Dividends, Public Offering Pricing, Agreements, Borrowing Base Increases and Share Repurchases - Analyst Notes on Anadarko, Matador Resources, Bonanza Creek Energy, Sanchez Energy and Murphy Oil
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NEW YORK, May 29, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Anadarko Petroleum Corporation (NYSE: APC), Matador Resources Company (NYSE: MTDR), Bonanza Creek Energy, Inc. (NYSE: BCEI), Sanchez Energy Corporation (NYSE: SN) and Murphy Oil Corporation (NYSE: MUR). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/3060-100free.
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Anadarko Petroleum Corporation Analyst Notes
On May 13, 2014, The Board of Directors of Anadarko Petroleum Corporation (Anadarko) declared a quarterly cash dividend of $0.27 per share on the Company's common stock, up 50% from the previous quarterly cash dividend. According to the Company, the dividend is payable on June 25, 2014 to stockholders of record at the close of business on June 11, 2014. "Today's announcement marks the second significant increase in our common dividend in less than a year, as we continue to focus on enhancing value for our shareholders," said, Anadarko's Executive Vice President, Finance and CFO, Bob Gwin. The full analyst notes on Anadarko are available to download free of charge at:
http://www.analystsreview.com/APC.pdf/Register
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Matador Resources Company Analyst Notes
On May 23, 2014, Matador Resources Company (Matador Resources) announced that it has priced an underwritten public offering of 7.5 million shares of its common stock. The Company expects total estimated proceeds from the offering before related expenses to be c.$182 million. Matador Resources stated that it intends to use the net proceeds from the offering to fund a portion of its capital expenditures, including to continue to operate a fourth rig in the Permian Basin throughout 2014. The Company informed that this allows Matador Resources to operate two drilling rigs each for the exploration and development of acreage in the Eagle Ford shale play and two drilling rigs for exploration and development of its acreage in the Wolfcamp and Bone Spring plays in the Permian Basin. The full analyst notes on Matador Resources are available to download free of charge at:
http://www.analystsreview.com/MTDR.pdf/Register
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Bonanza Creek Energy, Inc. Analyst Notes
On May 22, 2014, Bonanza Creek Energy, Inc. (Bonanza Creek Energy) announced multiple transactions: in the first one the Company entered into a definitive purchase agreement with a private company to acquire additional leasehold interests in Weld County, Colorado in the Wattenberg Field; in the second one Bonanza Creek Energy entered into an agreement to secure dedicated space on the White Cliffs pipeline and in the third one the Company increased borrowing base on its revolving credit facility by $75 million to $525 million. Bonanza Creek Energy stated that for Wattenberg Field acquisition, the Company agreed to pay $175.5 million in cash and issue up to 1.1 million shares of stock for assets, with the transaction expected to close early in Q3 2014 with an effective date of June 1, 2014. According to the Company, the White Cliff Pipeline Agreement would be a five year commitment that will provide flow assurance for the Company's Wattenberg Field barrels, with individual barrels priced at NYMEX less $9.20. The full analyst notes on Bonanza Creek Energy are available to download free of charge at:
http://www.analystsreview.com/BCEI.pdf/Register
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Sanchez Energy Corporation Analyst Notes
On May 21, 2014, Sanchez Energy Corporation (Sanchez Energy) announced a definite agreement to purchase operated assets (which will be named Catarina) in the Eagle Ford trend of South Texas, from wholly-owned subsidiaries of Royal Dutch Shell plc for approximately $639 million in cash. Sanchez Energy informed that the effective date of the agreement is January 1, 2014. According to the Company, these assets, which comprises of 60 MMBOE (Million Barrels of Oil Equivalent) of proved reserves and 24,000 BOE/D (Barrels of Oil Equivalent per Day) of average Q1 2014 production, are expected to bring total Company position in the Eagle Ford to approximately 226,000 acres with up to 3,000 potential drilling locations and average Q1 2014 pro forma production of approximately 42,800 BOE/D. The full analyst notes on Sanchez Energy are available to download free of charge at:
http://www.analystsreview.com/SN.pdf/Register
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Murphy Oil Corporation Analyst Notes
On May 20, 2014, Murphy Oil Corporation (Murphy Oil) announced that it entered into a variable term, capped accelerated share repurchase transaction (ASR) with Wells Fargo Bank, National Association to repurchase an aggregate $125 million of the Company's common stock. According to the Company, total aggregate number of shares of the Company's common stock to be repurchased pursuant to the ASR will be determined by reference to the Rule 10b-18 volume-weighted price of the Company's common stock, minus the fixed discount over the ASR term subject to a minimum number of shares. The Company added that it expects ASR to be completed in time not exceeding three months following execution. Murphy Oil informed that all shares of the Company's common stock delivered under the ASR will be immediately retired or converted to treasury shares. The full analyst notes on Murphy Oil are available to download free of charge at:
http://www.analystsreview.com/MUR.pdf/Register
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