Completed Acquisitions, Executive Leadership Promotions, Status Reports, and Expansions - Analyst Notes on Athlon Energy, AK Steel, Hercules Offshore, Access Midstream and W&T Offshore
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NEW YORK, June 10, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Athlon Energy Inc. (NYSE: ATHL), AK Steel Holding Corporation (NYSE: AKS), Hercules Offshore, Inc. (NASDAQ: HERO), Access Midstream Partners, L.P. (NYSE: ACMP) and W&T Offshore Inc. (NYSE: WTI). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/3536-100free.
Athlon Energy Inc. Analyst Notes
On June 3, 2014, Athlon Energy Inc. (Athlon Energy) announced the completion of its previously announced acquisitions in the northern Midland Basin for an aggregate purchase price of $873 million in cash. The Company stated that, as previously announced, final purchase prices are subject to further customary post-closing adjustments. Athlon Energy informed that the acquisitions include 23,500 net acres in the counties of Martin, Upton, Andrews, and Glasscock, with estimated current net production of approximately 4,800 barrels of oil equivalent per day (BOE/d), 100% operated, net-proved reserves of 31 Million Barrels of Oil Equivalent (MMBOE) (39% PD), and a total estimated net reserve potential of over 250 MMBOE. Athlon Energy stated that the acquisitions were funded by the Company proceeds from its recently completed offerings of common stock and senior unsecured notes. The full analyst notes on Athlon Energy are available to download free of charge at:
http://www.analystsreview.com/Jun-10-2014/ATHL/report.pdf
AK Steel Holding Corporation Analyst Notes
On May 30, 2014, AK Steel Holding Corporation (AK Steel) announced that its Board of Directors has approved the promotion of its following Executive Directors: David C. Horn as Executive Vice President, Chief Legal and Administrative Officer, and Secretary; Roger K. Newport as Senior Vice President, Finance and CFO; Kirk W. Reich as Senior Vice President, Manufacturing; Joseph C. Alter as Vice President, General Counsel and Chief Compliance Officer; and Renee S. Filiatraut as Vice President, Litigation, Labor and External Affairs. AK Steel informed that the said executive promotions are effective as of May 30, 2014. "The promotions announced today will further strengthen AK Steel's top leadership team and position AK Steel well for the future," said James L. Wainscott, Chairman, President and CEO of AK Steel. "I look forward to the many contributions that each Executive Officer will make to the company's future success." The full analyst notes on AK Steel are available to download free of charge at:
http://www.analystsreview.com/Jun-10-2014/AKS/report.pdf
Hercules Offshore, Inc. Analyst Notes
On May 20, 2014, Hercules Offshore, Inc. (Hercules Offshore) announced that it has published the May Fleet Status Report, which includes its Offshore Rig Fleet Status as of May 20, 2014. The Company noted that the report contains detailed contract information for each of the Hercules Offshore's drilling rigs. According to the Company, the report also covers the Hercules Offshore Liftboat Fleet Status Report, which includes information by liftboat class for April 2014, with revenue per day and operating days. The report is available on the Company's website. The full analyst notes on Hercules Offshore are available to download free of charge at:
http://www.analystsreview.com/Jun-10-2014/HERO/report.pdf
Access Midstream Partners, L.P. Analyst Notes
On May 12, 2014, Access Midstream Partners, L.P. (Access Midstream) announced Utica East Ohio (UEO) midstream service complex's major expansion in eastern Ohio, which will increase UEO's nameplate capacity to one billion cubic feet per day (bcf/d) and allows for a processing capacity of over 1.1 bcf/d. Access Midstream informed that UEO is a joint venture which is owned 49% by the Company, 30% by M3 Midstream LLC and 21% by EV Energy Partners, L.P. According to the Company, new commitments from new and existing customers are expected to increase UEO's ultimate throughput by 70% over existing commitment levels. Access Midstream added that, the UEO expansion will include the construction of a second processing train at the Leesville, Ohio facility and extension of an existing high-pressure pipeline from UEO's Harrison Hub to Cardinal Gas Services' (CGS) Archer Compression Facility in Harrison County. The full analyst notes on Access Midstream are available to download free of charge at:
http://www.analystsreview.com/Jun-10-2014/ACMP/report.pdf
W&T Offshore Inc. Analyst Notes
On May 20, 2014, W&T Offshore Inc. (W&T Offshore) announced that W & T Energy VI, LLC (Energy VI), its wholly owned subsidiary, has completed the acquisition of exploration and production properties in the deepwater of the Gulf of Mexico from Woodside Energy (USA) Inc. (Woodside). According to the Company, the transaction includes a 20% non-operated working interest in the producing Neptune Field and all of Woodside's interest in 24 deepwater exploration blocks. The Company stated that the purchase price is $51 million, subject to customary post-effective date adjustments, as well as the assumption of any related asset retirement obligations. W&T Offshore noted that it funded the acquisition with available cash on hand and the revolving credit facility. The full analyst notes on W&T Offshore are available to download free of charge at:
http://www.analystsreview.com/Jun-10-2014/WTI/report.pdf
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