CORAL SPRINGS, Florida, September 28, 2016 /PRNewswire/ --
As certain segments of the energy sector struggles of late, the alternative energy industry continues to make a push towards mainstream in the economy around the globe as more and more switch to renewable energy systems. Energy companies with active trading and or developments in the markets today are Chesapeake Energy Corporation (NYSE: CHK) , Xfuels Inc. (OTC: XFLS), SunPower Corp. (NASDAQ: SPWR), Real Goods Solar, Inc. (NASDAQ: RGSE) and Rice Energy Inc. (NYSE: RICE).
Xfuels Inc. (OTC: XFLS) is pleased to report on Area 2 Energy progress. Xfuels is pleased to announce that sales are projected to be up by 200%, for the 6 months ending October 2016. Due to Xfuels investment into production and rising commodity prices, according to October AECO futures, sales are anticipated to be 200% higher than purchase in May.
Read the full XFLS Press Release at: http://financialnewsmedia.com/profiles/xfls.html
Mr. Michael McLaren states "Now that commodity prices have increased to a reasonable level our focused goal is to get the field producing at a rate of 2500 GJ/day by the end of November 2016." He further stated, "Our near term target is to have the field producing 3100 GJ/day by the end of the year going into January and February where futures are expected to top $3.00/GJ." The company continues to work on the 4 ton/day Gas to Liquids (GTL) pilot plant and reports progress is going forward on schedule. Once completed the plant will add another $2,500.00 per day in sales of the liquids to the project with minimal effect on the overall gas production. Once installed and proven Xfuels will begin expanding the project to 10 tons per day.
In other market and trading activity of note from around the energy industry:
Chesapeake Energy Corporation (NYSE: CHK) closed down over 5% on Tuesday at $6.23 on heavy trading with over 83Million shares traded by the market close. In afterhours trading it traded slightly up. Chesapeake announced yesterday the expiration and final results of its offers to purchase for cash (the "Tender Offers") up to $800,000,000 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 26, 2016 (such date and time, the "Expiration Date"), Chesapeake received valid tenders totaling approximately $933.3 million aggregate principal amount of the Notes.
SunPower Corp. (NASDAQ: SPWR) closed up over 5% at $8.70 on average trading volume of over 2.89Million shares traded by the market close. SPWR was also up slightly in afterhours trading. Colton Joint Unified School District (CJUSD) and SunPower recently celebrated the upcoming construction of SunPower® Helix™ carport systems at 28 schools. The SunPower Helix carport systems will generate approximately 6.1 megawatts (MW) of clean energy and are estimated to provide CJUSD with more than $35 million in electricity savings over the next 25 years. On completion, SunPower estimates that 73 percent of the district's electricity will be provided through the SunPower Helix carport systems. CJUSD will buy power at a competitive rate under a power purchase agreement (PPA) with SunPower and will own the renewable energy credits associated with the systems.
Real Goods Solar, Inc. (NASDAQ: RGSE) was a Nasdaq top performer yesterday closing up 110% at $5.59 on over 44 Million shares traded by the market close. RGS Energy recently completed the previously announced $2.8 million offering of units consisting of its Series A 12.5% Mandatorily Convertible Preferred Stock, stated value $1,000 per share (the "Preferred Stock"), and Series H warrant at a price of $1,000 per unit.
Rice Energy Inc. (NYSE: RICE) closed down over 7% at $25 on heavy trading of over 22.2 Million shares traded by the market close. This following recent news Rice Energy has entered into a purchase and sale agreement ("PSA") to acquire Vantage Energy, LLC and Vantage Energy II, LLC (collectively, "Vantage Energy") for approximately $2.7 billion, including the assumption of debt. In connection with the acquisition, Rice Midstream Partners LP (RMP) ("RMP") will purchase the acquired midstream assets from Rice Energy for $600 million. The transaction is expected to close in the fourth quarter of 2016, subject to customary closing conditions.
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