Insights about those Stocks that landed in the Red-Zone during Tuesday’s trade, are depicted underneath:
American Eagle Energy Corp (NYSEMKT:AMZG)’s shares dwindled -36.55%, and closed at $0.368, hitting new 52-week low of $0.34, during the last trading session.
American Eagle Energy Corporation, declares an operations update for the fourth quarter ending December 31, 2014, capital spending and production guidance, and estimated proved reserves for year-end 2014.
Operated Well Development:
During the fourth quarter ended December 31, 2014, American Eagle added three gross (1.8 net) wells to production. As declared formerly, the Donald 15-33S (Three Forks long lateral) well, the last of six wells developed under the Corporation’s Farm-Out program, produced an average of 312 barrels of oil equivalent per day (“BOEPD”) during the first 30 days of production. The Rick 13-31 (Three Forks short-lateral) well produced an average of 267 BOEPD during the first 30 days of production. The Huffman 15-34S (Three Forks long-lateral) well, in which the Corporation owns a 94% working interest (“WI”), was the second well stimulated by American Eagle using slickwater stimulation. The Huffman well was brought on production in December 2014 and averaged 261 BOEPD during the first 30 days of production. The Huffman well has averaged 266 BOEPD during February 2015, which is similar to the flat, stable production behavior observed in the Eli 8-1E (Bakken long-lateral) well, which was the Corporation’s initial slickwater completion.
Remedial completions, designed to correct problems with faulty stimulation sleeves, were performed during the quarter on the Shelly 3-2N (Three Forks short-lateral, 97% WI) and the La Plata State 2-16 (Three Forks long lateral, 39% WI) wells. The work on the Shelly 3-2N well was partially successful and established an initial 30 day production rate of about 61 BOEPD. The recompletion of the La Plata State 2-16 well was unsuccessful in isolating communication with an overlying zone and stimulating the Three Forks Formation.
American Eagle Energy Corporation is engaged in the attainment, exploration, development, and producing of oil and gas properties. It primarily holds interests in the Spyglass property covering an area of about 12,000 net acres located in Sheridan, Daniels, and Richland counties, Montana, and southeastern Saskatchewan, Canada. The corporation also holds interests in the Hardy property located in southeastern Saskatchewan.
Corporate Resource Services Inc (NASDAQ:CRRS), declined -35.13%, and closed at $0.0999.
Corporate Resource Services, Inc. Habib Noor declared that Noor Staffing Group, LLC has reached an contract to purchase all assets of Corporate Resource Development, Inc. (CRD). CRD is a subsidy of Corporate Resource Services Inc. (CRS), listed on NASDAQ:CRRS. The declaration was warmly greeted by the New York headquarters staff of CRD.
Habib Noor is the sole owner of, SearchPoint, Noor Staffing Group, Ideal Talent Solutions and GHG group of companies. These staffing and recruiting firms serve a diverse set of national and local clients counting federal and state agencies, operating in 26 states. Habib Noor has been a veteran leader in the recruiting and staffing industry since 1995 and has extensive experience acquiring financially stressed companies. In 2011, Mr. Noor purchased the GHG group of companies, a distressed corporation; by 2014 it was listed as the 9th fastest growing corporation in central Pennsylvania. Noor Staffing Group will bring financial stability, improved business operations and a dedication to excellence to CRD’s list of over 300 valued clients and 1,500 internal and contingent employees, nationwide through seven offices.
Mr. Habib Noor stated: “As a veteran of the staffing industry, we are bringing both financial and operational order to this stressed corporation; we are positioned to do so due to our financial diligence, stability and also our experience. We are implementing a plan to ensure the continuity of business operations and payroll for all internal and contingent employees. We will continue to support and serve all of CRD’s current clients without interruptions while working diligently to secure their continued trust.”
Corporate Resource Services, Inc. provides diversified technology, staffing, recruiting, and consulting services in the United States. It offers trained employees in the areas of insurance, information technology, accounting, legal, engineering, science, healthcare, life sciences, creative services, hospitality, retail, general business, and light industrial work.
Opower Inc (NYSE:OPWR), dipped -25.08%, and closed at $11.59.
OPOWER, Inc. Southern California Edison (SCE), one of the nation’s largest utilities, declared that it has selected Opower (OPWR), the global leader in cloud-based software for the utility industry, for a planned multi-year partnership. SCE will leverage the Opower platform, Opower 6, to deliver energy administration solutions to all customer classes.
Opower 6 comprises a broad set of upgrades to Opower’s industry-leading platform that provide best in class tools and analytics to all Opower clients. In addition to this upgrade, Opower recently declared the release of a new Customer Care solution that uses real-time communications and powerful analytics to improve customer satisfaction and lower cost to serve for utilities.
Opower, Inc. provides cloud-based software to the utility industry in the United States. Its software analyzes energy data and presents personalized insights to consumers in order to motivate reductions in energy consumption. The corporation offers energy efficiency solutions comprising energy reports under the utility’s brand; and smart meter-enabled alerts through Web and mobile applications, mail, and email.
Primoris Services Corp (NASDAQ:PRIM), dropped -18.35%, and closed at $17.22, hitting new 52-week low of $16.90.
Primoris Services Corporation, declared that it has attained Aevenia, Inc., a partner of Otter Tail Corporation (OTTR). Headquartered in Moorhead, Minnesota, Aevenia is an energy and electrical construction corporation. The transaction closed on February 28, 2015 and was valued at about $23 million. For the year ended December 31, 2014, Aevenia generated EBITDA of $5.9 million on proceeds of $44.4 million.
Aevenia specializes in overhead and underground line work, substations, telecom/fiber, and certain other client-specific on-demand call out services. The majority of their work is delivered under unit-price Master Services Contracts (“MSAs”). Aevenia has operations in Minnesota, North Dakota, South Dakota and Iowa.
Aevenia will be re-branded as Primoris AV, Energy and Electrical Construction Corporation, and operate as part of Primoris’ Energy segment. Current administration, counting Aevenia President Mike Hanson, will continue to manage day to day operations.
Primoris Services Corporation, a specialty contractor and infrastructure corporation, provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services in the United States and internationally. It operates in three segments: the East Construction Services, the West Construction Services, and the Engineering.
