During Thursday’s Current trade, Shares of CONSOL Energy Inc. (NYSE:CNX), lost -0.71% to $11.21.
CONSOL Energy Inc. (CNX) declared the closing of two separate asset sale transactions.
CONSOL Energy sold its 49% interest in the Western Allegheny Energy (WAE) joint venture to Rosebud Mining Company. The WAE transaction comprised of the conveyance of 63 million tons of coal reserves. This transaction closed on September 30, 2015.
Separately, CONSOL Energy sold 6.7 million tons of lignite reserves located in South Texas to a private entity.
Aggregate transaction-related proceeds of $101 million comprise: $95 million in cash, $2 million in the assumption of liabilities, and $4 million of advance minimum royalties paid under the terms of leases.
CONSOL Energy predictable a $6 million EBITDA contribution in 2016 related to the assets sold in the transactions. CONSOL Energy intends to use the proceeds from these transactions to reduce debt.
CONSOL Energy Inc., together with its auxiliaries, operates as an integrated energy company in the United States and internationally. The company operates through two divisions, Exploration and Production (E&P), and Coal.
Shares of Mylan NV (NASDAQ:MYL), declined -1.62% to $51.57, during its current trading session.
Mylan N.V. (MYL), declared that it will host a conference call and live webcast on Friday, Oct. 30, 2015, at 10 a.m. ET, to review the company’s financial results for the third quarter ended Sept. 30, 2015. Mylan will release its financial results on Friday, Oct. 30, 2015 before the market opens.
Mylan also intends to provide an overview during the earnings call of its 60-day plan for Perrigo Company plc (NYSE: PRGO; TASE) should Mylan receives greater than 50% of the tender and take control of Perrigo.
Mylan also declared that it intends to provide Perrigo shareholders with a comprehensive presentation during the week of Oct. 12 outlining the clear and compelling value creation inherent for them in Mylan’s offer to acquire Perrigo.
Mylan N.V., through its auxiliaries, develops, licenses, manufactures, markets, and distributes generic, branded generic, and specialty pharmaceuticals worldwide. The company provides generic or branded generic pharmaceutical products in tablet, capsule, injectable, or transdermal patch forms, in addition to active pharmaceutical ingredients (APIs).
Bonanza Creek Energy Inc (NYSE:BCEI), during its Thursday’s current trading session decreased -3.56% to $7.04 as oil prices jump on forecasts for a decline in supplies.
About 5.05 million shares of the energy company were traded by 2:59 p.m. on Tuesday, well above the company’s average trading volume of about 3.28 million shares a day according to the TheStree.
The Energy Information Administration said that production of U.S. crude reduced by 120,000 barrels per day in September from August, with the U.S. producing 9 million barrels per day last month, the lowest level in a year, the Wall Street Journal reports.
On a broader scale, OPEC’s Secretary-General Abdalla Salem el-Badri said at a conference recently that global oil investments will be slashed by $130 billion this year, thereby cutting supply and boosting prices, according to the Journal.
Further, global oil demand is predictable to grow by the biggest amount in six years during 2016, which is strengthening hopes that the market’s supply glut will diminish more quickly than predictable, Reuters reports.
Crude oil (WTI) is gaining by 4.97% to $48.56 per barrel this afternoon, and Brent crude is advancing by 5.34% to $51.88 per barrel, according to the CNBC.com index TheStree reported
Bonanza Creek Energy, Inc., an independent energy company, engages in the acquisition, exploration, development, and production of onshore oil and associated liquids natural gas in the United States.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
