On Monday, Shares of Calpine Corp. (NYSE:CPN), lost -1.91% to $16.97, hitting its lowest level.
Calpine Corporation, and Champion Energy Marketing, LLC, declared that they have reached a contract for Calpine to purchase Champion, one of the nation’s leading retail electric providers, for $240 million, subject to working capital adjustments. Based in Houston, Champion is predictable to serve about 22 TWh of residential, commercial and industrial customer load in 2015, concentrated in Texas and the Northeast U.S. where Calpine has a substantial power generation presence.
Champion will continue to operate under the Champion brand after the transaction closes. Champion’s customers will experience no disruption to service as a result of the transaction, and all existing customer contracts will be honored. David Tudor, Champion’s President and Chief Executive Officer, will remain in his leadership role at Champion, preserving continuity of customer care while ongoing to advance growth efforts.
Calpine Corporation, a wholesale power generation company, owns and operates natural gas-fired and geothermal power plants in North America. It operates natural gas-fired combustion turbines and renewable geothermal conventional steam turbines.
Shares of Rowan Companies plc (NYSE:RDC), declined -0.52% to $17.19, during its last trading session.
Rowan Companies, declared that its report of drilling rig status and contract information has been updated as of July 20, 2015.
Notable events in the current report comprise:
- Rowan Relentless: Rig commenced operations with Freeport-McMoRan in the U.S. Gulf of Mexico on June 16, 2015. This completes Rowan’s ultra-deepwater newbuild campaign in which all four drillships were delivered on budget and ahead of plan.
- Rowan Renaissance: Rig is presently mobilizing to the U.S. Gulf of Mexico from West Africa at a reduced day rate and is predictable to commence operations in September 2015.
- Rowan Reliance: Rig is presently drilling North Platte #3 for Cobalt after plugging and abandoning North Platte #2 on April 6, 2015. Rowan and Cobalt are working toward a resolution that may comprise certain days at zero or reduced day rate.
- Rowan Gorilla VII: Awarded a contract extension to December 2016 with Apache at a 2015-2016 blended day rate of $181,000 with a four-month priced option to follow at the same rate.
- Rowan Gorilla III: Rig is predictable to become accessible in mid-August 2015 due to early termination of the contract. Revenue for balance of contract term (January 2016) is predictable to be recognized in 3Q 2015.
- Rowan Middletown, Charles Rowan and Arch Rowan: Each rig was awarded contract extensions to August 2015 with Saudi Aramco at their current day rates.
- Rowan Gorilla IV: Awarded a multiple-well contract with a total estimated duration of 90 days with Energy XXI at a day rate of $70,000.
- Joe Douglas: Awarded a one-well contract estimated at 45 days to August 2015 with Rooster Energy at a day rate of $52,500. Additional revenue may be earned based on rig and well performance. Following the Rooster Energy contract, the rig will mobilize to Trinidad for BHP with operations predictable to commence in October 2015.
- Rowan Alaska and Rowan Juneau: The rigs have been stepped down from service as drilling units effective July 1, 2015. Rowan has reached contracts for sale of the rigs with an predictable closing by the end of July 2015. The sale agreements prohibit their future use as drilling units.
Rowan Companies plc provides offshore oil and gas contract drilling services. It operates a fleet of 30 self-elevating mobile offshore jack-up drilling units, in addition to 3 ultra-deepwater drill ships.
Finally, CYS Investments, Inc. (NYSE:CYS), ended its last trade with -0.76% loss, and closed at $7.82.
CYS Investments, declared that it will host a conference call at 9:00 AM Eastern Time on Thursday, July 23, 2015, to talk about its financial results for the quarter ended June 30, 2015.
Hosting the call will be Kevin E. Grant, Chairman and Chief Executive Officer, together with other members of the Company’s senior administration team.
CYS Investments, Inc., a specialty finance company, invests in residential mortgage pass-through securities in the United States.
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