Company Overview and News
Good day, ladies and gentlemen, and welcome to the Penn Virginia Corporation webcast. [Operator Instructions] As a reminder, today's conference is being recorded. (8-0)
NEW YORK (Reuters) - Distressed debt investors in U.S. oil and gas companies are turning into activist shareholders and pushing for more deals in the sector to boost the value of energy holdings they snapped up during the oil market slump. (40-4)
* Penn Virginia Corp - co also announced that borrowing base under revolving credit facility increased from $200 million to about $238 million (8-0)
The following slide deck was published by Penn VA Corp New in conjunction with this event. (8-0)
SeaDrill Limited (SDRL - Free Report) , which has been grappling withbankruptcy issues of late,recently announced the completion of the amendment of three credit facilities. This move was in line with the company’s objective to protect its subsidiary SeadrillPartners LLC from going bankrupt. Following the announcement, units of Seadrill Partners rallied 17.98% to eventually close at $3.15 on Aug 17.
The following slide deck was published by Penn VA Corp New in conjunction with this event.
Domestic oil and gas explorer Whiting Petroleum Corporation (WLL - Free Report) ) recently inked a $500 million deal to divest its Fort Berthold assets in North Dakota to a private explorer RimRock Oil & Gas Williston, LLC. The deal will help Whiting Petroleum to reduce debt and streamline its portfolio.
Similar to wise buying decisions, exiting certain underperformers at the right time helps maximize portfolio returns. Selling off losers can be difficult, but if both the share price and estimates are falling, it could be time to get rid of the security before more losses hit your portfolio.
Brazil's state-run energy giant Petroleo Brasileiro S.A., or Petrobras (PBR - Free Report) announced second-quarter earnings per ADR of 8 cents, lagging the Zacks Consensus Estimate of 15 cents.
Good day, ladies and gentlemen, and welcome to the Penn Virginia Corporation’s Second Quarter Earnings Call. [Operator Instructions] As a reminder, this program is being recorded. And now I’d like to introduce your host for today’s program, John Brooks, Chief Operating Officer and Interim Principal Executive Officer. Please go ahead.
The following slide deck was published by Penn Virginia Corporation in conjunction with their 2017 Q2 earnings call.
Midstream partnership Cheniere Energy Partners LP Holdings LLC (CQH - Free Report) is expected to release second-quarter 2017 results around Tuesday, Aug 8.
Pacific Drilling SA, Luxembourg, stung by lingering problems in the deepwater oil and gas industry, raised the possibility of bankruptcy in its report of second-quarter financial results.
Oil and gas exploration company, Penn Virginia Corporation (PVAC - Free Report) recently announced that it has inked an agreement with Devon Energy Corporation (DVN - Free Report) , a larger rival from the same industry, to buy Eagle Ford shale assets from the latter for $205 million.
The Petroleum Services Association of Canada (PSAC) has updated its 2017 Canadian Drilling Activity Forecast to reflect an increase in its projected total number of wells to be drilled during the year to 7,200 from 6,680.
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