On Tuesday, Shares of Chesapeake Energy Corporation (NYSE:CHK), loss -3.23% to $15.86.
Chesapeake Energy Corporation, declared that Frank Patterson will join the company as Executive Vice President – Exploration, Land and Subsurface Technology. Patterson replaces John Kapchinske, who recently stepped down from the company. He will report to Chesapeake’s Chief Executive Officer Doug Lawler.
Patterson served in various roles at Anadarko Petroleum Corporation from 2006 to 2015, most recently as Senior Vice President – International Exploration. In that role, he was responsible for leading business development and international new ventures, counting developing and executing exploration and appraisal plans for all of Anadarko’s international acreage positions. Patterson led the teams responsible for the discovery and appraisal of multiple large discoveries across Ghana, Mozambique, Brazil and Cote d’Ivoire.
Patterson formerly worked as Vice President – Deepwater Exploration at Kerr-McGee, where he was responsible for the capture, development and execution of prospect inventory in the Gulf of Mexico, and as Manager – Geology at Sun E&P/Oryx Energy. Patterson holds a Bachelor of Science in geology from the University of Oklahoma and serves on the Board of Visitors at the University of Oklahoma’s Mewbourne College of Earth and Energy.
Chesapeake Energy Corporation engages in the acquisition, exploration, and development of properties for the production of oil, natural gas and natural gas liquids (NGL) from underground reservoirs in the United States.
Shares of Sempra Energy (NYSE:SRE), declined -3.23% to $104.33, during its last trading session.
Sempra Energy, stated first-quarter 2015 earnings of $437 million, or $1.74 per diluted share, up from $247 million, or $0.99 per diluted share, in the first quarter 2014.
Starting in the first quarter 2015, Southern California Gas Co. (SoCalGas) adopted an order by the California Public Utilities Commission (CPUC) to recognize revenues from the utility’s core activities on a seasonally adjusted basis. The application of seasonality in revenues for SoCalGas will result in substantially all of SoCalGas’ annual earnings being stated in the first and fourth quarters of the year, but will not affect full-year operating earnings.
The $190 million enhance in Sempra Energy’s first-quarter 2015 earnings comprised of $113 million incremental earnings due to the seasonal adjustment at SoCalGas.
Sempra Energy’s first-quarter adjusted earnings were $428 million, or $1.71 per diluted share, in 2015, contrast with $256 million, or $1.03 per diluted share, in 2014. First-quarter 2015 GAAP results comprised of a benefit of $13 million after-tax, due to the reduction in the loss related to the San Onofre Nuclear Generating Station (SONGS) closure, offset by a $4 million after-tax liquefied natural gas (LNG) development expense. Last year’s first-quarter GAAP results comprised of a $9 million after-tax charge related to the closure of SONGS.
Sempra Energy operates as an energy services holding company worldwide. The company’s San Diego Gas & Electric Company segment transmits and distributes electricity and/or natural gas. As of February 23, 2015, this segment offered energy service about to 3.4 million consumers through 1.4 million electric meters and 878,000 natural gas meters in San Diego and southern Orange counties.
At the end of Tuesday’s trade, Shares of HEALTHSOUTH Corp. (NYSE:HLS), dipped -3.21% to $41.95.
HealthSouth Corporation, declared it has finalized the formerly declared acquisition of Cardinal Hill Rehabilitation Hospital in Lexington, Kentucky.
Cardinal Hill Rehabilitation Hospital, comprised of 158 licensed inpatient rehabilitation beds and 74 licensed skilled nursing beds, will continue to provide high-quality inpatient rehabilitation, skilled nursing, outpatient rehabilitation and home health services. The hospital will remain in the current location at 2050 Versailles Road in Lexington, Kentucky.
Cardinal Hill Rehabilitation Hospital joins HealthSouth’s national network of 108 inpatient rehabilitation hospitals and is the third hospital in Kentucky joining HealthSouth Northern Kentucky Rehabilitation Hospital in Edgewood and HealthSouth Lakeview Rehabilitation Hospital in Elizabethtown.
HealthSouth Corporation owns and operates inpatient rehabilitation hospitals in the United States. The company provides specialized rehabilitative treatment on an inpatient and outpatient basis.
Finally, Cimarex Energy Co. (NYSE:XEC), ended its last trade with -3.21% loss, and closed at $119.22.
Cimarex Energy, stated a first quarter 2015 net loss of $414.9 million, or $4.84 per diluted share, primarily the result of a non-cash charge related to the impairment of oil and gas properties. The adjusted first quarter net loss was $31.7 million, or $0.37 per diluted share. First quarter 2015 adjusted cash flow from operations was $186.9 million as compared to $408.9 million a year ago.
Total company production averaged 946.7 million cubic feet equivalent (MMcfe) per day during the first quarter, a 28 percent enhance from first quarter 2014. Year-over-year natural gas volumes raised 25 percent, oil volumes grew 31 percent and NGL volumes were up 29 percent.
Continued weakness in commodity prices influenced Cimarex’s financial results for the quarter. Realized oil prices averaged $42.50 per barrel, down 54 percent as compared to a year ago and 35 percent sequentially. Natural gas prices were down 48 percent year-over-year and averaged $2.77 per Mcf contrast to $5.32 per Mcf. NGL prices averaged $15.71 per barrel, down 61 percent from the $39.94 per barrel in the first quarter of 2014.
Cimarex Energy Co. operates as an independent oil and gas exploration and production company primarily in Texas, Oklahoma, and New Mexico. The company owns interests in 3,240 net productive oil and gas wells.
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