On Tuesday, Shares of Pengrowth Energy Corp (USA) (NYSE:PGH), gained 4.63% to $1.13.
Pengrowth Energy Corporation, declared its financial and operating results for the three and six months ended June 30, 2015. The Company continued to deliver on its commitments, increasing its production, providing stable funds flow and moving to enhance the strength of its balance sheet.
Pengrowth achieved solid production growth in the second quarter of 2015, with daily production averaging 74,113 barrels of oil equivalent (boe) per day, a seven percent enhance from the first quarter of 2015. Driving this growth was the steady ramp-up of production from its Lindbergh thermal oil project. Since commencing steaming operations in mid-December of 2014, production rates from Lindbergh have raised substantially, surpassing the 12,500-barrel (bbl) ber day nameplate capacity of the facility. In the second quarter, Lindbergh production rates averaged about 10,900 bbl per day at an average Instantaneous Steam Oil Ratio (ISOR) of 2.5x. Current production rates for the five-day period ended July 27, 2015 at Lindbergh were about 14,600 bbl per day at an ISOR of 2.06x. The current outlook for Lindbergh remains unchanged with production rates predictable to reach 16,000 bbl per day by the end of the year. Based on the second quarter operating netbacks, Lindbergh is predictable to remain cash flow positive at prices as low as US $30 WTI crude oil, at current heavy oil differentials and foreign exchange rates.
Despite the volatility in commodity prices, Pengrowth delivered stable funds flow from operations, with second quarter funds flow of $111.5 million ($0.21 per share), essentially unchanged contrast to first quarter 2015 funds flow of $113.0 million ($0.21 per share), largely as a result of the stability offered through Pengrowth’s risk administration program. The strength of Pengrowth’s risk administration program is evidenced by the fact that second quarter funds flow declined eight percent contrast to the same period in 2014, while oil prices declined 44 percent and natural gas prices declined 40 percent.
Pengrowth Energy Corporation engages in the acquisition, development, exploration, and production of oil and natural gas assets in the Alberta, British Columbia, Saskatchewan, and Nova Scotia provinces in Canada.
Shares of Ritchie Bros. Auctioneers (USA) (NYSE:RBA), declined -1.29% to $27.51, during its last trading session.
Ritchie Bros., will sell more than 200 cranes plus related rigging equipment at unreserved auctions in September and October. Crane highlights comprise 60+ rough terrain cranes, 40+ all terrain cranes, 35 hydraulic truck cranes, 20 crawler cranes, 10+ carry deck cranes, 10+ tower cranes and more. All items will be sold without minimum bids or reserve prices. Auctions with large selections of cranes comprise Houston, TX, USA (August 26 – 27); Edmonton, AB, Canada (Sep 9 – 11); Ocaña, Spain (Sep. 16 – 17); Fort Worth, TX, USA (Sep. 23 – 24); Moerdijk, The Netherlands (Sep. 24 – 25); Salt Lake City, UT, USA (Sep. 30); Caorso, Italy (Oct. 1); and Columbus, OH, USA (Oct. 6).
“We have an excellent selection of quality cranes from well-known companies across North America and Europe accessible in our September and October auctions,” said Terry Dolan, President (USA & Latin America), Ritchie Bros. “We conducted a massive crane auction in Casper, Wyoming in March—selling 38 cranes for US$35+ million. Following that success, a number of top companies contacted us to sell their cranes, making now a great time for buyers to get the cranes they need for forthcoming projects. As always, all equipment will be sold without minimum bids or reserve prices.”
Ritchie Bros. Auctioneers Incorporated, together with its auxiliaries, sells industrial equipment and other assets for the construction, agricultural, transportation, energy, mining, forestry, material handling, marine, and real estate industries through its unreserved auctions and online marketplaces.
At the end of Tuesday’s trade, Shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO), lost -0.72% to $27.63.
2K, declared the in-game soundtrack details for WWE 2K16, the forthcoming release in the flagship WWE video game franchise. The soundtrack will feature 11 unique tracks from established and emerging artists that transcend multiple genres, counting alternative, hip-hop, classic rock, heavy metal, country and electronic dance. The full WWE 2K16 soundtrack was revealed exclusively during Release on Beats 1 on Apple Music and is accessible now for streaming at http://apple.co/1DSFmcf. WWE 2K16 is presently planned for release on October 27, 2015 in North America and October 30, 2015 internationally for Xbox One and Xbox 360, in addition to the PlayStation 4 and PlayStation 3 computer entertainment systems.
Take-Two Interactive Software, Inc. develops, publishes, and markets interactive entertainment for consumers worldwide. The company offers its products under the Rockstar Games and 2K labels. It develops and publishes action/adventure products under the Grand Theft Auto, Max Payne, Midnight Club, and Red Dead names through developing sequels; offering downloadable episodes, and content and currency; and releasing titles for smartphones and tablets.
Finally, Invesco Mortgage Capital Inc (NYSE:IVR), ended its last trade with -0.60% loss, and closed at $13.16.
Invesco Mortgage Capital Inc., declared financial results for the quarter ended June 30, 2015, reporting core earnings of $0.41 per common share and book value per diluted common share of $18.62. Second quarter core earnings reflect lower interest income and contribution to earnings from unmerged real estate joint ventures relative to first quarter 2015. Interest income was primarily influenced by faster prepayment speeds, higher amortization, and reinvestment of principal repayments into assets with lower yields.
“Although market conditions weakened in the second quarter, our efforts to moderate risk preserved capital. Our 1.1% decline in book value per share and 3.7% economic return year to date rank among the best in the industry,” said Richard King, President and CEO. During the six months ended June 30, 2015, IVR declared dividends totaling $0.90 per common share and maintained a relatively stable book value of $18.62 per diluted common share as compared to $19.37 last quarter, $18.82 at year-end 2014 and $17.97 at the end of 2013.
During the second quarter of 2015, the Company reinvested cash flow into Agency Hybrid ARMs and closed two commercial real estate loans totaling $71 million. “We believe our company is well positioned for the current market environment and to benefit from improving real estate fundamentals,” said Mr. King.
Invesco Mortgage Capital Inc., a real estate investment trust, focuses on investing in, financing, and managing residential and commercial mortgage-backed securities and mortgage loans. It invests in residential mortgage-backed securities for which a U.S. government agency guarantees payments of principal and interest on the securities; residential mortgage-backed securities that are not issued or guaranteed by a U.S. government agency; commercial mortgage-backed securities; residential and commercial mortgage loans; and other real estate-related financing arrangements.
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