SandRidge Energy (SD) Set to Announce Earnings on Tuesday (Watch List News)
SandRidge Energy Inc. (NYSE:SD) will announce its Q2 2013 earnings results after the market closes on Tuesday, August 6th. Analysts expect the company to announce earnings of ($0.04) per share and revenue of $432.11 million for the quarter. Parties interested in participating in the company’s conference call can do so using this link. SandRidge Energy Inc. (NYSE:SD) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.05. The company had revenue of $511.70 million for the quarter, compared to the consensus estimate of $478.99 million. During the same quarter last year, the company posted $0.04 earnings per share.
Mon., 12:23pm: Chesapeake reports big boost in Utica oil production (Trib- Today)
The Marcellus and Utica shale formations have become known for their untapped reserves of natural gas. The formations also may hold vast amounts of oil – something Chesapeake Energy Corporation (NYSE:CHK) is learning as it drills in the local area. The company pumped 44 percent more oil from April to June than it did during the same period in 2012 from its local operations. And more could be on the way. Chesapeake Energy Corporation (NYSE:CHK) is the largest leasehold acreage holder in the Marcellus shale, which spans from Northern West Virginia across much of Pennsylvania into southern New York. The company also holds substantial acreage in Ohio’s Utica shale.
ExxonMobil ‘not leaving Irish waters’ (Irish Examiner)
Oil giant Exxon Mobil Corporation (NYSE:XOM) has said it has no intention of pulling out of Irish waters, despite disappointing early drilling results from the highly-anticipated Dunquin prospect off the Kerry coast — in which it is a senior partner — last month. The recent findings of the ‘Dunquin North’ exploration well being mainly water-based and having no commercially recoverable hydrocarbons, leading to its abandonment, dented the share price of the asset’s Irish stakeholder, Providence Resources, and led to speculation that Exxon Mobil Corporation (NYSE:XOM) was finished with Ireland. However, a spokesperson for Exxon said, yesterday, that this is “certainly not the case” and the Texas-headquartered company — the world’s largest oil firm — remains a major partner in its two Irish interests in the Porcupine Basin, namely Dunquin and the Cuchulainn field. However, they did add that Exxon Mobil Corporation (NYSE:XOM) currently has no plans for further drilling in Irish waters and would not be speculating on its future plans, at this time.
DEALTALK-Behind every successful activist, there is a lawyer (Reuters)
When TPG-Axon Capital launched a proxy campaign against energy company SandRidge Energy Inc. (NYSE:SD), it choreographed an attack worthy of a seasoned activist, even though it was the 8-year-old hedge fund’s only second such public fight. TPG-Axon hired private investigators at Kroll to unearth alleged governance lapses at SandRidge Energy Inc. (NYSE:SD). It found several candidates to nominate on the company’s board. It even put up a website for a months-long campaign that eventually led to the ouster of CEO Tom Ward earlier this year. The hedge fund had experienced help. Even before it launched the campaign, it hired Schulte Roth & Zabel LLP lawyer Marc Weingarten, a 30-year veteran of activist campaigns, and his partner David Rosewater, for advice.