Upcoming Conference Call, Dividend Distributions, Asset Acquisition, Well Updates, and Closing of Public Offering - Analyst Notes on Penn Virginia, LinnCo, Sanchez Energy, Comstock and Abraxas
Editor Note: For more information about this release, please scroll to bottom.
NEW YORK, July 10, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Penn Virginia Corporation (NYSE: PVA), LinnCo, LLC (NASDAQ: LNCO), Sanchez Energy Corporation (NYSE: SN), Comstock Resources, Inc. (NYSE: CRK) and Abraxas Petroleum Corporation (NASDAQ: AXAS). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/4625-100free.
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Penn Virginia Corporation Analyst Notes
On July 2, 2014, Penn Virginia Corporation (Penn Virginia) announced that it will release its Q2 2014 financial results on July 30, 2014, after the market close, followed by a conference call on July 31, 2014 at 10:00 a.m. ET. Link to the Q2 2014 earnings release, as well as the call, will be made available on the Company's website and through other electronic business news services. However, access to the telephonic replay will only be available for two weeks after the call has concluded. The full analyst notes on Penn Virginia are available to download free of charge at:
http://www.analystsreview.com/Jul-10-2014/PVA/report.pdf
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LinnCo, LLC Analyst Notes
On July 1, 2014, LinnCo, LLC (LinnCo) and LINN Energy, LLC (LINN Energy) announced monthly dividends and distributions. LinnCo declared a monthly cash dividend of $0.2416 per common share, or $2.90 per share on an annualized basis, while LINN Energy declared a monthly cash distribution of $0.2416 per common share, or $2.90 per unit on an annualized basis for all its outstanding units. The dividend and the distribution will be payable on July 17, 2014 and July 16, 2014, respectively, to shareholders of record as of the close of business on July 11, 2014. The full analyst notes on LinnCo are available to download free of charge at:
http://www.analystsreview.com/Jul-10-2014/LNCO/report.pdf
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Sanchez Energy Corporation Analyst Notes
On June 30, 2014, Sanchez Energy Corporation (Sanchez Energy) announced its successful acquisition of Eagle Ford Shale assets from wholly-owned subsidiaries of Royal Dutch Shell plc, with an effective date of January 1, 2014. Total consideration for the acquisition was approximately $553.5 million, which includes the approximate $51.1 million deposit previously paid. The transaction was funded from cash on hand from a portion of the net proceeds from the previously issued $850 million senior unsecured 6.125% notes due 2023. The final purchase price is subject to further customary post-closing adjustments. Meanwhile, the Company also announced the closing of its Second Amended and Restated $1.5 billion Credit Agreement dated June 30, 2014 with an elected commitment amount of $425 million. The full analyst notes on Sanchez Energy are available to download free of charge at:
http://www.analystsreview.com/Jul-10-2014/SN/report.pdf
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Comstock Resources, Inc. Analyst Notes
On June 25, 2014, Comstock Resources, Inc. (Comstock) announced the results of its first Burleson County Eagle Ford Shale Well. The Henry A #1H well was tested at a 24-hour average production rate of approximately 1,267 barrels of oil equivalent per day, comprised of 1,023 barrels of oil and 1.5 million cubic feet of natural gas. Recently, the second well, the Mach A #1H reached total depth and will now be completed in July 2014. Comstock revealed that new locations have been built for the next two wells, the Flencher A #1H and the Curington A #1H, and the Company is planning to drill 10 gross (9.2 net) wells in 2014 on its acreage. Commenting on the update, Jay Allison, CEO of Comstock, said, "The initial results of our first East Texas Eagle Ford well combined with successful offset wells of other operators are confirming the potential of our newly acquired acreage." The full analyst notes on Comstock are available to download free of charge at:
http://www.analystsreview.com/Jul-10-2014/CRK/report.pdf
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Abraxas Petroleum Corporation Analyst Notes
On June 24, 2014, Abraxas Petroleum Corporation (Abraxas) announced the closing of its public offering of 11.5 million shares of common stock, including 1.5 million shares sold pursuant to the exercise by the underwriters of their full option to purchase additional shares at $5.00 per share. The offering was made pursuant to an effective shelf registration statement on Form S-3 previously filed by the Company with SEC. The full analyst notes on Abraxas are available to download free of charge at:
http://www.analystsreview.com/Jul-10-2014/AXAS/report.pdf
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