CORAL SPRINGS, Florida, September 21, 2016 /PRNewswire/ --
Small gains in oil/gas-weighted stocks compared to alternative energy, biofuel & natural gas could be one of many factors to the movement in crude oil prices. Crude oil prices can drive the response in the entire energy sector and not just in crude oil stocks. Energy companies with positive advancements in the markets or recent developments of note include: Chesapeake Energy Corporation (NYSE: CHK), Xfuels Inc. (OTC: XFLS), Plug Power Inc. (NASDAQ: PLUG), SunPower Corporation's (NASDAQ: SPWR) and Bellatrix Exploration Ltd. (NYSE: BXE).
Xfuels Inc. (OTC: XFLS) is pleased to report on Area 2 Energy progress. July sales for Area 2 Energy were $75,817.33 with a summarized net operating income of $55,004.63. July sales increased by 180% from the May acquisition due to implementation of the capital plan and increased gas prices. August and September sales are on target as sales prices have hit highs of $2.70/GJ and futures show a continuing uptrend over $3.00/GJ through 2017 and 2018.
As per the news release of September 7th, 2016 Converde and Xfuels are implementing the capital plan to increase production through cash flow and shareholder financing from Converde for the immediate future. Once Xfuels has completed its S1 registration statement, as per the terms of the equity purchase agreement announced on August 30th, 2016, the company will continue increasing its investment into the field.
Read the full Xfuels (XFLS) Press Release at: http://financialnewsmedia.com/profiles/xfls.html
Mr. Michael McLaren states "The growth in revenue increases our bottom line and allow us to continue growing the business and implementing our technology." He further stated "The company continues to move forward on other profitable projects and having this consistent cash-flow allows us to effectively execute our venture upside projects." The company continues to manufacture and test a demo 4-ton system at our Didsbury location which will produce about 500 gallons of fuel per day with the integration of the catalytic reactor portion of the system.
Other Energy Industry performers of the week are:
Chesapeake Energy Corporation (NYSE: CHK) closed down just over 3% in the red on Tuesday on over 68 Million shares traded by the market close but rose slightly in aftermarket trading. Chesapeake recently announced the expiration and final results of its offers to purchase for cash (the "Tender Offers") up to $750,000,000 aggregate purchase price (exclusive of accrued interest) (the "Aggregate Maximum Purchase Amount"), of the outstanding notes of Chesapeake set forth in the table below (collectively, the "Notes"). As of 11:59 p.m., New York City time, on September 12, 2016 (such date and time, the "Expiration Date"), Chesapeake received valid tenders totaling approximately $790.4 million aggregate principal amount of the Notes.
Plug Power Inc. (NASDAQ: PLUG) experience higher than normal trading on Tuesday closing up over 12% at $1.69 with more than 3.7 Million shares traded by the market close. Plug Power, a leader in providing energy solutions that change the way the world moves, announced last week that Mitsubishi Nichiyu Forklift is displaying one of the company's GenDrive fuel cell systems in its industrial trucks at Logis Tech Tokyo - the culmination of a year of product evaluation and engineering collaboration work by both companies.
8point3 Energy Partners (CAFD) announced after the market close on Tuesday that it has entered into an agreement to acquire SunPower Corporation's (NASDAQ: SPWR) 49 percent stake in its 102-megawatt (MW) Henrietta solar project for $134 million. "Our acquisition of SunPower's 49 percent minority interest in Henrietta further re-enforces our long-term strategy of adding high quality solar projects from our sponsors, with investment grade off-takers, to our portfolio," said Chuck Boynton, CEO of 8point3 Energy Partners. "With the expected acquisition of Henrietta, our portfolio will grow to interests in 637-MW of solar projects."
Bellatrix Exploration Ltd. (NYSE: BXE) announced this week that it has entered into an agreement with InPlay Oil Corp. ("InPlay") to sell certain non-core Cardium focused assets in the greater Pembina area of Alberta (the "Pembina asset sale") for total consideration of $47 million. Total consideration is comprised of $42 million cash, and 16,666,666 shares of InPlay with a deemed value of $5 million ($0.30 per share). InPlay is currently a private exploration and production company, but concurrently with the announcement of the Pembina asset sale, it has announced a proposed reverse takeover transaction which among other things, would provide for a public listing for its shares on the Toronto Stock Exchange.
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