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Stock Market & Financial Investment News

News Breaks
May 5, 2014
06:02 EDTMEMPMemorial Production to acquire oil producing properties in Wyoming for $935M
Memorial Production announced that it has signed a definitive agreement to acquire certain oil producing properties in Wyoming for a purchase price of approximately $935M, subject to customary purchase price adjustments. The transaction has an effective date of April 1, and is expected to close in the third quarter. The acquired properties consist of established tertiary CO2 floods located in two fields in the Bairoil Complex in Sweetwater and Carbon Counties in Wyoming. The Bairoil Complex properties are 100% operated with an average working and net revenue interest of 100% and 88%, respectively. The properties cover approximately 6,800 gross acres and include 140 producing wells and 166 injection wells. The transaction is expected to be immediately accretive to distributable cash flow and net asset value. It is estimated to have proved reserves of approximately 83 MMBbls, current net production of approximately 5.9 MBbls/d, and assets to have high operating margins and moderate capital expenditure requirements.
News For MEMP From The Last 14 Days
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September 15, 2014
09:59 EDTMEMPOn The Fly: Analyst Upgrade Summary
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07:23 EDTMEMPHart Energy to hold a conference
2014 DUG Eagle Ford Conference to be held in San Antonio, California on September 15-17.
07:17 EDTMEMPMemorial Production upgraded to Buy from Neutral at Ladenburg
Ladenburg upgraded Memorial Production to Buy saying the company is well-positioned to increase its distribution through acquisitions and low-risk development. The firm raised its price target for shares to $26 from $19.
September 4, 2014
10:44 EDTMEMPHigh option volume stocks
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September 3, 2014
16:43 EDTMEMPMemorial Production offers 13M common units
UBS Investment Bank, Raymond James, BofA Merrill Lynch, Barclays, Citigroup, Goldman Sachs, Morgan Stanley, RBC Capital Markets and Wells Fargo Securities are acting as joint book-running managers for the offering. MLV & Co., Ladenburg Thalman, Oppenheimer, Sanders Morris Harris and Wunderlich are acting as co-managers for the offering.

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