SDX Energy - Positive Development Well results in NW Gemsa, Egypt

Al Amir S.E. #24 Development Well
 
LONDON, England, May 20, 2016  - SDX Energy Inc. ("SDX" or the "Company") (TSX-V / AIM: SDX), an oil & gas exploration and production company with assets in Egypt & Cameroon, is pleased to provide the following update on the recently completed Al Amir SE 24 (AASE-24) development well in North West Gemsa, where SDX Energy has 10% working interest. The well encountered significant oil bearing reservoir sections in both the Kareem Rahmi and Shagar formations and has been completed as a producer in the Shagar. 
 
Al Amir SE-24 Well:
AASE-24 was drilled to a depth of 9,925 feet where both the Shagar and Rahmi oil reservoirs were encountered.  Log analysis indicates 15 feet of net Shagar oil pay and 7 feet of net Rahmi oil pay.  The well has been completed as an oil producer in the Shagar and has flowed on test light 43.6⁰ API oil at an average rate of 1,714 BOPD with 3.062 MMSCFD of associated gas.  The well has been connected to the existing facilities and it will be placed on production immediately. 
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Ocean Rig UDW Inc. Reports Financial and Operating Results for the First Quarter 2016

NICOSIA, CYPRUS--(May 19, 2016) -  Ocean Rig UDW Inc. (NASDAQ: ORIG), or Ocean Rig or the Company, an international contractor of offshore deepwater drilling services, today announced its unaudited financial and operating results for the quarter ended March 31, 2016.
 
First Quarter 2016 Financial Highlights
For the first quarter of 2016, the Company reported a net income of $288.0 million, or $2.07 basic and diluted earnings per share.
 
Included in the first quarter 2016 results are:
Non-cash gains associated with the purchase of the 7.25% Senior Unsecured Notes due 2019 and the 6.5% Senior Secured Notes due 2017 totaling $125.0 million, or $0.90 per share. 
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Valeura announces binding letter agreement with Statoil for farm-out on Banarli Licences in Turkey

CALGARY, May 15, 2016 - Valeura Energy Inc. ("Valeura" or the "Corporation") (TSX:VLE.TO - News) is pleased to announce that its wholly-owned affiliate, Corporate Resources B.V. ("CRBV") (collectively "Valeura") has entered a binding letter agreement (the "Letter Agreement") with Statoil Holding Netherlands B.V. ("Statoil") a wholly-owned affiliate of Statoil ASA for a farm-out agreement for the exploration of the deeper formations below approximately 2,500 metres where over-pressure is expected on Valeura's two 100% owned and operated Banarli exploration licences (the "Banarli Licences") in the Thrace Basin of Turkey. The Banarli Licences encompass an area of 540 square kilometres or 133,840 gross acres near the centre of the basin. The Letter Agreement is subject to satisfaction of certain conditions precedent including the execution of definitive agreements and the approval of the General Directorate of Petroleum Affairs ("GDPA") of the Republic of Turkey for the associated licence interest transfers, which is expected to occur before the end of September 2016.
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Range Resources Corporation Announces Merger With Memorial Resource Development Corp.

FORT WORTH, TX--(May 16, 2016) -RANGE RESOURCES CORPORATION "Range"(NYSE: RRC) and MEMORIAL RESOURCE DEVELOPMENT CORP. "MRD" (NASDAQ: MRD) announced today a definitive merger agreement under which Range will acquire all of the outstanding shares of common stock of MRD in an all-stock transaction valued at $4.4 billion. This valuation includes the assumption of MRD's net debt, which was $1.1 billion as of March 31, 2016.
 
Jeff Ventura, Range's CEO, said, "This is an exciting announcement that brings together two high-quality unconventional producers with large de-risked, high-return projects into one portfolio. This acquisition will give Range strategic positioning in both the Appalachian and Gulf Coast regions, providing greater marketing capabilities and opportunities, with added beneficial exposure to growing natural gas demand. The transaction is also accretive to our cash flow, bolsters our credit profile and enhances the overall portfolio. Like Range, the MRD team has a strong culture and track record of safe and efficient operations. We look forward to adding their talents and capabilities to our company, strengthening one of the top overall technical teams in the industry. We believe this combination will create significant value for our existing and new shareholders."
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Legacy Reserves LP Announces First Quarter 2016 Results and Provides Operational and Financial Update

MIDLAND, Texas, May 04, 2016 -- Legacy Reserves LP ("Legacy") (LGCY) today announced first quarter results for 2016 including the following Q1 highlights:
 
Increased production to 45,527 Boe/d
 
Reduced lease operating expenses, excluding ad valorem taxes, of $46.7 million representing a nearly 4% decrease compared to Q4 2015
 
Closed $68.5 million of asset sales, above our previously-announced target of $50 million
 
Reduced debt outstanding by $191.8 million including a $38.0 million reduction in borrowings under our credit facility and $153.8 million of senior notes
 
Reported net income of $105.3 million, representing earnings per unit of $1.47 driven by a gain on extinguishment of debt of $130.8 million
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