On Wednesday, Patterson-UTI Energy, Inc. (NASDAQ:PTEN)’s shares declined -4.55% to $15.95.
PATTERSON-UTI ENERGY, INC. (PTEN) stated that for the month of July 2015, the Company had an average of 111 drilling rigs operating in the United States and four rigs in Canada.
Average drilling rigs operating stated in the Company’s monthly declarements represent the average number of the Company’s drilling rigs that were operating under a drilling contract. The Company cautioned that numerous factors in addition to average drilling rigs operating can impact the Company’s operating results and that a particular trend in the number of drilling rigs operating may or may not indicate a trend in or be indicative of the Company’s financial performance. The Company intends to continue providing monthly updates on drilling rigs operating shortly after the end of each month.
Patterson-UTI Energy, Inc., through its auxiliaries, provides onshore contract drilling services to major and independent oil and natural gas operators in the United States and Canada. The company operates through three segments: Contract Drilling, Pressure Pumping, and Oil and Natural Gas. The Contract Drilling segment markets its contract drilling services primarily in Texas, New Mexico, Louisiana, Oklahoma, Colorado, Utah, Wyoming, Montana, North Dakota, Pennsylvania, Ohio, West Virginia, and western and northern Canada.
TETRA Technologies, Inc. (NYSE:TTI)‘s shares dropped -3.56% to $7.05.
TETRA Technologies, Inc. (TTI) declared second quarter 2015 earnings per share of $0.16, not taking into account Maritech and other charges, which compares to earnings of $0.10 per share in the second quarter of 2014, also not taking into account Maritech and other charges. Second quarter 2015 revenue not taking into account Maritech of $315.9 million raised 31% from the second quarter of 2014 primarily as a result of the acquisition of Compressor Systems, Inc. (“CSI”) on August 4, 2014 by CSI Compressco LP.
Merged GAAP second quarter 2015 earnings per share attributable to TETRA stockholders counting Maritech and other charges were earnings of $0.19, which compares to a loss of $(0.03) in the second quarter of 2014.
Highlights comprise:
- Record second quarter 2015 revenue, adjusted EBITDA, and operating income for the Fluids Division (adjusted EBITDA is a non-GAAP financial measure that is reconciled to the nearest GAAP measure in Plan F).
- Second quarter free cash flow of $43 million(1), not taking into account the impact of $4 million of Maritech asset retirement obligation expenditures.
TETRA Technologies, Inc., together with its auxiliaries, operates as a diversified oil and gas services company. It operates through four divisions: Fluids, Production Testing, Compression, and Offshore. The Fluids division manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States, in addition to in Latin America, Europe, Asia, the Middle East, and Africa. This segment also markets liquid and dry calcium chloride products; and provides water administration services for oil and gas operators in North America.
At the end of Wednesday’s trade, Brunswick Corporation (NYSE:BC)‘s shares dipped -1.77% to $53.17.
Brunswick Corporation (BC) declared an extension of its joint venture with Commercial Distribution Finance (GECDF), a division of GE Capital, through 2019. The joint venture, Brunswick Acceptance Company (BAC), was formed in 2002 and the current agreement was to expire at the end of 2016.
The programs offered by BAC are exclusive to dealers of Brunswick boat brands and Mercury Marine engines in the United States. Presently more than 600 dealers take part in the programs, often with multiple Brunswick brands in their dealerships.
Brunswick Corporation designs, manufactures, and markets recreation products in the United States and internationally. The company’s Marine Engine segment offers outboard engines, sterndrive propulsion systems, and inboard engines under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Sport Jet and Mercury Jet Drive, MotorGuide, Axius, and Zeus brands; and marine electronics and control integration systems, steering systems, instruments, controls, propellers, trolling motors, fuel systems, service parts, and marine lubricants under the Quicksilver, Mercury Precision Parts, Mercury Propellers, Attwood, Land N Sea, Kellogg Marine Supply, Diversified Marine Products, Bell Recreational Products, Sea Choice, and MotorGuide brands, in addition to supplies integrated diesel propulsion systems. It serves independent boat builders and end users, in addition to local, state, and foreign governments through a network of marine dealers and distributors, specialty marine retailers, and marine service centers.
Golar LNG Limited (USA) (NASDAQ:GLNG), ended its Wednesday’s trading session with -3.96% loss, and closed at $37.81.
Dynagas Ltd. GasLog Ltd and Golar LNG Ltd (GLNG) jointly declare that they have reached an LNG carrier pooling agreement (the “LNG Carrier Pool”) to market their vessels, which are presently operating in the LNG shipping spot market.
The LNG Carrier Pool allows the participating owners to optimise the operation of the pool vessels through improved scheduling ability, cost efficiencies and common marketing. The objective of the LNG Carrier Pool is to serve the transportation requirements of a rapidly growing LNG shipping market by providing customers with reliable, more flexible, and innovative solutions to meet their increasingly complex shipping requirements.
Tony Lauritzen has agreed to take overall responsibility for the running of The Cool Pool and Morten Nielsen has been designated as Pool Manager, with the mandate to plan employment for each pool vessel. The Cool Pool will focus exclusively on charters of 12 months duration or less. The scheduling of employment opportunities in excess of 12 months will remain the mandate of the respective vessel owner. If a pool vessel is planned by an owner for a charter that exceeds 12 months in duration such vessel will cease to form part of the LNG Carrier Pool’s fleet.
Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, liquefaction, and trading of LNG. The company operates in three segments: Vessel Operations, LNG Trading, and FLNG. It is involved in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.
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