GasLog completes acquisition of three LNG carriers from BG Group GasLog (GLOG) has successfully completed the acquisition of three LNG carriers from an affiliate of BG Group plc (BRGYY), which was previously announced on April 10. This completes the second acquisition of ships from BG by GasLog in 2014. The acquisition of the first three vessels was announced in January and completed in April. The three ships subject to today’s announcement will be chartered back to BG for six-year initial terms on average. The time charters for the three vessels are staggered with one for 5.5 years, one for 6 years and one for 6.5 years, so that the three vessels will not redeliver at the same time. BG has options to extend the term of the time charters for two of the ships for a period of either three or five years at its election.
On The Fly: Analyst Upgrade Summary Today's noteworthy upgrades include: ANI Pharmaceuticals (ANIP) upgraded on valuation at Roth Capital... AbbVie (ABBV) upgraded to Neutral from Sell at Citi... Astec (ASTE) upgraded to Accumulate from Neutral at Global Hunter... Atmel (ATML) upgraded to Strong Buy from Outperform at Raymond James... BAE Systems (BAESY) upgraded to Outperform from Market Perform at Bernstein... BG Group (BRGYY) upgraded on valuation at BMO Capital... Boston Scientific (BSX) upgraded to Buy from Hold at Needham... C.H. Robinson (CHRW) upgraded to Buy from Hold at BB&T... Citi (C) upgraded to Buy from Hold at Jefferies... Diamond Offshore (DO) upgraded to Hold from Sell at Deutsche Bank... Endologix (ELGX) upgraded to Buy from Neutral at BTIG... Infosys (INFY) upgraded to Hold from Sell at Societe Generale... J.C. Penney (JCP) upgraded on confidence in CEO, initiatives at Sterne Agee CRT... Knowles (KN) upgraded to Market Perform from Underperform at FBR Capital... Lexicon (LXRX) upgraded to Hold from Sell at Gabelli... MTN Group (MTNOY) upgraded to Buy from Hold at Deutsche Bank... Natera (NTRA) upgraded to Outperform from Neutral at Wedbush... Omnicell (OMCL) upgraded to Buy from Neutral at Sidoti... RBC Bearings (ROLL) upgraded to Buy from Accumulate at Global Hunter... Raptor Pharmaceuticals (RPTP) upgraded to Perform from Underperform at Oppenheimer... Regal Entertainment (RGC) upgraded to Buy from Neutral at B. Riley... Repsol (REPYY) upgraded on valuation at BMO Capital... Star Bulk Carriers (SBLK) upgraded to Buy from Hold at Deutsche Bank... Stoneridge (SRI) upgraded to Buy from Hold at BB&T... Transocean (RIG) upgraded to Hold from Sell at Deutsche Bank... Vertex (VRTX) upgraded to Buy from Hold at Argus... Wabash (WNC) upgraded to Buy from Accumulate at Global Hunter.
BG acquires three non-operated positions offshore Newfoundland from Repsol BG Group (BRGYY) has acquired three non-operated positions offshore Newfoundland from Repsol (REPYY). This provides the company with access to early stage exploration in a proven prospective basin ahead of the first well being drilled later this year. The blocks are located in the Atlantic Ocean, approximately 200 kilometers from St. John's, Newfoundland. The company's equity stakes range from 10% to 25%. This opportunity is in line with the company's strategic exploration focus to enter new basins.