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Stock Market & Financial Investment News

News Breaks
April 16, 2014
19:03 EDTEND, SMEndeavour settles litigation with SM Energy
Endeavour (END) has reached a settlement with SM Energy (SM) regarding litigation filed against Endeavour in December 2011. Endeavour will pay SM Energy $5M and issue a note for $4.5M. The note will be paid in three graduated payments beginning in twelve months. Endeavour has also agreed to issue warrants valued at $3.75M (approximately 2.13M shares with a strike price of $5.29.) The total settlement expense to be recorded will be $19.25M, which includes deposits of $6M paid prior to the execution of the agreements.
News For END;SM From The Last 14 Days
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February 24, 2015
17:37 EDTSMSM Energy estimate of proved reserves as of December 31, 2014, 547.7 MMBOE
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17:36 EDTSMSM Energy sees FY15 production 60.4 to 63.5 MMBOE
Based on the capital budget and program, SM Energy anticipates full-year 2015 production to range from 60.4 to 63.5 MMBOE (165 - 174 MBOE/d). The midpoint of the company's provided guidance represents annual production growth of approximately 12% year over year. Production for the first quarter of 2015 is expected to be essentially flat to the fourth quarter of 2014, with production declining approximately 1% per quarter for the remainder of the year due to the reduction in rig activity and deferral of well completions throughout the year. The company's production mix for 2015 is expected to be similar to that of 2014.
17:35 EDTSMSM Energy sees FY15 CapEx $1.2B, down 43% from FY14 levels, ex-acquisitions
17:34 EDTSMSM Energy reports Q4 adjusted EPS $1.05, consensus $1.10
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