On Friday, Spectra Energy Corp. (NYSE:SE)’s shares inclined 0.61% to $31.28.
Spectra Energy Corp (SE) and Spectra Energy Partners (SEP) will declare their second quarter 2015 earnings results before the market opens on Wednesday, August 5, 2015, and will hold a joint investor and analyst conference call at 8 a.m. CT that same day.
Spectra Energy Corp, through its auxiliaries, owns and operates a portfolio of natural gas-related energy assets in North America. The company’s Spectra Energy Partners segment engages in the transmission, storage, and gathering of natural gas, in addition to transportation and storage of crude oil and natural gas liquids (NGLs) for customers in various regions of the midwestern, northeastern, and southeastern United States and Canada.
Comstock Resources Inc (NYSE:CRK)’s shares dropped -7.18% to $2.01.
Comstock Resources, Inc. (CRK) declared that it has reached a definitive purchase and sale agreement with a private company to sell Comstock`s oil and gas properties in and around Burleson County, Texas for a sale price of about $115.0 million, subject to customary adjustments. The sale, which is subject to customary closing conditions, is predictable to close in July 2015 and will have an effective date of May 1, 2015. Comstock intends to use the proceeds from the sale to fund its 2015 drilling program and to enhance the Company`s liquidity in addition to for other corporate purposes.
The properties being sold are producing about 1,900 barrels of oil per day and 5.5 million cubic feet (“MMcf”) per day of natural gas. At December 31, 2014, Comstock`s proved reserves comprised of about 3.7 million barrels of oil and 3.9 billion cubic feet of natural gas related to the interests being sold. The Company anticipates to realize a pre-tax loss on the divestiture ranging from $100.0 to $110.0 million. Taking the divestiture into account, Comstock revised its 2015 oil production guidance to 9,000 to 9,500 barrels per day and its natural gas production guidance to 125 to 150 MMcf per day. Additionally, the Company declared that it has recently added about 10 MMcf per day of natural gas hedges at $3.20 per MMcf for the twelve months starting on July 1, 2015. The Company presently intends to continue to add additional hedges as opportunities develop.
Comstock Resources, Inc., an independent energy company, acquires, develops, explores, and produces oil and natural gas properties in the United States. Its oil and gas operations are primarily located in East Texas/North Louisiana and South Texas. The company owns interests in 1,596 producing oil and natural gas wells. As of December 31, 2014, it had proved reserves of 620 billion cubic feet of natural gas equivalent. The company was founded in 1919 and is headquartered in Frisco, Texas.
At the end of Friday’s trade, Phillips 66 (NYSE:PSX)‘s shares surged 2.67% to $81.49.
Phillips 66(PSX) will release its second-quarter 2015 financial results Friday, July 31, at 8 a.m. EDT. Later that day, Phillips 66 executive administration will host a conference call webcast at noon EDT to talk about the company’s second-quarter performance and provide an update on planned initiatives.
Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks to its refineries and other locations; and delivers refined and specialty products, in addition to provides storage services for crude oil and petroleum products.
AFLAC Incorporated (NYSE:AFL), ended its Friday’s trading session with 1.73% gain, and closed at $61.71.
AFLAC Incorporated (AFL) declared that it has hired Frederick J. Crawford as executive vice president and chief financial officer, reporting to Aflac Chairman and Chief Executive Officer Daniel P. Amos. In his new role, which will be effective June 30, 2015, Crawford will be responsible for overseeing the financial administration of company operations.
As formerly declared, Kriss Cloninger III will remain as president of Aflac Incorporated, with a particular emphasis on capital and planned planning, in addition to assisting the company grow the business while ensuring solid profitability. Cloninger will also be working closely with Crawford as he assumes the chief financial officer role.
Aflac Incorporated, through its partner, American Family Life Assurance Company of Columbus, provides supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers various voluntary supplemental insurance products, counting cancer plans, general medical indemnity plans, medical/sickness riders, care plans, living benefit life plans, ordinary life insurance plans, and annuities in Japan.
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