter 2015 results contrast, as applicable, to first quarter 2015 results were as follows:
- Product revenues raised to $118.0 million from $110.6 million, counting oil and gas derivatives.
- Realized oil, gas and natural gas liquids (NGLs) prices were $82.44 per barrel, $2.54 per thousand cubic feet (Mcf) and $13.53 per barrel, contrast to $71.79 per barrel, $3.14 per Mcf and $13.60 per barrel, counting oil and gas derivatives.
- Unit production costs, counting lease operating expense, gathering, processing and transportation expenses and production and ad valorem taxes, reduced to $10.40 per barrel of oil equivalent (BOE) from $10.68 per BOE.
- Recurring unit production and general and administrative (G&A) costs reduced 4% to $4.59 per BOE from $4.77 per BOE and were 23% lower than $5.98 per BOE in the second quarter of 2014.
- Adjusted EBITDAX, a non-GAAP (generally accepted accounting principles) measure, raised to $85.5 million, from $77.6 million.
- Total production during the second quarter was in excess of 2.1 million barrels of oil equivalent (MMBOE), or 23,519 BOE per day (BOEPD), contrast to 24,721 BOEPD.
- Total production raised 8% over the second quarter of 2014 and raised 18%, pro forma to exclude volumes from Mississippi properties sold in July 2014.
- Eagle Ford production was 20,259 BOEPD, contrast to 21,390 BOEPD.
- The sequential decline in Eagle Ford production was due to high line pressure in sections of our midstream gathering system and lower than predictable early-time production performance of our recent Upper Eagle Ford program
- The estimated negative effect on production of high line pressure was about 500 BOEPD.
Penn Virginia Corporation, an independent oil and gas company, explores, develops, and produces crude oil, natural gas liquids, and natural gas in various onshore regions of the United States. The company’s operations comprise the drilling of unconventional horizontal development wells in the Eagle Ford Shale in South Texas.
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