NEW YORK, December 30, 2014 /PRNewswire/ --
Moments ago, Analysts Review released new research updates concerning several important developing situations including Eagle Rock Energy (NASDAQ: EROC), Energy XXI (NASDAQ: EXXI), EV Energy Partners (NASDAQ: EVEP), Forbes Energy Services (NASDAQ: FES), and Glori Energy (NASDAQ: GLRI). 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.
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Today's update concerns the following companies:
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Full PDF Download Links (you may have to copy and paste the following links into your browser):
EROC Research Report: ( http://get.analystsreview.com/pdf/?c=Eagle%20Rock%20Energy&d=30-Dec-2014&s=EROC ),
EXXI Research Report: ( http://get.analystsreview.com/pdf/?c=Energy%20XXI&d=30-Dec-2014&s=EXXI ),
EVEP Research Report: ( http://get.analystsreview.com/pdf/?c=EV%20Energy%20Partners&d=30-Dec-2014&s=EVEP ),
FES Research Report: ( http://get.analystsreview.com/pdf/?c=Forbes%20Energy%20Services&d=30-Dec-2014&s=FES ),
GLRI Research Report: ( http://get.analystsreview.com/pdf/?c=Glori%20Energy&d=30-Dec-2014&s=GLRI ).
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Analyst Update: Financial Results and Director Appointments
Reviewed by: Rohit Tuli, CFA®
The US stock markets on Monday ended the day on a fairly flat note, as gains were curbed when an early rally in energy stocks was lost due to tumbling oil prices. U.S. crude settled down $1.12 at $53.61 a barrel. While the NASDAQ remained flat at 4,806.91, the S&P 500 posted its 53rd record close of the year on Monday at 2,090.57, up 0.09%. Dow Jones Industrial Average however edged 0.09% lower at 18,038.23. The European stock markets on Monday closed on a mixed note. Greek stocks and bonds slumped after politicians in the country failed for a third time to endorse Prime Minister Antonis Samaras' preferred candidate. Following the rally in the US markets on optimism about the U.S. economic outlook, the Asian stock market rose broadly on Monday. Chinese and Hong Kong shares extended recent gains in reaction to Friday's announcement by the People's Bank of China on easing liquidity requirements at banks staring next year.
Eagle Rock Energy Partners, L.P. (Eagle Rock Energy) reported strong top-line and bottom-line results for its third quarter 2014. Revenues during the quarter noted a massive increase of 91.2% YoY to $81.2 million, led mainly by unrealized gains on commodity derivatives.
Energy XXI Ltd. (Energy XXI) has elected James LaChance and Norman Louie to its board of directors, increasing the size of the board to nine, eight of whom are non-employee directors. The appointments were effective December 15, 2014, and both will stand for election by shareholders at the 2015 annual general meeting.
EV Energy Partners, L.P. (EV Energy Partners) notified a double digit growth in its Adjusted EBITDAX for third quarter 2014 owing to an increase in midstream EBITDAX and increased crude oil and natural gas liquids production volumes. The partnership's Adjusted Earnings before Interest, Taxes, Depreciation, Depletion, Amortization and Exploration Expenses (EBITDAX) increased 14.8% YoY to $61.9 million.
Forbes Energy Services Ltd (Forbes Energy Services) notified solid improvements in its third quarter 2014 results as its net loss attributable to common shareholders decreased 70.6% YoY to $1.7 million, while revenues improved 9.2% YoY to $114.5 million.
Glori Energy Inc (Glori Energy) reported a massive 604.3% YoY increase in its revenues for third quarter 2014 driven by the acquisition of Coke Field in East Texas. Also, the Company was granted a key patent for its breakthrough AERO technology and extended joint research agreement with Statoil to expand deployment and the market applications for our AERO System.
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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.
Compliance Procedure: Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Analysts Review, represented by Rohit Tuli, CFA®. An outsourced research services provider has only reviewed the information provided by Analysts Review in this article or report according to the procedures outlined by Analysts Review. Analysts Review is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.
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