On Friday, Abraxas Petroleum Corp. (NASDAQ:AXAS)’s shares declined -2.89% to $3.69.
Abraxas Petroleum Corp. (AXAS) declared the acquisition of an additional Bakken/Three Forks interest; declared the reaffirmation of the Company’s borrowing base; and offered the following operations and guidance update.
Acquisition of an Additional Bakken/Three Forks Interest
Abraxas attained an additional 210 net Bakken acres. The addition of this acreage gives Abraxas a majority interest in one additional unit offsetting the Company’s North Fork acreage. Abraxas now plans to go before the North Dakota Industrial Commission (“NDIC”) to install the Company as operator on the unit where it now holds a controlling interest. With success and the approval of downspacing by the NDIC, this unit has the potential to add an additional 15 operated Bakken and Three Forks wells to Abraxas’ North Fork inventory.
Abraxas Petroleum Corporation, an independent energy company, engages in the acquisition, exploitation, development, and production of oil and gas properties in the United States. T
Parsley Energy Inc (NYSE:PE)’s shares dropped -2.88% to $16.84.
Parsley Energy Inc (PE) plans to release its first quarter 2015 financial and operating results after the market closes on Tuesday, May 12, 2015. In conjunction with the release, the Company has planned a conference call for Wednesday, May 13, at 11:00 a.m. Eastern Time (10:00 a.m. Central Time).
Parsley Energy, Inc., an independent oil and natural gas company, engages in the acquisition, development, production, exploration, and sale of crude oil and natural gas properties in the Permian Basin located in West Texas and Southeastern New Mexico.
At the end of Friday’s trade, Warren Resources, Inc. (NASDAQ:WRES)‘s shares dipped -2.78% to $1.05.
Warren Resources, Inc. (WRES) will report first quarter 2015 financial results on Thursday, May 7, 2015 by issuing a press release before the market opens and conducting a conference call on that date at 11:00 a.m. Eastern Time. The full text of the release will be accessible at warrenresources.com under “For Investors — News & Events”. The conference call will also be broadcast live over the Internet and can be accessed by registering at warrenresources.com under “For Investors”.
Warren Resources, Inc., an independent energy company, engages in the exploration, development, and production of domestic onshore crude oil and gas reserves.
Ashford Hospitality Trust, Inc. (NYSE:AHT), ended its Friday’s trading session with -2.65% loss, and closed at $8.82.
Ashford Hospitality Trust, Inc. (AHT) declared recently it has accomplished the acquisition of the 124-room Hampton Inn & Suites Gainesville hotel for total consideration of $25.3 million in cash ($204,000 per key). The Company intends to finance the property with about $21.2 million of non-recourse mortgage debt.
The purchase price represents a trailing 12-month cap rate of 8.8% on net operating income and a trailing 10.3x EBITDA multiple. On a forward 12-month basis, the purchase price represents an estimated cap rate of 9.1% on net operating income and an estimated 9.9x EBITDA multiple. On a trailing 12-month basis, the hotel achieved RevPAR of $117.45, with occupancy of 75.6% and Average Daily Rate of $155.38.
Ashford Hospitality Trust, Inc. is a publicly owned real estate investment trust. The firm engages in investment and administration of properties in the hospitality industry. It invests in the real estate markets of the United States. The firm primarily invests in hotels with a focus on the ownership of upper-upscale and upscale full-service and select service hotels in primary, secondary and resort markets. It also invests in mid-scale and luxury hotels.
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