On Thursday, Cenovus Energy Inc (USA) (NYSE:CVE)’s shares inclined 0.38% to $15.68.
Cenovus Energy Inc. (CVE) (CVE) has reached an agreement to sell Heritage Royalty Limited Partnership (HRP), a wholly-owned subsidiary, to Ontario Teachers’ Pension Plan (Teachers’) for gross cash proceeds of approximately $3.3 billion. HRP holds approximately 4.8 million gross acres of royalty interest and mineral fee title lands in Alberta, Saskatchewan and Manitoba. In the first quarter of 2015, HRP had associated third-party royalty interest volumes of approximately 7,800 barrels of oil equivalent per day (BOE/d). Additional royalties have also been added to HRP – a royalty on Cenovus’s working interest production with implied first quarter volumes of approximately 5,400 BOE/d (pro forma), as well as a Gross Overriding Royalty (GORR) on Cenovus’s Pelican Lake heavy oil property in northern Alberta and its enhanced oil recovery project in Weyburn, Saskatchewan, with implied first quarter volumes of 1,600 BOE/d (pro forma). The GORR represents less than 15% of HRP’s cash flow.
Cenovus’s decision to sell HRP to Teachers’ is the outcome of a rigorous marketing process that attracted significant interest. Over the past several months, the company considered several alternatives to generate value from the business, including a potential initial public offering. After a thorough review, the transaction with Teachers’ was determined to be the best alternative to maximize value for Cenovus shareholders.
Cenovus Energy Inc., an integrated oil company, develops, produces, and markets crude oil, natural gas liquids (NGLs), and natural gas in Canada with refining operations in the United States. The company’s Oil Sands segment engages in the development and production of bitumen assets at Foster Creek, Christina Lake, Narrows Lake, and the Athabasca natural gas assets, in addition to projects in the early stages of development, such as Grand Rapids and Telephone Lake. Its Conventional segment develops and produces conventional crude oil, NGLs, and natural gas in Alberta and Saskatchewan, counting the heavy oil assets at Pelican Lake.
Nucor Corporation (NYSE:NUE)’s shares dropped -0.54% to $44.25.
Nucor Corporation (NUE) declared the regular quarterly cash dividend of $0.3725 per share on Nucor’s common stock. This cash dividend is payable on August 11, 2015 to stockholders of record on June 30, 2015, and is Nucor’s 169th successive quarterly cash dividend.
Nucor and associates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada. Products produced comprise: carbon and alloy steel — in bars, beams, sheet and plate; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; steel grating and expanded metal; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America’s largest recycler.
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. It operates through three segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment produces and distributes hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; structural steel products comprising wide-flange beams, beam blanks, H-pilings, and sheet pilings; and bar steel products, such as blooms, billets, concrete reinforcing bars, merchant bars, and special bar quality products.
At the end of Thursday’s trade, Navient Corp (NASDAQ:NAVI)‘s shares showed no chnage to $18.45.
Navient Corp (NAVI) the nation’s leading loan administration, servicing and asset recovery company, has declared that Navient Foundation, the company-sponsored philanthropic organization, awarded a $22,000 grant to Luzerne County Head Start, a United Way agency dedicated to enhancing the quality of life for low-income children and their families.
Luzerne County Head Start offers multiple programs and services for children, counting preschool centers, an Early Head Start program for children up to age three, and children with disabilities.
Navient Corporation provides financial products and services in the United States. The company operates in four segments: FFELP Loans, Private Education Loans, Business Services, and Other. It provides federal family education loan program (FFELP) loans and servicing for FFELP loan portfolio; and servicing and asset recovery services for loans on behalf of guarantors of FFELP loans, guaranty agencies, higher education institutions, the United States Department of Education, and other federal clients, in addition to states, courts, and municipalities.
Amicus Therapeutics, Inc. (NASDAQ:FOLD), ended its Thursday’s trading session with -1.93% loss, and closed at $13.75.
Amicus Therapeutics, Inc. (FOLD) has been added to the U.S. broad-market Russell 3000(R) and small-cap Russell 2000(R) Indexes. The Company joined the indexes at the close of market on Friday, June 26, 2015, when Russell Investments reconstituted its U.S. and global equity indexes.
Annual reconstitution of Russell’s U.S. indexes captures and ranks the 4,000 largest U.S. stocks as of the end of May by total market capitalization. The Russell 3000 Index measures the performance of the largest 3,000 U.S. companies representing about 98% of the investable U.S. equity market. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000(R) Index or small-cap Russell 2000 Index in addition to the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
Amicus Therapeutics, Inc., a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for various rare and orphan diseases. Its product candidate is a small molecule that can be used as a monotherapy and in combination with enzyme replacement therapy (ERT) for Fabry disease. The company’s development programs comprise next-generation ERTs for lysosomal storage disorders (LSDs), such as Fabry disease, Pompe disease, and Mucopolysaccharidosis Type I. It also develops pharmacological chaperone migalastat HCl as a monotherapy that has accomplished two Phase III global registration studies for Fabry disease; ATB200, a recombinant human acid-alpha glucosidase that is in late preclinical development for Pompe disease; and AT3375 for the treatment of Parkinson’s disease.
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