On Thursday, Shares of Seadrill Ltd (NYSE:SDRL), subtract -6.44% and closed at $2.47 in the last trading session. The last trading range of the stock ranges between $2.45 and $2.62. Seadrill Limited (“Seadrill”) advises that it is aware of an article published by Bloomberg recently regarding the Company`s ongoing refinancing and recapitalization plans. We refer to our formerly published communications in this regard. The Company remains in negotiations with its stakeholders regarding its refinancing and recapitalization plans and there are no material developments to disclose. This information is subject of the disclosure requirements following section 5-12 of the Norwegian Securities Trading Act.
Devon Energy Corp (NYSE:DVN), dropped -1.48% and closed at $43.90 in the last trading session. The last trading range of the stock ranges between $43.27 and $44.76. The company’s Market capitalization is $23.20 Billion with the total outstanding Shares of 523.60 million. Devon Energy Corp. (DVN) recently declared that it has accomplished the sale of its 50 percent ownership interest in Access Pipeline to Wolf Midstream Inc., a portfolio company of Canada Pension Plan Investment Board, for CAD $1.4 billion, or USD $1.1 billion. Devon also has the right to receive an incremental CAD $150 million payment from Wolf Midstream with the sanctioning and development of a new thermal-oil project on Devon’s Pike lease in Alberta, Canada. The sale agreement further allows for Access Pipeline tolls to be reduced by as much as 30 percent with the future development of multiple projects at Pike.
With the close of Access Pipeline, Devon’s divestiture program is now complete with total proceeds reaching USD $3.2 billion. At least two-thirds of the sales proceeds are expected to be utilized for debt reduction, with $1.2 billion of debt repurchased to date.
Lennar Corporation (NYSE:LEN), dropped -1.99% and closed at $40.96 in the last trading session. The last trading range of the stock ranges between $40.67 and $41.49. During the 52-week trading session the minimum price at which share price traded, registered at $37.14 and reached to max level of $52.50. – Lennar Corporation (NYSE:LEN and LEN.B) declared recently that LMC, its wholly owned partner, received an additional $250 million commitment to its Lennar Multifamily Venture (“LMV”), which completes the fund raising for this long term multifamily development investment vehicle. With commitments totaling $2.2 billion LMV is well capitalized to develop and own Class A multifamily communities in 25 target markets throughout the United States.
Lennar launched LMC in 2011, and since that time the company has been among the nation’s most active developers. LMC presently has about 13,300 apartment homes in 45 communities operating or under construction and counting these communities, a total development pipeline that exceeds $7 billion and over 23,000 apartments. The company builds high-rise, mid-rise, and garden apartment communities.
LMV’s ownership includes six prominent institutional shareholders, comprised of foreign pensions, sovereign wealth funds, and insurance companies. Lennar also has a $504 million commitment to the venture.