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Time charter equivalent revenue by segment: Drybulk, $17.13M (up 268%); Tanker, $4.02M (new); Gas Carrier, $3.13M (new).
Cash and equivalents came to $25.9M. Book value of vessels, including advances, sits at $786.5M, about $7.54/share.
Average number of drybulk vessels rose to 21.8 from a year-ago 19.7, with total voyage days rising to 2,002 from 1,353, and fleet utilization rose to 100% from 75%.
Meanwhile, 4 new tanker vessels were online on average, with 368 voyage days and 100% utilization, and 1.2 gas carrier vessels, with 111 voyage days and also 100% utilization.
Net loss attributable to common stockholders widened to $15.2M from a year-ago loss of $5.8M.
Depreciation rose to $5.5M from a year-ago $872,000. The company also saw higher interest and finance costs (of $3.6M) and took a $7.6M loss on private placement.
DryShips (NASDAQ:DRYS) has tumbled after hours, -10.8%, after q3 earnings where voyage revenues rose but net loss tripled amid heavy financing losses.
DryShips (NASDAQ:DRYS): Q3 EPS of -$0.42
Revenue of $29.9M (+147.1% Y/Y)
What’s the next catalyst you are waiting for?
Checking this one out further. Nice run up previously. What’s the word?
That’s pretty wild. So much corruption in that business. How people do it internationally is beyond me.
Our per share results exceeded our forecast as revenues exceeded expectations aided by higher than expected revenue from the U.S. Marshal Service and Immigration and Customs Enforcement or ICE. Adjusted EBITDA was $2.4 million higher than the midpoint of our guidance for the third quarter.
This has allowed us to raise our full year 2017 per share guidance for the fourth consecutive quarter to normalize FFO per share of $2.33 to $2.35, an increase of over 8% in the guidance range from $2.11 to $2.21 per share or $0.18 at the midpoint from the initial full year 2017 guidance we provided back in October of last year. Dave will provide a more detailed summary of the drivers of our financial performance and key factors impacting our updated full year outlook at the conclusion of my remarks.
Our second third financial performance came in ahead of our initial forecast as we experienced modestly higher revenues across multiple federal and state partners during the quarter. Normalized FFO of $0.56 per share was $0.02 ahead of the high-end of our third quarter guidance and AFFO of $0.53 per share was $0.01 ahead of the high-end of our guidance.
Does look strong today. Understand your comments better now.
CLMT says the sale is a step forward in its plan to strengthen its balance sheet and focus resources on its core specialty products business.
CLMT bought Anchor Drilling in 2014 for $235M.
$CLMT - Calumet Specialty Products Partners (CLMT -1.8%) agrees to sell its Anchor Drilling Fluids subsidiary to Q'Max Solutions for $84M.
May just be cutting losses. I think this is becoming attractive again but commodities are far from out of the woods.
Appreciate your comments. I think the proposition is strong here if management has an aggressive plan.
It would be expensive for sure. Time will tell.
Eager to see the details unfold here. If anything like Network 1s history I am confident.
It will help really get things going. Time for US To lead the world in energy.
In their presentation or filings I’m sure. Don’t have info available at the moment.
Very little common sense these days in the media.
It’s just saying 12 million barrels of oil equivalent remaining. Rate it can produce it depends on capex.
Funny thing is more and better infrastructure only help replace weak and risky infrastructure and more stability of supply we get the more we can loosen our addiction to oil.
Market should see what happens after the deal is digested. I think it increases upside considerably. I will use cost basis average in case it dips further.
Revenue of $43.9M (+61.9% Y/Y) beats by $2.98M.
Diana Shipping (NYSE:DSX): Q3 EPS of -$0.25 may not be comparable to consensus of -$0.20.
Looking forward to seeing results.
BP says it remains committed to the North Sea, where it expects production to double to 200K boe/day by 2020 through new projects such as Quad 204 and Clair Ridge.
Serica will pay BP £12.8M up front, a share of cash flows over the next four years, a consideration equivalent to 30% of BP’s post-tax decommissioning costs and several contingent payments dependent on future asset performance and product prices; BP expects to receive payments of ~£300M.
BP agrees to sell stakes in three fields in its Bruce assets in the North Sea to Serica Energy for ~£300M ($398M).
Highlights of the combined company will include pro forma estimated 2017 average daily production of ~47K boe; pro forma proved reserves of 136M boe (69% oil) as of June 30, with 74% located in the deepwater Gulf of Mexico; and a favorable long-term growth profile underscored by the Zama oil discovery in the shallow waters of Mexico.
At closing, Talos stakeholders will own 63% of the combined company and SGY shareholders will own the remaining 37%.
The combined company will be named Talos Energy and is expected to trade on the NYSE under the new ticker symbol TALO.
Stone Energy (NYSE:SGY) and privately held Talos Energy agree to merge in an all-stock transaction; shares are halted.
While ~70% of the world’s discovered oil resources consists of heavy oil and bitumen, Saetre tells Reuters “at Statoil we are not pursuing certain types of resources, we are not exploring for heavy oil or investing in oil sands.”
While the world will need oil and gas for decades to come, STO (STO +1.6%) CEO Eldar Saetre believes many oil deposits will never be tapped as increasingly discerning consumers will demand only the lowest-polluting crude.
Impressive actually. At least it’s something to build on.
Are you. Asking that on the freezes and / cuts they are doing? Seems like that is already putting them under a lot of pressure.
Will the cuts be enough?
Is a dividend already in the cards? Didn’t figure this company is dividend Resh.