Forbes Energy Services Reports 2015 First Quarter Financial Results

ALICE, Texas, May 14, 2015 -- Forbes Energy Services Ltd. (FES) announced financial and operating results for the three months ended March 31, 2015.

Selected financial information for the quarter ended March 31, 2015:

  • Consolidated revenues were $84.3 million for the first quarter of 2015, compared to $111.7 million for the fourth quarter of 2014.
  • Gross profit decreased to $23.8 million, or 28.2% of revenues, in the first quarter of 2015, compared to $25.9 million, or 23.2% of revenues, in the fourth quarter of 2014.
  • GAAP net loss attributable to common shares was $4.6 million, or $0.21 per diluted share, for the first quarter of 2015, compared to net loss attributable to common shares of $4.2 million, or $0.19 per diluted share for the fourth quarter of 2014.
  • Adjusted EBITDA totaled $14.6 million in the first quarter of 2015, compared to $16.4 million in the fourth quarter of 2014.
    Read more: Forbes Energy Services Ltd ( FES )

Ocean Rig UDW Inc. Reports Financial and Operating Results for the First Quarter 2015

NICOSIA, CYPRUS--( May 11, 2015) -  Ocean Rig UDW Inc. (NASDAQ: ORIG), or Ocean Rig or the Company, an international contractor of offshore deepwater drilling services today announced its unaudited financial and operating results for the first quarter ended March 31, 2015.

First Quarter 2015 Financial Highlights

  • For the first quarter of 2015, the Company reported a net income of $41.1 million, or $0.31 basic and diluted earnings per share.
     
  • The Company reported Adjusted EBITDA(1) of $219.0 million for the first quarter of 2015, as compared to $172.2 million for the first quarter of 2014.
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Noble Energy Announces Entry Into Eagle Ford And Permian Through Acquisition Of Rosetta Resources

HOUSTON, May 11, 2015  Noble Energy, Inc. (Noble Energy) (NBL) and Rosetta Resources Inc. (Rosetta) (ROSE) today announced a definitive merger agreement whereby Noble Energy will acquire all of the common stock of Rosetta in an all-stock transaction valued at $2.1 billion, plus the assumption of Rosetta's net debt of $1.8 billion as of March 31, 2015. 

Dave Stover, Noble Energy's Chairman, CEO, and President stated, "I am excited to announce this strategic transaction which adds two exceptional and material areas to our global portfolio.  The Eagle Ford and the Permian are premier unconventional resource plays, two of the most economic in the U.S., which will expand our resource base and development inventory and further diversify our portfolio.  The transaction will be immediately accretive to our per share production, reserves, earnings, and cash flow.  Rosetta's team has a strong culture and track record of safe and efficient operations, and we look forward to adding their talents and capabilities to our company.  The strengths of the combined assets and people will drive significant value creation for our existing and new shareholders."

Read more: Rosetta Resources Inc ( ROSE )

Pacific Rubiales confirms offer and exclusive discussions

TORONTO, May 5, 2015 - Pacific Rubiales Energy Corp. (PRE.TO) (BVC:PREC) announces that it has entered into exclusive discussions in respect of an offer  from ALFA, S.A.B. de C.V. ("ALFA") and Harbour Energy Ltd. ("Harbour Energy"), whereby they would acquire all of the issued and outstanding common shares in the capital of the Company ("Common Shares") not owned by ALFA for a price of C$6.50 per share, subject to completion of definitive documentation and final Board approvals. The Company's Board has constituted a Special Committee comprised of independent directors, which has engaged an independent financial advisor to deliver a formal valuation in accordance with applicable Canadian securities laws.

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Execution of Asset Purchase Agreement for the Acquisition of 1,800 boe/d of Production and a 25,000 bbls/d Fluid Processing Facility in Southern Alberta

CALGARY, ALBERTA--( May 1, 2015) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) is pleased to announce that it has entered into an asset purchase agreement with a public Alberta-based resource company for the acquisition of approximately 1,800 boe/d of production (66% oil and liquids) and a related 25,000 bbls/day fluid processing facility in the Wayne area of southeast Alberta (the "Wayne Assets") for total cash consideration of $61.5 million prior to transaction costs and customary closing adjustments (the "Proposed Acquisition"). Closing of the Proposed Acquisition is anticipated to occur on or about June 1, 2015. Manitok anticipates financing the Proposed Acquisition with approximately $47.0 million primarily from a production volume royalty of approximately 6% of Stolberg production through a private royalty income trust company and up to $20.0 million of infrastructure based facility financing.

Read more: Manitok Energy Inc ( MEI )