Agreement, Development of Gold Mine, Divestitures, Financial Results, and Technical Updates - Research Reports on Chesapeake, Newmont, Continental, PDC Energy and Mosaic
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NEW YORK, August 7, 2014 /PRNewswire/ --
Today, Analysts Review released its research reports regarding Chesapeake Energy Corporation (NYSE: CHK), Newmont Mining Corp. (NYSE: NEM), Continental Resources, Inc. (NYSE: CLR), PDC Energy Inc. (NASDAQ: PDCE) and Mosaic Co. (NYSE: MOS). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/5546-100free.
Chesapeake Energy Corporation Research Reports
On July 29, 2014, Chesapeake Energy Corporation (Chesapeake) announced that it has entered into an agreement with RKI Exploration & Production, LLC (RKI) under which the Company will provide RKI with approximately 137,000 net acres and its interest in 67 gross wells, with an average working interest of 22% in the Powder River Basin (PRB) (Northern Area), where RKI is currently designated operator. In return, RKI will provide Chesapeake with approximately 203,000 net acres and its interest in 186 gross wells, with an average working interest of 48% in the PRB (Southern Area), where the Company is currently designated operator. Under the agreement, in addition to the exchange of acreage, Chesapeake will pay RKI $450 million in cash. According to the Company, the transaction, which is subject to certain closing conditions, is expected to close in August 2014 and upon closing of the acreage exchange, it will operate nearly 100% of its 388,000 net acres in the PRB. The Company also announced that it has agreed to repurchase c.1.1 million preferred shares of CHK Utica for c.$1.3 billion from third-party preferred shareholders. The full research reports on Chesapeake are available to download free of charge at:
http://www.analystsreview.com/Aug-07-2014/CHK/report.pdf
Newmont Mining Corp. Research Reports
On July 29, 2014, Newmont Mining Corp. (Newmont) announced that it is planning to invest in the development of Merian gold mine in Suriname with expected all-in sustaining costs of between $750 per ounce and $850 per ounce in the first five years. The Company expects that the new mine will commence production in late 2016, subject to the receipt of Right of Exploitation from the government of Suriname. The Company stated that in the development of the mine, the total capital investment is approximately $900 million to $1 billion. Further, the Government of Suriname has an option to earn a 25% fully-funded equity ownership stake, including all project capital and operating expenses and an initial earn-in contribution. Newmont informed that Merian mine contains gold reserves of 4.2 million ounces with annual production of around 300,000 to 400,000 ounces of gold over an expected mine life of 11 years. The full research reports on Newmont are available to download free of charge at:
http://www.analystsreview.com/Aug-07-2014/NEM/report.pdf
Continental Resources, Inc. Research Reports
On August 4, 2014, Continental Resources, Inc.'s (Continental) stock moved up 2.64% to end the trading session at $149.15, outperforming the S&P 500 that moved up 0.72% over the same trading session. Continental's stock opened the session at $146.18 and oscillated in the range of $144.63 to $149.52. Over the past three months, the stock has returned 10.71%, outperforming the S&P 500 that returned 2.88% over the same period. The full research reports on Continental are available to download free of charge at:
http://www.analystsreview.com/Aug-07-2014/CLR/report.pdf
PDC Energy Inc. Research Reports
On July 30, 2014, PDC Energy Inc. (PDC Energy) announced that it has entered into an agreement to sell its 50% stake in PDC Mountaineer LLC (PDCM), a Marcellus Joint Venture (JV), to Mountaineer Keystone Energy, LLC (Mountaineer) for approximately $250 million, subject to certain purchase price adjustments. The Company expects net proceeds from the sale of $190 million after its share of JV debt repayment and other working capital adjustments. The Company plans to close the transaction on or about October 15, 2014, subject to customary closing conditions. PDC Energy also announced that it has increased its total acreage position in the Utica Shale to 67,000 net acres from 54,000 net acres. With the said addition, the Company expects its total gross horizontal well inventory to increase to 350 locations from 300 locations. The full research reports on PDC Energy are available to download free of charge at:
http://www.analystsreview.com/Aug-07-2014/PDCE/report.pdf
Mosaic Co. Research Reports
On July 31, 2014, Mosaic Co. (Mosaic) released its Q2 2014 financial results with net sales of $2.4 billion, down 6.8% YoY. During Q2 2014, its Phosphates sales stood at $1.7 billion versus $1.6 billion in Q2 2013, as higher sales volumes offset lower finished product prices, while Potash segment sales were reported at $762 million versus $974 million in Q2 2013 as higher shipment volumes were more than offset by a decline in average realized MOP prices. Net earnings came in at $248.4 million or $0.64 per diluted share, compared to $429.8 million or $1.01 per diluted share in Q2 2013. Larry Stranghoener, Interim CEO said, "We are optimistic about the remainder of 2014 for both of our business units. In the third quarter, we expect strong demand for phosphates and potash, which is expected to drive stable phosphate margins and higher potash prices." The full research reports on Mosaic are available to download free of charge at:
http://www.analystsreview.com/Aug-07-2014/MOS/report.pdf
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