On Wednesday, United States Steel Corp. (NYSE:X)’s shares surged 5.52% to $27.33.
United States Steel, declared two administration changes at its European and North American operating facilities. Scott Buckiso has been named vice president – European Solutions and president – U. S. Steel Kosice, succeeding George Babcoke, who has elected to retire following 39 years of service with the company. Amy Smith-Yoder will succeed Buckiso as general manager – Mon Valley Works. The changes are effective May 31.
In his new role, Buckiso will assume executive responsibility for the company’s operations in the Slovak Republic. He joined U. S. Steel in 1990 as a administration associate at Mon Valley Works’ Irvin Plant. From 1990 to 2004 Buckiso advanced through a series of increasingly responsible positions in finishing operations at the Irvin Plant, in addition to in casting at Mon Valley Works’ Edgar Thomson Plant and finishing operations at Great Lakes Works. In 2004 he became division manager of rolling at Great Lakes Works, adding oversight of the plant’s finishing operations to his area of responsibility shortly thereafter. In 2006 he advanced to general manager of finishing at the former U. S. Steel Serbia, startning his international operations administration experience. Buckiso returned to North America in 2007 when he was named plant manager of U. S. Steel Canada’s Lake Erie Works. He later became plant manager – finishing at Gary Works in January 2009 and was named to his current post in July 2011.
Buckiso is a native of Pittsburgh, Pa., and a 1990 graduate of the University of Maryland where he earned a bachelor’s degree in communication and speech.
United States Steel Corporation produces and sells flat-rolled and tubular steel products in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.
RPC Inc. (NYSE:RES)’s shares gained 5.51% to $15.51, during the last trading session on Wednesday.
RPC, declared that it will release its financial results for the first quarter ended March 31, 2015 on Wednesday, April 29, 2015 before the market opens. In conjunction with its earnings release, the Company will host a conference call to review the Company’s financial and operating results on Wednesday, April 29, 2015 at 9:00 a.m. Eastern Time.
RPC, Inc. provides a range of oilfield services and equipment for oil and gas companies involved in the exploration, production, and development of oil and gas properties in the United States, Africa, Canada, China, Eastern Europe, Latin America, the Middle East, and New Zealand.
At the end of Wednesday’s trade, McDermott International Inc. (NYSE:MDR)’s shares gained 5.47% to $5.40, as oil prices extended their rally.
Oil prices extended their rally from Tuesday as government data demonstrated a smaller-than-predictable raise in crude oil stockpiles in the U.S. in the latest week.
WTI crude was up 4.99% to $55.95 at 3:04 p.m., while Brent crude rallied 3.29% to $60.35, according to CNBC.
McDermott International, Inc. operates as an engineering, procurement, construction, and installation company worldwide. The company operates through three segments: Asia Pacific, Americas, and the Middle East. It focuses on designing and executing offshore oil and gas projects.
Finally, Triangle Petroleum Corporation (NYSEMKT:TPLM), ended its Wednesday’s trading session with 5.46% gain, and closed at $6.18.
Triangle Petroleum, provides an operational update and reports its fourth quarter fiscal year 2015 and full fiscal year 2015 results for the period ended January 31, 2015.
Highlights for Fiscal Year 2015:
- Raised volumes in FY 2015 to 4,176 Mboe (+116% y/y) as contrast to 1,929 Mboe in fiscal year 2014. Average daily production raised to 11,441 Boepd in FY 2015, or 2% above the high end of our FY 2015 guidance range of 10,200-11,200 Boepd, from 5,286 Boepd in FY 2014
- Total capital expenditures amounted to about $671.9 million, in line with full year budget guidance
- Raised merged adjusted net income in FY 2015 to $54.1 million, or $0.58 per fully diluted EPS (+21% y/y), as contrast to $37.4 million, or $0.48 per fully diluted EPS in FY 2014
- Raised total estimated net proved reserves to 58,870 Mboe (61% proved developed) at fiscal year-end 2015, a 46% raise over fiscal year-end 2014 total estimated net proved reserves, with an associated raise in SEC PV-10 to about $983 million (+45% y/y)
- Repurchased and stepped down $20.5 million face value of Triangle USA Petroleum Corporation (“TUSA”) outstanding 6.75% bonds for just under $13.9 million
- Repurchased 6.5 million shares of common stock at an average price of $4.94 per share in Q4 2015, bringing cumulative repurchases during FY 2015 to about 11.4 million shares at an average price of $6.72 per share leaving a total of about 75.2 million shares outstanding at January 31, 2015.
- $428.7 million of total liquidity as of January 31, 2015, counting $67.9 million of cash on hand and accessible borrowing capacity on TUSA and RockPile Energy Services credit facilities.
Triangle Petroleum Corporation is engaged in the acquisition, exploration, development, and production of unconventional shale oil and natural gas resources in the Bakken Shale and Three Forks formations in the Williston Basin of North Dakota and Montana. As of January 31, 2014, the company held leasehold interests in about 94,000 net acres in McKenzie and Williams Counties of North Dakota, and Sheridan and Roosevelt Counties of Montana.
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