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Stock Market & Financial Investment News

News Breaks
March 5, 2014
10:37 EDTEGY, SFY, EPM, MPOMidstates Petroleum rises after earnings delayed for 'positive' developments
Shares of Midstates Petroleum (MPO) are increasing after the company rescheduled its fourth quarter earnings release, citing positive developments in its discussions with its banks. WHAT'S NEW: Midstates Petroleum announced last night that the company has rescheduled its fourth quarter earnings release to Tuesday, March 11 after the close of trading from Tuesday, March 4. Midstates noted that, as previously disclosed, the company is pursuing "a number of different options to streamline its portfolio," including sales of assets, joint ventures, and other possible farm-out arrangements. The company said it is in discussions with its commercial banking group to modify its debt structure to facilitate implementing such actions and Midstates added that it will discuss these "positive developments" during its rescheduled conference call. The actions currently in progress do not include additional equity or long-term debt issuance, Midstates noted. PRICE ACTION: During mid-morning trading, shares of Midstates Petroleum rose 49c, or 10.77%, to $5.04. OTHERS TO WATCH: Oil and gas exploration and production companies with market capitalization similar to Midstates Petroleum include Evolution Petroleum (EPM), Swift Energy (SFY), and VAALCO Energy (EGY).
News For MPO;EPM;SFY;EGY From The Last 14 Days
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February 26, 2015
10:26 EDTSFYSwift Energy says will take steps if commodity prices continue to languish
Says headcount down 25% since early 2014, which equates to $15M-$20M in annual savings. Says will take additional steps if commodity prices continue to languish. Says current commodity backdrop gives company opportunity to become more efficient in operations. Says if commodity costs continue to languish for extended period of time, says will most likely see further cost reductions. Comments made on the Q4 earnings conference call. Swift Energy is up nearly 12% in morning trading to $3.18.
08:10 EDTEPMEvolution Petroleum and Denbury Resources sign reversal of suspended revenue
Evolution Petroleum (EPM) and Denbury (DNR) executed an agreement under which Denbury will reverse the previously disclosed suspension of 2.89% of Evolution's overriding royalty interest revenues and will release to Evolution amounts previously suspended totaling approximately $712K Denbury further agreed not to suspend any future revenues attributable to any of Evolution's revenue interests, except under limited circumstances, and will limit any cash calls to amounts needed to fund near term capital expenditures. This agreement does not settle any of the outstanding litigation matters with Denbury, including their counterclaim related to the net revenue interest conveyed in the 2006 Purchase and Sale Agreement. The litigation is continuing and currently scheduled for trial in July 2015.
08:08 EDTEPMEvolution Petroleum to proceed with NGL plant in Delhi FieldEvolution Petroleum
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06:07 EDTSFYSwift Energy: Majority of 2015 capital to be deployed in Eagle Ford
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06:07 EDTSFYSwift Energy targets FY15 production levels of 11.4-11.6 MMBoe
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06:06 EDTSFYSwift Energy targets Q1 production of 2.92-2.97 MMBoe
The company is targeting first quarter production levels of 2.92 to 2.97 MMBoe, including 11.1 to 11.2 Bcf of natural gas production, 0.65 to 0.67 MMBbl of crude oil production, and 0.42 to 0.44 MMBbl of natural gas liquids production. This level of production is based on $30M-$35M in capital expenditures for the quarter.
06:06 EDTSFYSwift Energy reports Q4 production of 3 MMBoe
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06:06 EDTSFYSwift Energy reports Q4 EPS (25c), consensus (28c)
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February 12, 2015
08:19 EDTEPMEvolution Petroleum sees dividend rate growth likely in the long term
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