On Monday, Energy XXI Ltd (NASDAQ:EXXI)’s shares declined -1.60% to $3.08.
Energy XXI Ltd (EXXI) declared that after several constructive meetings and exchanges of information, Energy XXI has reached a contract with the Bureau of Ocean Energy Administration (BOEM) with regard to supplemental bonding requirements for the company and its auxiliaries. Energy XXI has offered $150 million of supplemental bonding, bringing the company’s total supplemental bonding to $319 million at an annual premium expense of $4.8 million, with about $10 million collateral posted. In addition, the company maintains $226 million in Letters of Credit to third parties on additional assets in the Gulf of Mexico. The BOEM has agreed to withdraw its orders with regard to supplemental bonding upon dismissal of the appeals filed by Energy XXI with the Interior Board of Land Appeals, and postponed until November 15, 2015 the issuance of any further requirements for financial assurance with respect to activities on existing properties of Energy XXI and its auxiliaries.
Energy XXI (Bermuda) Limited is engaged in the acquisition, exploration, development, production, and operation of oil and natural gas properties onshore in Louisiana and Texas, and on the Gulf of Mexico. As of June 30, 2014, the company had proved reserves of 246.2 million barrels of oil equivalent. It operated or had an interest in 984 gross producing wells on 432,954 net developed acres, counting interests in 61 producing fields. Energy XXI (Bermuda) Limited was founded in 2005 and is headquartered in Houston, Texas.
Synageva Biopharma Corp (NASDAQ:GEVA)’s shares gained 1.19% to $238.60.
Synageva Biopharma Corp (GEVA) declared the completion of enrollment in a Phase 1/2 trial with SBC-103 in patients with mucopolysaccharidosis IIIB (MPS IIIB, also known as Sanfilippo B syndrome).
Synageva BioPharma Corp. operates as a biopharmaceutical company in the United States. It focuses on the discovery, development, and commercialization of therapeutic products for patients with rare diseases. The company’s lead program comprises sebelipase alfa, a recombinant form of human lysosomal acid lipase (LAL) under the Kanuma brand name for the treatment of LAL deficiency in infants, children, and adults.
At the end of Mondays trade, AuRico Gold Inc (NYSE:AUQ)‘s shares dipped -2.87% to $3.05.
AuRico Gold Inc (AUQ) declared the withdrawal of the projected AuRico Metals Inc. (“AuRico Metals”) employee share purchase plan (the “Plan”) that was to be presented at their respective Special Meetings of Shareholders (the “Meetings”) to be held on June 24, 2015 . The original Plan for AuRico Metals was based on the approved Plan of AuRico and while the Plan received a positive recommendation from proxy advisory firm Glass, Lewis & Co., LLC, Alamos and AuRico have withdrawn the Plan in response to the recommendation made by proxy advisory firm Institutional Shareholder Services Inc. The long term incentive plan of AuRico Metals remains unchanged and will be presented to Alamos and AuRico shareholders at their respective Meetings for approval. AuRico Metals is a new company that has been created as part of the formerly declared merger of equals between Alamos and AuRico.
AuRico Gold Inc. operates as a gold producer with mines and projects in North America. Its principal projects comprise the Young-Davidson gold mine comprising of contiguous mineral leases and claims totaling 11,000 acres located in Northern Ontario, Canada; and the El Chanate mine comprising 22 mineral concessions that cover an area of about 4,618 hectares located in Sonora State, Mexico. The company was formerly known as Gammon Gold Inc. and changed its name to AuRico Gold Inc. in June 2011. AuRico Gold Inc. was founded in 1986 and is headquartered in Toronto, Canada.
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