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News Breaks
November 28, 2012
14:29 EDTREXX, GPOR, PDCEPDC Energy climbs after Gulfport reports Utica well results
Shares of PDC Energy (PDCE) are advancing after Gulfport Energy (GPOR) announced the results of a test of its well in the Utica Shale earlier today. PDC Energy also has a position in the Utica Shale. PDC Energy reported that its well had yielded an average sustained 18 hour rate of 28.5 MMCF per day of natural gas and 300 barrels of condensate per day. On September 20, PDC announced that it was no longer looking for a partner to help it develop its Utica property, but would seek to develop the property on its own. In mid-afternoon trading, PDC rose $1.59, or 4.90%, to $34.01, while Gulfport jumped $5.11, or 16.10%, to $36.84. Rex Energy (REXX), which also has exposure to the Utica Shale, gained 21c, or 1.68%, to $12.73.
News For PDCE;GPOR;REXX From The Last 14 Days
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March 31, 2015
07:24 EDTREXXRex Energy sees Q1 production at midpoint of 190MMcfe/d196 MMcfe/d
Rex Energy is providing an update for its Q1 production, full year 2015 production and operating capital expenditure guidance, which takes into account the new joint venture agreement in the Butler Operated Area. The company expects Q1 production volumes to be at the midpoint of its previously announced guidance of 190MMcfe/d196 MMcfe/d. FY production volumes are expected to range from 185MMcfe/d195MMcfe/d, representing a 23% increase at the midpoint of guidance as compared to 2014 production volumes. In addition, the company expects 2015 operating capital expenditures to be in the range of $135M$145M, a 30% decrease at the midpoint of the updated 2015 operating capital expenditure guidance as compared to the midpoint of the previous operating capital expenditure program of $180M$220M.
07:22 EDTREXXRex Energy approves amendment to senior secured credit facility
Rex Energy's bank group has unanimously approved an amendment to the company's senior secured credit facility. The approved amendment includes a new senior secured debt to EBITDAX covenant of 3.0x and permanently removes the total debt to trailing twelve months EBITDAX covenant. In addition, as part of the semi-annual borrowing base redetermination, the banks have unanimously approved a $350M borrowing base.
07:21 EDTREXXRex Energy enters into joint venture agreement with affiliate of ArcLight
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March 23, 2015
10:00 EDTPDCEOn The Fly: Analyst Downgrade Summary
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07:15 EDTPDCEPDC Energy downgraded to Accumulate from Buy at KLR Group
KLR Group downgraded PDC Energy to Accumulate citing the dilutive impact of the recent equity issuance. The firm cut its price target for shares to $56 from $60.
March 19, 2015
09:20 EDTPDCEOn The Fly: Pre-market Movers
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09:07 EDTPDCEPDC Energy 3.48M share Spot Secondary priced at $51.45
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March 18, 2015
16:21 EDTPDCEPDC Energy files to sell 3.48M shares of common stock
Goldman, Sachs & Co. and J.P. Morgan Securities LLC are acting as the sole underwriters of the offering.
16:16 EDTPDCEPDC Energy files automatic mixed securities shelf

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