Sale of Assets, Acquisition, Suppliers Recognition, and Quarterly Earnings - Research Reports on Chesapeake, Phillips 66, Newmont, EQT and Core
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NEW YORK, October 28, 2014 /PRNewswire/ --
Today, Analysts Review released its research reports regarding Chesapeake Energy Corporation (NYSE: CHK), Phillips 66 (NYSE: PSX), Newmont Mining Corporation (NYSE: NEM), EQT Corporation (NYSE: EQT) and Core Laboratories NV (NYSE: CLB). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/7492-100free.
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Chesapeake Energy Corporation Research Reports
On October 16, 2014, Chesapeake Energy Corporation (Chesapeake) announced the sale of its assets in the Southern Marcellus Shale and a portion of the Eastern Utica Shale in West Virginia to Southwestern Energy Company (Southwestern) for c.$5.4 billion. As per the Company, it has agreed to sell around 413,000 net acres and nearly1,500 wells in Northern West Virginia and Southern Pennsylvania and the transaction is expected to close in Q4 2014, subject to certain customary closing conditions, including the receipt of third-party consents. Doug Lawler, Chesapeake's CEO, commented "It's important to note that this transaction has no impact on our expected growth profile or on our views around maintaining a disciplined capital program. We expect our full-year production guidance for 2015 to remain in the range of 7-10% growth from 2014 levels adjusted for asset sales." The full research reports on Chesapeake are available to download free of charge at:
http://www.analystsreview.com/Oct-28-2014/CHK/report.pdf
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Phillips 66 Research Reports
On October 22, 2014, Phillips 66 Partners LP (PSXP) announced that it has signed an agreement with its owner and operator - Phillips 66 to acquire two newly constructed crude oil rail-unloading facilities located in Linden, New Jersey, and Ferndale, Washington for $330 million. In addition to this, PSXP will also purchase certain assets associated with the Cross-Channel Connector Pipeline for an extra $10 million. As reported by the Company, the acquisition price for the rail-unloading facilities represent approximate 10-times multiple of those facilities' forecasted next 12 months' EBITDA. PSXP will finance the acquisition with borrowings under its revolving credit facility of $28 million, assumption of a five-year $244 million note payable to a subsidiary of Phillips 66, and the issuance to Phillips 66 of 1,066,412 common and 21,764 general partner units valued at $68 million. The transaction is expected to close in early December 2014. The full research reports on Phillips 66 are available to download free of charge at:
http://www.analystsreview.com/Oct-28-2014/PSX/report.pdf
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Newmont Mining Corporation Research Reports
On October 20, 2014, Newmont Mining Corporation (Newmont) acknowledged four of its suppliers as Suppliers of the Year, for their exceptional performance across cost, quality, safety and sustainability criteria from a global network of over 15,000 suppliers. The four suppliers of the year 2014 were: Liebherr, supplier of heavy mobile mining equipment in Africa; Toll, a supplier of transportation, logistics and freight consolidation services in Australia; Mill Direct Services, a supplier of steel mill liners in North America and Exsa S.A., a supplier of explosives and blasting services for Yanacocha in South America. The full research reports on Newmont are available to download free of charge at:
http://www.analystsreview.com/Oct-28-2014/NEM/report.pdf
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EQT Corporation Research Reports
On October 23, 2014, EQT Corporation (EQT) announced its Q3 2014 financial results. Consolidated operating revenues of EQT increased 20.7% YoY to $578.7 million. For the quarter, the Company's business segment - EQT Production had sales volume of 123.3 Billions of Cubic Feet Equivalent (Bcfe), up 25% YoY, due to increased production from the Marcellus/Upper Devonian plays. The Company's and its subsidiaries net income came in at $98.6 million, up 11.7% YoY with a diluted EPS of $0.65, up 12.1% YoY. The Company also provided guidance for the year 2014, wherein it expects its sales volume to be in the range of 465 - 470 Bcfe, and its 2014 Natural gas liquids volume guidance is 6,650 - 6,750 Mbbls. The full research reports on EQT are available to download free of charge at:
http://www.analystsreview.com/Oct-28-2014/EQT/report.pdf
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Core Laboratories NV Research Reports
On October 22, 2014, Core Laboratories NV (Core) reported its Q3 2014 earnings. The net income for the quarter came in at $66.7 million, up 7.8% YoY with a diluted EPS of $1.50 as compared to $1.35 in Q3 2013. As per the Company, its improved year-over-year results reflect Core's growth strategies of adding new technologies and services, while continuing to focus on characterizing reservoir quality for emerging unconventional resource plays in North America and initiating enhanced oil recovery projects for maturing unconventional plays. For Q4 2014, the Company expects revenue in the range of $275.0 million to $280.0 million, with EPS ranging between $1.53 and $1.56. The full research reports on Core are available to download free of charge at:
http://www.analystsreview.com/Oct-28-2014/CLB/report.pdf
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