Emerald Oil, Inc. (EOX) -NYSE MKT
ayer:
5.21 Down -1.58 (-23.27%) May 26, 4:00PM EDT
hoy en premercado:
After Hours : 9.30 Up +4.09 (+78.50%) May 26, 7:59PM EDT
5:35 pm Emerald Oil elects not to proceed with public offering of common stock; reiterates previously announced 2015 guidance for CapEx of $65 mln (EOX) : Co announced that due to the current market environment and associated dilution to existing shareholders, it has elected not to proceed with its previously announced public offering of common stock. As a result of the Company's election not to proceed with its public offering, the Company will not be taking action to close the previously announced Delaware Basin acquisition.
With the recently completed spring borrowing base redetermination and easing of debt covenants, Emerald will continue developing its Williston Basin leasehold position based upon original plans. With current upper-teens well returns the Company remains committed to completing its 2015 capital expenditures program in a financially conservative manner designed to hold its acreage position while maintaining year-over-year growth in production. The Company reiterates the previously announced 2015 guidance reflecting a $65 million capex budget, of which $42 million has been spent year to date.
