Energy Stocks dropped down about 2 percent as the best decliner in the S&P 500.
Two of the three noteworthy United States records floated down on Thursday, weighed by falling vitality stocks as the drop in oil costs extended.
A few oil boring organizations fell forcefully. Ensco slid $2.17, or 8.2 percent, to $24.31, while Noble shed $2.49, or 5 percent, to $47.32.
The Dow finished down 10.15 focuses, at 18,214.42.
In different prospects exchanging on the Nymex, wholesale gas fell 1.1 pennies to close at $1.708 a gallon. Warming oil climbed 3.2 pennies to close at $2.136 a gallon. What’s more regular gas fell 16.5 pennies to close at $2.697 every 1,000 cubic feet.
Details about those basic material sector stocks that landed in the red-zone during yesterday’s trade, are depicted underneath:
Comstock Resources Inc. (NYSE:CRK)’s shares declined nearly -10.87%, and closed at $5.25, during the last trading session, as an independent energy company, declared that it intends to offer $700 million in aggregate principal amount of senior secured notes due 2020 in a private offering, subject to market and other conditions. The notes will be guaranteed by each of Comstock`s auxiliaries. The notes and the guarantees will be secured by a first priority lien on substantially all of the Company`s and its auxiliaries` assets, subject to payment priority in favor of the lenders under a new credit facility. Comstock intends to use the net proceeds of the projected offering to retire its bank credit facility, with remaining proceeds for general corporate purposes. In connection with the offering, the Company intends to enter into a new $50 million bank revolving credit facility.
The notes will be offered in the United States only to qualified institutional buyers following Rule 144A under the Securities Act of 1933, as amended, and outside the United States to non-U.S. persons following Regulation S under the Securities Act. The notes have not been registered under the Securities Act or the securities laws of any jurisdiction and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.
Comstock Resources Inc. (NYSE:CRK), is a growing independent energy company based in Frisco, Texas and is engaged in oil and gas attainments, exploration and development primarily in Texas and Louisiana. The Company`s stock is traded on the New York Stock Exchange under the symbol CRK.
BP Prudhoe Bay Royalty Trust (NYSE:BPT), dipped nearly -10.53%, and closed at $66.43. The company has the market capitalization of $1.42B, while it traded in a range of $61.67 - $74.14. The company occupied 1,439,083 volume as compared to its average volume of 238,464.
BP Prudhoe Bay Royalty Trust operates as a grantor trust in the United States. The company holds overriding royalty interest comprising a non-operational interest in minerals in the Prudhoe Bay field located on the North Slope of Alaska.
Goodrich Petroleum Corp. (NYSE:GDP), dropped 9.98%, and closed at $4.24, as an independent oil and natural gas company, formerly declared that it has planned a conference call on Friday, February 27, 2015, at 11:00 AM, Eastern Time, to talk about its fourth quarter and full year 2014 operations and earnings. The Company plans to issue its fourth quarter and full year 2014 earnings release before the market opens on Friday, February 27, 2015.
Goodrich Petroleum Corp. (NYSE:GDP), an independent oil and natural gas company, is engaged in the exploration, development, and production of oil and natural gas. The company holds interest in the Eagle Ford Shale Trend located in South Texas; the Haynesville Shale and Cotton Valley Taylor Sand in northwest Louisiana and East Texas; and the Tuscaloosa Marine Shale located in southwest Mississippi and southeast Louisiana.
WPX Energy, Inc. (NYSE:WPX), dwindled 9.97%, and closed at $10.75, as an independent natural gas and oil exploration and production company, formerly on February 12, declared a 2015 capital investment plan of about $725 million (midpoint), in line with the company’s projected operating cash flow. As part of its long-term strategy, WPX will continue to diversify its historically gas-weighted portfolio. WPX’s oil production grew 56 percent in 2014 year over year, far surpassing its plan for 40 percent growth last year.
In fourth-quarter 2014, oil volumes rose 6,500 barrels per day to about 32,300 barrels per day, accounting for nearly 20 percent of the company’s equivalent production. This marked a 25 percent sequential-quarter raise over third-quarter 2014 oil production of 25,800 barrels per day.
The company’s 2015 capital plan is roughly half the amount of its capital plan last year, not including attainment capital.
“Our capital plan is prudent, disciplined and consistent with our long-term focus,” said Rick Muncrief, WPX president and chief executive officer. WPX anticipates its oil production to climb again in 2015. The company is targeting 15 to 20 percent oil growth this year even as it decreases capital spending and builds an inventory of wells awaiting completion for when commodity prices are more favorable.
WPX also recently generated nearly $600 million cash through selling its international interests and part of its operations in the Marcellus Shale. As formerly declared, the company is focusing on its core assets in the Williston, San Juan and Piceance basins.
The company’s 2015 capital program comprises $275 million to $300 million for San Juan Basin development, $200 million to $225 million for Williston Basin activity, $200 million to $225 million for Piceance Basin development and $25 million for land and exploration.
WPX Energy, Inc. (NYSE:WPX), develops and operates oil and gas producing properties in North Dakota, New Mexico and Colorado. The company has a long history of innovation and stakeholder engagement, recognized through more than 40 local, state, federal and industry awards.
