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Yesterday, 5:21 PM
- Standard & Poor's downgrades the junk ratings of 25 oil and gas companies on expectations of deteriorating credit quality due to low commodities prices and reduced production.
- The ratings firm, which also affirmed the ratings of an additional 20 speculative-grade E&P companies, says the ratings actions follow a revision of its price assumptions for crude oil and natural gas.
- Among companies receiving downgrades: AREX, BBG, BCEI, BBEP, CWEI, DNR, EPE, EVEP, GST, KOS, LGCY, MEMP, NOG, OAS, REN, SM, SGY, TPLM, UNT, WTI, WLL
- Last week, S&P cut the ratings of 10 U.S. oil and gas E&P companies, including investment-grade Chevron, and placed Exxon's AAA corporate rating on watch for a possible downgrade.
Yesterday, 12:48 PM
Thu, Jan. 21, 12:45 PM
Dec. 16, 2015, 2:31 PM
- Moody's says it is reviewing 29 E&P companies from the U.S. and seven from Canada for a potential downgrade, saying the companies "will be stressed for a longer period with much lower cash flows, difficulty selling assets and limited capital markets access."
- Based on the severity and potential duration of the industry challenges, Moody's expects many companies will be downgraded one notch and others could be lowered by more than one notch.
- Yesterday, the ratings agency cut its oil and gas price assumptions in light of continuing oversupply in the global oil markets and the U.S. natural gas market.
- Among the U.S. companies: APC, AR, APA, XEC, CXO, COP, CLR, DNR, EGN, EOG, EPE, EQT, HES, MRO, MUR, NFG, NFX, NBL, OXY, PXD, QEP, RRC, SM, SWN, UNT, WLL, WPX
- From Canada: BTE, CNQ, OTCQX:COSWF, CVE, ECA, OTCPK:HUSKF, SU
Nov. 3, 2015, 12:48 PM
Nov. 3, 2015, 8:05 AM
- Unit (NYSE:UNT): Q2 EPS of $0.03 beats by $0.31.
- Revenue of $212.39M (-47.0% Y/Y) beats by $7.64M.
- Shares +1.02% PM.
Nov. 2, 2015, 5:30 PM
- ADM, AFSI, ALE, AMAG, AMSC, ANAC, ANIP, ARIA, AUDC, AXLL, AYR, BLMN, CBM, CDK, CEQP, CIE, CIT, DISCA, DNOW, EMR, EXPD, FI, FIS, FLWS, FSS, FTR, GCAP, GEL, GLDD, GLT, GTN, H, HCP, HRS, HTH, HW, HYH, IART, INCY, K, KMT, LPX, MBLY, MDCO, MHFI, MLM, MMP, MOS, NCLH, NGLS, NI, NMM, NNN, NRZ, NS, [[NTi]], NWN, NXST, NXTM, ODP, OZM, PERI, RDC, RHP, RRGB, SALE, SGNT, SMG, SRE, SSH, SUP, TASR, TGH, TRP, TWI, TZOO, UAM, UNT, VMC, VSH, WLK, WNR, WPC, WPG, ZTS
Oct. 12, 2015, 12:45 PM
Oct. 6, 2015, 2:31 PM
- Unit Corp. (UNT +31.2%) skyrockets after raising its 2015 production growth guidance for its oil and natural gas segment, now expecting growth of 6%-8% for this year compared with prior projections of 2%-4% growth.
- UNT expects its 2015 capex will come in ~$30M less than originally budgeted, with the reduction primarily attributable to its oil and natural gas segment.
- Also, UNT says its new borrowing base following a semi-annual redetermination under its credit agreement is $550M, which remains above the company's elected commitment of $500M.
Oct. 6, 2015, 12:44 PM
Sep. 21, 2015, 12:41 PM
Aug. 4, 2015, 7:34 AM
- Unit (NYSE:UNT): Q2 EPS of -$0.12 beats by $0.06.
- Revenue of $214.45M (-47.1% Y/Y) misses by $10.09M.
Jun. 23, 2015, 6:07 PM
- NiSource spinoff Columbia Pipeline Group (CPGX) is taking Allegeheny Technologies' (NYSE:ATI) spot in the S&P 500. Allegheny will join the S&P MidCap 400.
- Also joining the S&P 400: Casey's General Stores (NASDAQ:CASY), Graham Holdings spinoff Cable One, DuPont spinoff Chemours, and the post-spinoff Energizer (NYSE:ENR).
- Getting dropped to the S&P SmallCap 600 from the 400: Unit Corp. (NYSE:UNT), Harsco (NYSE:HSC), and Semtech (NASDAQ:SMTC).
- Also joining the S&P 600: Nektar (NASDAQ:NKTR), Masco spinoff TopBuild, and the new/post-spinoff Gannett (NYSE:GCI). Gannett's broadcast/digital spinoff Tegna (Pending:TGNA) will have old Gannett's spot in the S&P 500.
- Getting dropped from the S&P 600, and not moving up: Aeropostale (NYSE:ARO), Paragon Offshore (NYSE:PGN), PetroQuest (NYSE:PQ), Quiksilver (NYSE:ZQK), and FXCM.
- Leaving the S&P 400, and not moving elsewhere: Peabody (NYSE:BTU) and AOL (acquired by Verizon).
- ATI -1% AH. UNT -0.7%. ARO -1.1%. PQ -1.9%. BTU -1.1%. NKTR +5.2%.
May 7, 2015, 7:41 AM
- Unit (NYSE:UNT): Q1 EPS of $0.08 beats by $0.24.
- Revenue of $255.1M (-34.3% Y/Y) misses by $7.65M.
Feb. 24, 2015, 7:45 AM
- Unit (NYSE:UNT): Q4 EPS of $0.80 misses by $0.02.
- Revenue of $378.6M (+5.4% Y/Y) misses by $14.73M.
Nov. 4, 2014, 7:23 AM
- Unit (NYSE:UNT): Q3 EPS of $1.11 beats by $0.02.
- Revenue of $401M (+20.1% Y/Y) misses by $9.98M.
Unit Corp engages in land contract drilling of natural gas & oil wells, exploration, development, acquisition and production of oil and natural gas properties. Its activities also include buying, selling, gathering, & processing of natural gas in U.S.
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