Company Overview and News
Talos Energy Inc (TALO - Free Report) , the operators of the Block 7 consortium and Petroleos Mexicanos (Pemex) have inked a Pre-Unitization Agreement (PUA) related to two areas located offshore Mexico in the prolific Southeast Basin. Earlier, the Ministry of Energy (SENER) gave consent for the PUA. The Block 7 Consortium includes Talos Energy, Sierra Oil and Gas as well as Premier Oil. The area includes certain tracts within the Amoca-Yaxche-03 allocation (allotted to Pemex as part of Round 0) and the adjacent Block 7 production sharing contract (allotted by the National Hydrocarbons Commission as part of the first tender of Round 1).
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Magnolia Oil & Gas Corporation (MGY - Free Report) looks compelling at the moment. Given the company’s strong fundamentals as well as positive estimate revisions, it seems like this is the right time to add the stock to your portfolio.
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Patterson-UTI Energy, Inc.’s (PTEN - Free Report) share price movement has been weak, both in absolute and relative terms. Patterson-UTI’s shares have plunged 22.2% on a year-to-date basis, underperforming the industry’s 3.9% decline.
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Williams Companies, Inc. (WMB - Free Report) recently reported the completion of construction of its major Atlantic Sunrise project. The production and pipeline operator has requested for the final approval of the project by Federal Energy Regulatory Commission (FERC), post which the pipeline will come into service. Importantly, the Atlantic Sunrise natural gas pipeline, worth $3 billion, is an expansion of the company’s Transco pipeline, which is the largest-volume natural gas transmission system in the United States.
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BP plc (BP - Free Report) recently shut down its large crude distillation unit at the Whiting, IN, refinery due to pre-planned maintenance works, per Reuters. The crude distillation unit, Pipestill 12, having a 240,000-barrel per day (BPD) capacity, is expected to be closed through the end of October. The Whiting refinery has a processing capacity of 413,500 BPD.
On Sep 19, Shell Midstream Partners LP (SHLX - Free Report) has been raised to a Zacks Rank #1 (Strong Buy), implying that the stock will significantly outperform the broader U.S. equity market over the next one to three months.
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Reportedly, Chevron Corporation (CVX - Free Report) is ramping up its efforts to unleash a revolution in Australia’s LNG sector by seeking greater collaboration from the industry players. The company intends to develop its Clio-Acme field by sharing infrastructure system with Woodside Petroleum Limited. The field has a domestic gas supply capacity of 50 LNG cargoes a year and 70 terajoules per day.
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Exxon Mobil Corporation (XOM - Free Report) has hired Seadrill Partners LLC’s semi-submersible drilling rig — West Aquarius — to drill a well offshore Canada. The initial agreement is for one firm well and the company has multiple options to extend the contract. Per Seadrill Partners, the firm portion of the contract is valued at about $24 million and is scheduled to commence operations between May and July 2019.
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A subsidiary of Cheniere Energy, Inc. (LNG - Free Report) , Cheniere Marketing, LLC, has inked a 15-year sale and purchase agreement (“SPA”) with Vitol Inc. Per the agreement, Vitol will purchase about 0.7 million tons per annum of liquefied natural gas (“LNG”) from Cheniere Marketing on a free-on-board basis starting in 2018. The purchase price for LNG is indexed to the monthly Henry Hub price, which includes a fee.
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Kosmos Energy Ltd. (KOS - Free Report) completed the earlier announced acquisition of Deep Gulf Energy (“DGE”). The acquisition enabled the company expand the deepwater Atlantic Margin portfolio. DGE collectively comprises Deep Gulf Energy LP, Deep Gulf Energy II, LLC, Deep Gulf Energy III, LLC and related entities. Currently, the company’s assets are concentrated in Africa and South America. The assets in Atlantic Margin are attractive and project an impressive record of increasing production and reserves through infrastructure-led explorations.
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Master limited partnerships (or MLPs) typically hold assets related to oil and natural gas pipelines and storage facilities. Unlike companies, MLPs don’t face taxes at corporate levels. Only unitholders have to bear the tax liability once they get their distributions.
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2018-09-18 - Asif
Overview Rigel Pharmaceuticals is a biotechnology company dedicated to discovering, developing and providing novel small molecule drugs that significantly improve the lives of patients with immune and hematologic disorders, cancer and rare diseases. The company's pioneering research focuses on signaling pathways that are critical to disease mechanisms. The company's first FDA-approved product is TAVALISSE™ (fostamatinib disodium hexahydrate), an oral spleen tyrosine kinase (SYK) inhibitor, for the treatment of adult patients with chronic immune thrombocytopenia who have had an insufficient response to a previous treatment. The company's current clinical programs include Phase 2 studies of fostamatinib in autoimmune hemolytic anemia and IgA nephropathy, and a Phase 1 study for its IRAK program. In addition, Rigel Pharmaceuticals has product candidates in development with partners BerGenBio AS, Daiichi Sankyo, and Aclaris Therapeutics. Since inception, Rigel Pharmaceuticals h...
2018-09-18 - Asif
Overview The company design, develop and sell exoskeleton technology to augment human strength, endurance and mobility. The company's exoskeleton technology serves multiple markets and can be used both by able-bodied users as well as by persons with physical disabilities. Ekso Bionics has sold, rented or leased devices that (a) enable individuals with neurological conditions affecting gait (stroke and spinal cord injury) to rehabilitate and to walk again and (b) allow industrial workers to perform heavy duty work for extended periods. Today, its medical exoskeleton, Ekso GT, is used as a rehabilitation tool to allow physicians and therapists to rehabilitate patients who have suffered a stroke or spinal cord injury. With its unique features designed specifically for hospitals and its proprietary SmartAssist software, Ekso GT allows for the early mobilization of patients, with high step count and high dosage treatments. The intent is to allow the patient’s central nervous syst...
2018-09-18 - Asif
Overview Agile Therapeutics is a forward-thinking women’s healthcare company dedicated to fulfilling the unmet health needs of today’s women. Twirla® and its other current potential product candidates are designed to provide women with contraceptive options that offer greater convenience and facilitate compliance. The company's lead product candidate, Twirla, also known as AG200-15, is a once-weekly prescription contraceptive patch that is at the end of Phase 3 clinical development. Since its inception in 1997, Agile Therapeutics has devoted substantial resources to developing Twirla, building its intellectual property portfolio, business planning, raising capital and providing general and administrative support for these operations. The company incurred research and development expenses of $14.4 million, $20.9 million and $25.6 million during the years ended December 31, 2017, 2016 and 2015, respectively. The company incurred research and development expenses of $2.4 milli...
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