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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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February 12, 2016
09:59 EDTMEMPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Aegerion (AEGR) downgraded to Underperform from Neutral at BofA/Merrill... Archer Daniels (ADM) downgraded to Hold from Buy at Argus... Bed Bath & Beyond (BBBY) downgraded to Perform from Outperform at Oppenheimer... Best Buy (BBY) downgraded to Perform from Outperform at Oppenheimer... Boeing (BA) downgraded to Neutral from Overweight at JPMorgan... CSX (CSX) downgraded to Market Perform from Outperform at Avondale... Comstock Resources (CRK) downgraded to Neutral from Buy at Ladenburg... EV Energy (EVEP) downgraded to Neutral from Buy at Ladenburg... FNFV (FNFV) downgraded to Market Perform from Outperform at Keefe Bruyette... Flowers Foods (FLO) downgraded to Hold from Buy at Deutsche Bank... Goldcorp (GG) downgraded to Sector Performer from Outperformer at CIBC... Group 1 Automotive (GPI) downgraded to Sector Weight from Overweight at KeyBanc... HSBC cuts Sprint (S) to sell, says competitors may make turnaround difficult... KAR Auction (KAR) downgraded to Neutral from Buy at Goldman... LINN Energy (LINE) downgraded to Sell from Neutral at Citi... LPL Financial (LPLA) downgraded to Market Perform from Outperform at Wells Fargo... Legacy Reserves (LGCY) downgraded to Neutral from Buy at Ladenburg... LinnCo (LNCO) downgraded to Sell from Neutral at Citi... Memorial Production (MEMP) downgraded to Neutral from Buy at Ladenburg... NetApp (NTAP) downgraded to Underweight from Neutral at Atlantic Equities... Netflix (NFLX) downgraded to Market Perform from Outperform at FBR Capital... Nu Skin (NUS) downgraded to Neutral from Buy at Sidoti... Oceaneering (OII) downgraded on multiple headwinds at RBC Capital... Och-Ziff Capital (OZM) downgraded to Neutral from Buy at Compass Point... Stone Energy (SGY) downgraded to Neutral from Buy at Ladenburg... Vanguard Natural (VNR) downgraded to Neutral from Buy at Ladenburg.
07:08 EDTMEMPMemorial Production downgraded to Neutral from Buy at Ladenburg
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January 29, 2016
09:27 EDTMEMPMemorial Resource CEO John Weinzierl resigns to focus on Memorial Production
The board of Memorial Resource (MRD) announced that John Weinzierl will resign as CEO and as a member of the board, effective immediately to focus entirely on Memorial Production Partners (MEMP) as its CEO and chairman, positions he has held since 2011. The board has elected Jay Graham, former Co-CEO of WildHorse Resources II, to replace Weinzierl as MRD's CEO. Graham was also elected to the board, filling the vacancy created by Weinzierl.

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