Active Stocks News Update: Range Resources Corp. (NYSE:RRC), Atwood Oceanics, Inc. (NYSE:ATW), OGE Energy Corp. (NYSE:OGE)

Share of Range Resources Corp. (NYSE:RRC) jumped 2.48% and is at $21.93 in the Real-Time trading session. The company opened at $21.30 on Tuesday, and is moving between $21.30 – $22.10, through the day.

Range Resources Corp., issued a statement concerning the recent sales of Range Resources common stock by John Pinkerton, who presently serves as a director and is a former Chairman, President and CEO of the Company. Mr. Pinkerton served as President and CEO until his retirement effective January 1, 2012. Since Mr. Pinkertons retirement as CEO of the Company he has been involved in several real estate projects. Most recently, Mr. Pinkerton has been engaged in a large mixed use development in Florida and the Company understands the sales of Company stock by Mr. Pinkerton starting on October 29, 2015 have been to satisfy a margin call in addition to to generate cash to fund the Florida real estate development and for other purposes.

Atwood Oceanics, Inc. (NYSE:ATW) inclined 3.53% right now and is at $10.69. The 52-week range of the share price is from $9.98 – $35.66. The company has total market capitalization of $679.30 billion.

Atwood Oceanics, declared that auxiliaries of the Company have  agreed with Daewoo Shipbuilding & Marine Engineering Co. (DSME) to  delay the Company`s requirement to take delivery of two newbuild ultra-deepwater drillships, the Atwood Admiral  and the Atwood Archer, to September 30, 2017 and June 30, 2018, respectively.

In consideration of the agreement, the Company will make payments of $50 million for each drillship on December 31, 2015, and DSME will extend all remaining milestone payments, $93.9 million for the Admiral and $305 million for the Archer, until their respective delivery dates.  The Company retains the option to take earlier delivery of each vessel, subject to a forty-five (45) day notice period to DSME.

Atwood Oceanics, Inc. is a leading offshore drilling contractor engaged in the drilling and completion of exploratory and developmental wells for the global oil and gas industry. The Company presently owns 11 mobile offshore drilling units and is constructing two ultra-deepwater drillships.  The Company was founded in 1968 and is headquartered in Houston, Texas.  Atwood Oceanics, Inc. common stock is traded on the New York Stock Exchange under the symbol ATW.

Shares of OGE Energy Corp. (NYSE:OGE), gained 0.65%, and is now trading at $26.13. Its overall volume is 429,358.00 million shares right now, and average trading volume of 1.51 million.

Oklahoma Gas and Electric Company made two filings at the Oklahoma Corporation Commission. The first was a request to lower the amount the company collects from customers for the fuel used to generate electricity and the second was a request for a general rate case in 2016 to raise electric rates. If approved, customers will see their bills decrease in January and likely not see the rate improvement before June of next year. Considered together, residential customers would see a net improvement of about 47 cents per month.

Starting in January 2016, OG&E residential customers bills will drop about $6.75 per month largely as a result of declining fuel prices. OG&E passes fuel costs directly to the customer without markup. Due to the ongoing drop in natural gas prices in recent months, OG&E fuel cost collections needed to be reduced, resulting in the need to true up costs and make a refund through lower charges on customer bills going forward.

In its general rate case filing, the company intends to seek a rate improvement of $92.5 million. The companys current electric rates were last set in 2012. The projected improvement largely would be offset by the fuel decrease, resulting in a net monthly improvement of about 47 cents per month. The need for a rate improvement is driven by three key things that are not covered in our current rates, said OG&E spokesman Randy Swanson. We have added about $1.6 billion in electric infrastructure, we have terminated a wholesale generation contract for the benefit of our retail customers and we face raised operating costs. While OG&E has successfully kept most operating costs down, there has been a need to improvement spending in certain areas related to system reliability such as vegetation administration.

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About Travis Garlick 1791 Articles
Been writing about and trading stocks since 2013. Manage a group of micro-cap investors on Facebook with over 15,000 members. Turned $8,500 into 185k the first year I started trading stocks and haven't looked back.