NEW YORK, January 9, 2015 /PRNewswire/ --
Moments ago, Analysts Review released new research updates concerning several important developing situations including Torchlight Energy (NASDAQ: TRCH), Transglobe Energy (NASDAQ: TGA), U.S. Energy (NASDAQ: USEG), Vertex Energy (NASDAQ: VTNR), and Viper Energy Partners (NASDAQ: VNOM). Analysts Review provides a single unified platform for investors' to hear about what matters - proudly employing registered CFA® research staff and rigorous compliance procedures. The full research reports are being made available to the public for informational purposes only.
To access our full PDF reports on a complementary basis, please visit the links below.
Today's update concerns the following companies:
Full PDF Download Links (you may have to copy and paste the following links into your browser):
TRCH Research Report: ( http://get.analystsreview.com/pdf/?c=Torchlight%20Energy&d=09-Jan-2015&s=TRCH ),
TGA Research Report: ( http://get.analystsreview.com/pdf/?c=Transglobe%20Energy&d=09-Jan-2015&s=TGA ),
USEG Research Report: ( http://get.analystsreview.com/pdf/?c=U.S.%20Energy&d=09-Jan-2015&s=USEG ),
VTNR Research Report: ( http://get.analystsreview.com/pdf/?c=Vertex%20Energy&d=09-Jan-2015&s=VTNR ),
VNOM Research Report: ( http://get.analystsreview.com/pdf/?c=Viper%20Energy%20Partners&d=09-Jan-2015&s=VNOM ).
Analyst Update: Securities Purchase Agreement, Financial Results, Appointment, and Pricing
Reviewed by: Rohit Tuli, CFA®
The U.S. markets rose for the second consecutive session on Thursday, with S&P 500 index erasing its 2015 declines, as steadying crude oil prices coupled with dovish comments from a leading U.S. Federal Reserve official further boosted the appetite for risky assets. Investors also cheered the latest U.S. unemployment data which showed that jobless claims fell last week, bolstering hopes of faster growth in the world's biggest economy this year. The Dow Jones Industrial Average also reversed this year's declines and ended higher by 1.84% at 17,907.87 on Thursday. S&P 500 jumped 1.79% to close at 2,062.14, and the Nasdaq Composite gained 1.84% to finish at 4,736.19. European shares also rose on Thursday amidst rising prospect of new stimulus from the European Central Bank. Asian equity markets were also mostly higher on Thursday, driven by strong U.S. data and hopes of fresh stimulus from ECB.
Torchlight Energy Resources, Inc. (Torchlight Energy) has entered into a Securities Purchase Agreement to sell a series of senior secured notes up to $40 million to a group of institutional lenders. Upon closing, the Company's initial draw will be a minimum of $10.35 million.
Transglobe Energy Corp (Transglobe Energy) reported 17.2% YoY increase in its net earnings for third quarter 2014, while the oil revenues for the quarter declined 23.8% YoY to $123.3 million. Decreased sales volumes combined with lower oil prices led to the decline in oil sales during the quarter.
U.S. Energy Corp. (U.S. Energy) has appointed David Veltri as its President and Chief Operating Officer (COO) effective January 1, 2015. The Company also announced its Board of Directors' approval for an $8.2 million oil & gas capital expenditures budget for the year 2015, besides informing about the reduction of its debt by 25%, from $8 million to $6 million.
Vertex Energy, Inc (Vertex Energy) announced changes in pricing for the sourcing of used motor oil (UMO), the primary feedstock for the Company's processing facilities. Starting in 2015, the Company will switch to a service fee model for the collection of used motor oil and environmental services.
Viper Energy Partners LP (Viper Energy Partners), a subsidiary of Diamondback Energy, Inc., has elected Ms. Rosalind Redfern Grover to the Board of Directors of its General Partner. She joins W. Duncan Kennedy and W. Wesley Perry as the independent directors. Grover is the CEO of Redfern & Grover Resources, LLC and has extensive experience of working in oil and gas partnerships.
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Editor Note: This is not company news. We are an independent source and our views do not reflect the companies mentioned.
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