Closed Offerings, New Agreements, Divestment Plans, and Conference Call Schedule - Analyst Notes on Diamondback, Range, Murphy Oil, Linn Energy and Miller
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NEW YORK, July 3, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Diamondback Energy, Inc. (NASDAQ: FANG), Range Resources Corporation (NYSE: RRC), Murphy Oil Corporation (NYSE: MUR), Linn Energy LLC (NASDAQ: LINE) and Miller Energy Resources, Inc. (NYSE: MILL). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/4411-100free.
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Diamondback Energy, Inc. Analyst Notes
On June 23, 2014, Diamondback Energy, Inc. (Diamondback) announced that its subsidiary, Viper Energy Partners LP (Viper), has closed its initial public offering of 5.75 million common units representing limited partner interests at $26.00 per common unit. Viper informed that the common units issued at closing included 0.75 million common units that were issued pursuant to the full exercise of the underwriters' over-allotment option. Further, the Company reported that common units began trading on the NASDAQ Global Select Market on June 18, 2014 under the ticker symbol "VNOM." Viper intends to distribute the net proceeds from the offering to Diamondback. The full analyst notes on Diamondback are available to download free of charge at:
http://www.analystsreview.com/Jul-03-2014/FANG/report.pdf
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Range Resources Corporation Analyst Notes
On June 26, 2014, Range Resources Corporation (Range) announced that it has signed additional transportation and marketing agreements to support the Company's future natural gas and ethane production growth. Under the agreements, the Company will act as a foundation shipper on the ET Rover pipeline; two LNG supply agreements covering supply of natural gas to other LNG facilities; and two additional fixed term ethane sales agreements. "Range's marketing team continues to expand our marketing capabilities for natural gas and ethane. The Rover pipeline provides Range flexibility in selling natural gas to high demand markets in Canada and the Gulf Coast, while the LNG and ethane supply agreements further diversify and strengthen our customer base with industry leading companies. Importantly, these various contracts support our plan to grow production by 20% to 25% for many years giving us base contracts in place with leading companies in key areas that allow for possible future expansion," said Jeff Ventura, President and CEO of Range. The full analyst notes on Range are available to download free of charge at:
http://www.analystsreview.com/Jul-03-2014/RRC/report.pdf
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Murphy Oil Corporation Analyst Notes
On June 26, 2014, Murphy Oil Corporation (Murphy Oil) announced that it intends to release its Q2 2014 earnings results on the afternoon of July 30, 2014. On the following day, July 31, 2014, the Company has also scheduled a conference call at 12:00 p.m. CDT to discuss the results. The full analyst notes on Murphy Oil are available to download free of charge at:
http://www.analystsreview.com/Jul-03-2014/MUR/report.pdf
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Linn Energy LLC Analyst Notes
On June 30, 2014, LINN Energy LLC (Linn Energy), along with its subsidiary Linn Energy Finance Corp., announced the closing of the offer to exchange any and all of its $1.8 billion outstanding principal amount of 6.250% Senior Notes due 2019 for an equal amount of new 6.250% Senior Notes due 2019. The Company informed that the exchange offer expired at 12:01 a.m., New York City time, on June 28, 2014. The full analyst notes on Linn Energy are available to download free of charge at:
http://www.analystsreview.com/Jul-03-2014/LINE/report.pdf
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Miller Energy Resources, Inc. Analyst Notes
On June 24, 2014, Miller Energy Resources, Inc. (Miller) announced its intentions to divest its Tennessee assets, for which it is presently engaged in strategic discussions. Additionally, the Company has also commenced implementation of an internal restructuring and cost reduction program designed to reduce annual general and administrative expenses by $3 million to $5 million. "The targeted reduction is aggressive, but, we think, appropriate and achievable, driven in large part by the elimination of our Tennessee operations and the favorable resolution of several outstanding lawsuits and the recent proxy contest," said Scott M. Boruff, CEO of Miller. "While we still believe Tennessee has significant growth potential, our capital is clearly better allocated to our Alaskan operations and the investment opportunities that exist there." The full analyst notes on Miller are available to download free of charge at:
http://www.analystsreview.com/Jul-03-2014/MILL/report.pdf
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