NEW YORK, April 29, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Rowan Companies Inc. (NYSE: RDC), Hercules Offshore, Inc. (NASDAQ: HERO), CNOOC Ltd. (NYSE: CEO), Antero Resources Corporation (NYSE: AR) and Bill Barrett Corp. (NYSE: BBG). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/1745-100free.
Rowan Companies Inc. Analyst Notes
On April 23, 2014, Rowan Companies Inc. (Rowan) reported that its monthly report of drilling rig status and contract information titled "Monthly Fleet Status Report" was updated on the same day and can be accessed on the Company's website. The notable events in the current report include: Rowan Renaissance, Rowan Mississippi, Hank Boswell, Scooter Yeargain, Rowan Gorilla II and Ralph Coffman. According to the report, for Q1 2014 and FY 2014, Rowan predicts jack-up out of service time to be an estimated 13% and 7% to 9%, respectively. No operational downtime is taken into account in projected out-of-service days, but Rowan predicts jack-up operational downtime to account for an estimated 2.5% of in-service days in current and future quarters. The Company does not currently expect any out of service days in 2014 for the Rowan Renaissance, and after a break in period is expecting operational downtime to be an estimated 5%. The full analyst notes on Rowan are available to download free of charge at:
Hercules Offshore, Inc. Analyst Notes
On April 23, 2014, Hercules Offshore, Inc. (Hercules Offshore) reported its financial results for Q1 2014. Revenue stood at $256.7 million up 37.9% YoY. Income from continuing operations was $19.9 million, or $0.12 per diluted share, versus $40.3 million, or $0.25 per diluted share in Q1 2013. John T. Rynd, CEO and President of Hercules Offshore commented, "First quarter results reflect a healthy jackup rig market in the U.S. Gulf of Mexico and fleet growth in our International Offshore segment. Domestic drilling activity remains active, with the possibility of an improvement in demand later this year." He continued, "Going forward, we expect stable pricing in the U.S. Gulf of Mexico, as all new contracts signed during the latest quarter were executed at current dayrates. Our International Offshore segment benefitted from the contributions of new assets, including the Hercules Triumph and Hercules Resilience." The full analyst notes on Hercules Offshore are available to download free of charge at:
CNOOC Ltd. Analyst Notes
On April 24, 2014, CNOOC Ltd. (CNOOC) reported that the Company has priced its offering of $4.0 billion aggregate principal amount of guaranteed notes. According to the Company, the offering consists of $1.25 billion of 1.625% guaranteed notes due 2017, $2.25 billion of 4.250% guaranteed notes due 2024 and $500 million of 4.875% guaranteed notes due 2044 (collectively known as the Notes). CNOOC stated that the Notes will be issued by CNOOC Nexen Finance (2014) ULC; an indirect wholly-owned subsidiary of the Company and will be guaranteed by the Company. The net proceeds from this offering are estimated to be $4.0 billion. The proceeds shall be utilised to settle in part or part of a $2.0 billion facility that was entered into for the purpose of reibursing part of the bridge loan that funded the CNOOC's acquisition of Nexen Inc. The full analyst notes on CNOOC are available to download free of charge at:
Antero Resources Corporation Analyst Notes
On April 23, 2014, Antero Resources Corporation (Antero Resources) declared the pricing of its private placement to eligible purchasers of $600 million in aggregate principal amount of 5.125% senior unsecured notes due December 2022 at par. According to the Company, the offering is slated to close on May 6, 2014, subject to customary closing conditions. Antero Resources predicts that it will receive net proceeds of an estimated $591.6 million, of which it plans to use $277.5 million to finance the redemption of its outstanding 7.25% senior notes due 2019- Antero Resources stated that it plans to use the remaining net proceeds to settle a portion of the outstanding borrowings under its credit facility. The full analyst notes on Antero Resources are available to download free of charge at:
Bill Barrett Corp. Analyst Notes
On April 22, 2014, Bill Barrett Corp. (Bill Barrett) reported that it will release its Q1 2014 financial and operating results after the market closing on Thursday, May 1, 2014. The Company informed that it will also hold a conference call to review its results at 11:00 a.m. ET (9:00 a.m. MT) on Friday, May 2, 2014. The Company said that the live and archived webcast of the call will be accessible via the Company website, through the "First Quarter 2014 Results" link under Recent Updates on the homepage. The full analyst notes on Bill Barrett are available to download free of charge at:
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