On Friday, Resolute Energy Corporation (NYSE:REN)’s shares gained 3.05% to $0.89, while its weekly performance remained better, showing an upward trend up to 50.69%.
Formerly on March 30, Resolute Energy, declared that it has reached a definitive contract to sell certain non-core assets in the Midland Basin portion of the Permian Basin in west Texas. The properties will be sold to a private party for a purchase price of about $42 million. The proceeds of the sale will be used to reduce debt, initially by reducing amounts outstanding under the Company’s revolving credit facility.
The transaction, which is predictable to close on or about May 1, 2015, has an effective date of March 1, 2015, and is subject to customary conditions and purchase price adjustments, counting for title and environmental defects. The assets comprise of operated and non-operated properties primarily located in Howard County, Texas.
Nicholas J. Sutton, Resolute’s Chairman and Chief Executive Officer said: “This transaction represents the first step in our formerly declared plan to pursue non-core asset sales to reduce debt and improve our liquidity. We look forward to closing this transaction in the coming weeks, at which time we will provide a more detailed breakdown of the assets sold, and the production and cost influence on Resolute for the calendar year 2015.”
Resolute Energy Corporation, an independent oil and gas company, attains, explores for, develops, and produces oil, gas, and hydrocarbon liquids. It holds interest in the Aneth Field covering about 43,000 gross acres located in the Paradox Basin in southeast Utah; and 36,500 gross acres in the Permian Basin of Texas and southeast New Mexico.
Inuvo, Inc. (NYSEMKT:INUV)’s shares dropped -6.86% to $2.85, during the last trading session on Friday, hitting its highest level, while its weekly performance remained Best, showing an upward trend up to 49.21%.
Recently, Inuvo, declared that the expansion in both its digital publishing and ad-tech business segments over the last year has caused the Company to outgrow its current office. As a result, Inuvo has signed a five-year lease for office space in Little Rock, Arkansas that will effectively double its current office space to nearly 13,000 sf. The company will be relocating the majority of its 53 employees to a new facility at 500 President Clinton Ave. in Little Rock, Arkansas. The Company anticipates to move into the new facility later this year.
“With the growth of our business, we have been bursting at the seams in our current location. Executing on our 2015 business plan, where Native Advertising and Digital Content are front and center, requires that we continue to expand our current team of exceptionally talented professionals. We were fortunate to find a cost effective space in the heart of Little Rock, in close proximity to the Little Rock Tech Park and other local amenities that will accommodate our current and planned growth,” said Richard Howe, Chairman and CEO of Inuvo
Inuvo, Inc., together with its auxiliaries, operates as an Internet marketing and technology company that delivers advertisements through various networks of Websites and applications reaching desktop and mobile devices in the United States.
At the end of Friday’s trade, AirMedia Group Inc. (NASDAQ:AMCN)’s shares gained 2.03% to $3.01, while its weekly performance remained Best, showing an upward trend up to 49.01%.
Recently, AirMedia Group, declared that Guangzhou Meizheng Advertising Co., Ltd., one of its merged entities in which AirMedia has 63.2% of the equity interest, has recently won a bidding and has reached a concession contract with Shanghai Railway Culture and Advertising Development Co., Ltd., following which Meizheng has been granted the exclusive right to install and operate Wi-Fi systems on ordinary trains operated by Shanghai Railway Bureau. As of the time of execution of the Concession Contract, Shanghai Railway Bureau had 147 groups of ordinary trains.
Shanghai Railway Bureau had 275 million passengers on its high-speed trains and 175 million passengers on its ordinary trains in 2014.
Before obtaining the aforementioned concession right, AirMedia was granted concession rights to install and operate Wi-Fi systems on the high-speed trains operated by Beijing Railway Bureau, Shanghai Railway Bureau and Guangzhou Railway (Group) Corporation, with which AirMedia established a leading position in Wi-Fi services on high-speed trains in China, in terms of the number of high-speed trains on which it has concession rights to operate on-train Wi-Fi systems. In addition, AirMedia also holds the concession rights to install and operate Wi-Fi systems on ordinary trains operated by Xinjiang Railway Bureau.
AirMedia Group Inc. operates out-of-home advertising platforms primarily in the People’s Republic of China. It operates a network of digital frames in airports; digital TV screens in airports and on airplanes; traditional media in airports, such as light boxes, billboards, and painted advertisements; and gas station media displays, in addition to other outdoor media displays out of the air travel advertising sector.
Altisource Portfolio Solutions S.A. (NASDAQ:ASPS), ended its Friday’s trading session with 8.57% surge, and closed at $20.53, while its weekly performance remained better, showing an upward trend up to 36.87%.
Altisource, will report earnings for the first quarter of 2015 on Thursday, April 23, 2015. Altisource will also host a conference call at 11:00 a.m. EDT on the same day to talk about its first quarter 2015 results.
Altisource Portfolio Solutions S.A. operates as a marketplace and transaction solutions provider for the real estate, mortgage, and consumer debt industries in the United States.
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