On Tuesday, Precision Drilling Corp (USA) (NYSE:PDS)’s shares declined -5.91% to $6.69.
Precision Drilling Corp (USA) (PDS) declared the successful election of Steven Krablin as a member of the Company’s board of directors. Mr. Krablin was formerly President and Chief Executive Officer of Houston-based T-3 Energy Services, Inc. from March, 2009, until the sale of the company in January, 2011, and presently serves on the boards of three U.S. public companies. Mr. Krablin will be joining the audit committee and the human resources and compensation committee of the board in addition to becoming a director. “I am happy to welcome Steve to our board and could not be happier that he has agreed to assume this role. Steve brings enormous technical and planned experience having served in several leadership positions within the oil and gas industry and his insights and direction should further strengthen the Precision board,” said Kevin Neveu, President and Chief Executive Officer of the Company.
Precision Drilling Corporation provides oil and natural gas drilling and related services and products. The company operates through two segments, Contract Drilling Services; and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.
Bellatrix Exploration Ltd (NYSE:BXE)’s shares dropped -5.84% to $2.90.
Bellatrix Exploration Ltd (BXE) declared that it has closed its private offering of US$250 million of 8.500% senior unsecured notes due 2020 (the “notes”). Bellatrix intends to use the net proceeds from the note offering to partially repay borrowings outstanding under its bank credit facility, thereby strengthening the Company’s capital structure and increasing the Company’s liquidity.
In accordance with the terms of the Company’s bank credit facility, closing of the note offering will result in an automatic reduction of the Company’s borrowing base from $725 million to $667 million . Upon completion of the note offering, application of the net proceeds of $293 million , and the foregoing automatic borrowing base reduction, the Company’s net liquidity raised by about $235 million .
Bellatrix Exploration Ltd. engages in the acquisition, exploration, development, and production of oil and natural gas reserves in the provinces of Alberta, British Columbia, and Saskatchewan. Its principal oil and natural gas properties located in the areas of Ferrier, Willesden Green, Greater Pembina, Strachan, and Harmattan, Alberta. As of December 31, 2014, the companys proved undeveloped reserves comprised of a total of about 356,650 million cubic feet of natural gas; 7,975.8 thousand barrels of oil; and 17,508.0 thousand barrels of natural gas liquids.
At the end of Tuesday’s trade, Pan American Silver Corp. (USA) (NASDAQ:PAAS)‘s shares dipped -5.68% to $9.22.
Pan American Silver Corp. (USA) (PAAS) regrets to report that two employees sustained fatal injuries in a single vehicle accident involving a water truck at the Company’s Manantial Espejo mine in Santa Cruz, Argentina, on Saturday, May 23, 2015.
Emergency crews and local authorities were right away notified and attended the scene. Investigations into the cause of the incident are ongoing and operations at the mine remain temporarily curtailed.
Pan American Silver Corp., together with its auxiliaries, operates and develops, and explores for silver producing properties and assets in Mexico, Peru, Argentina, and Bolivia.
Prima Biomed Ltd. (NASDAQ:PBMD), ended its Tuesday’s trading session with -5.71% loss, and closed at $2.97.
Prima Biomed Ltd. (PBMD) declared that the final CVac data from the Phase II CAN-003 ovarian cancer clinical trial has shown a trend for a clinically meaningful improvement in Overall Survival (“OS”) over standard of care (“SOC”) in second remission patients.
In the group of second remission patients (n=20), the median for standard of care (“SOC”) patients was 25.53 months, which is compriseent with current literature. By comparison, for patients treated with CVac a median has still not yet been reached after 42 months with study completion and closure. This suggests a striking improvement with a hazard ratio1 = 0.17 (95%CI: 0.02, 1.44; p=0.07). This implies at least a 16 months median survival advantage for second remission patients when treated with CVac.
Prima BioMed Ltd. researches, develops, and commercializes medical biotechnology products in Australia. The company develops immunocellular therapeutic products for the treatment of cancer. Its lead product is CVac, an autologous dendritic cell-based product presently in clinical trials for ovarian and pancreatic cancer patients. Prima BioMed Ltd. is based in Sydney, Australia.
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