NEW YORK, June 28, 2013 /PRNewswire/ --
Today, Wall Street Reports announced new research reports highlighting Hercules Offshore, Inc. (NASDAQ: HERO), Halcon Resources Corp. (NYSE: HK), Vanguard Natural Resources, LLC (NASDAQ: VNR), BreitBurn Energy Partners L.P. (NASDAQ: BBEP), and Magnum Hunter Resources Corp. (NYSE: MHR). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
Hercules Offshore, Inc. Research Report
On June 24, 2013, Hercules Offshore, Inc. (Hercules Offshore) announced its intention to offer, in a private placement, up to $400 million aggregate principal amount of senior notes due 2021, subject to market conditions. Hercules Offshore plans to use the net proceeds from the offering, together with cash on hand (including the proceeds of approximately $104 million that it expects to receive from the sales of its inland barge rigs, domestic liftboats and related assets), to fund its acquisitions of Discovery Offshore S.A., and to make the final payment of $333.9 million due for Discovery Triumph and Discovery Resilience. The Full Research Report on Hercules Offshore, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.WSReports.com/r/full_research_report/d584_HERO]
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Halcon Resources Corp. Research Report
On June 13, 2013, Halcon Resources Corp. (Halcon) announced that the Company has priced a public offering of 300,000 shares, or $300 million aggregate liquidation preference, of its 5.75% Series A Cumulative Perpetual Convertible Preferred Stock (Perpetual Preferred Stock). Halcon informed that dividends on each share of Perpetual Preferred Stock will be payable quarterly in arrears on March 1, June 1, September 1 and December 1 of each year, commencing from September 1, 2013, when, as and if declared by the Company's board of directors. Dividends may be remunerated in cash or, under certain conditions, common stock or a combination thereof at Halcón's election. The Company also stated that it may not redeem the convertible preferred stock; however, subject to certain conditions, it may, at any time on or after June 6, 2018, give notice of its election to cause all outstanding shares of the Perpetual Preferred Stock to be automatically converted, subject to certain conditions. The Full Research Report on Halcon Resources Corp. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.WSReports.com/r/full_research_report/ef19_HK]
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Vanguard Natural Resources, LLC Research Report
On June 20 2013, Vanguard Natural Resources, LLC (Vanguard) declared a cash distribution attributable to the month of May 2013 of c.$0.21per unit ($2.46 on an annual basis) which will be payable on July 15, 2013 to unitholders of record on July 1, 2013. Also, Vanguard informed that new investors can earn an estimated 8.9% yield based on the June 19, 2013 closing price of $27.76 per unit. The Full Research Report on Vanguard Natural Resources, LLC - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.WSReports.com/r/full_research_report/e631_VNR]
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BreitBurn Energy Partners L.P. Research Report
On June 24, 2013, BreitBurn Energy Partners L.P. (BreitBurn) announced that it has signed a definitive agreement with Whiting Oil and Gas Corporation to acquire an interest in its Postle and North East Hardesty oil fields, along with associated midstream assets, located primarily in the Oklahoma Panhandle. The transaction has been valued at approximately $860 million. Hal Washburn, BreitBurn's CEO, commented, "We expect this acquisition to generate significant accretion to our distributable cash flow per unit and create long-term value for unitholders. These assets are an excellent fit for our portfolio, with significant recoverable oil in place and a long horizon of production visibility. The acquisition is complementary to our Permian Basin operations, and we expect that it will strengthen our technical and exploitation capabilities and broaden our intellectual capital with tertiary flood expertise that can potentially be applied to other BreitBurn properties." The Full Research Report on BreitBurn Energy Partners L.P. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.WSReports.com/r/full_research_report/7253_BBEP]
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Magnum Hunter Resources Corp. Research Report
On June 21, 2013, Magnum Hunter Resources Corp. (Magnum) reported that, on June 17, 2013, the Company received a letter from the NYSE MKT LLC (NYSE MKT) (on which only the Company's preferred stock is listed for trading) notifying Magnum that the NYSE MKT has assented to its plan to regain compliance with the NYSE MKT's continued listing standards and has granted it an extension until August 13, 2013 to regain such compliance. On June 14, 2013, the Company filed its annual report on Form 10-K for FY 2012. The Company expects to file its Form 10-Q by the middle of July 2013, much before the August 13, 2013 deadline set by the NYSE MKT. Upon filing the Form 10-Q, the Company expects to be in full compliance with all NYSE MKT's continued listing standards. The Full Research Report on Magnum Hunter Resources Corp. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.WSReports.com/r/full_research_report/10b1_MHR]
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SOURCE Wall Street Reports
