On Monday, Shares of Weatherford International Plc (NYSE:WFT), added 3.78% and closed at $4.94 in the last trading session. The last trading range of the stock ranges between $4.55 and $4.96. The company’s Market capitalization is $4.27 Billion with the total Outstanding Shares of 897.10 million. During the 52-week trading session the minimum price at which share price traded, registered at $3.73 and reached to max level of $11.21. The EPS of company is strolling at -4.82. Weatherford International plc (WFT) declares the departure of Bernard J. Duroc-Danner, Chairman of the Board, President and Chief Executive Officer effective right away. Mr. Robert Rayne, current Vice Chairman of the Board, will serve as Chairman of the Board. Mr. Krishna Shivram will lead the Company as interim Chief Executive Officer, and will continue as Chief Financial Officer (CFO) until a new CFO is named in the coming days.
The Board is extremely grateful to Dr. Duroc-Danner for his leadership, vision, loyalty and the guidance offered to Weatherford and its predecessors for the past 30 years. He has grown and steered the Company from humble startings into one of the leading oilfield service providers that it is recently, providing numerous contributions to both the Company and the industry.
Shares of Gevo, Inc. (NASDAQ:GEVO), dropped -0.33% and closed at $0.389 in the last trading session. The last trading range of the stock ranges between $0.38 and $0.45. The company’s Market capitalization is $52.26 million with the total Outstanding Shares of 136.45 million. During the 52-week trading session the minimum price at which share price traded, registered at $0.22 and reached to max level of $1.64. The EPS of company is strolling at -1.43. Gevo, Inc. (GEVO) recently declared financial results for the three months ended September 30, 2016. Key highlights for the quarter included:
Gevo produced about 145,000 gallons of isobutanol during the quarter.
On November 14, Alaska Airline flew the first commercial flight with Gevo’s cellulosic Alcohol-to-Jet fuel (“ATJ”). Formerly, on October 11, 2016, Gevo declared that it had accomplished production of the world’s first cellulosic renewable jet fuel that is specified for commercial flights. Gevo successfully adapted its patented technologies to convert cellulosic sugars derived from wood waste into renewable isobutanol, which was then further converted into its ATJ. This ATJ meets the ASTM D7566 specification allowing it to be used for commercial flights. Gevo produced over 1,000 gallons of the cellulosic ATJ.
On November 10, Gevo declared that gasoline blended with its isobutanol and marketed for use in automobiles has begun to be sold in the Houston area. This marks the first time that Gevo’s isobutanol has been specifically targeted towards on-road vehicles. Musket Corporation is Gevo’s distribution partner serving the Houston market. Musket is blending up specially formulated gasoline containing Gevo’s isobutanol to distribute into the on-road automobile market.
On September 7, 2016, Gevo declared that it had reached a heads of agreement with Deutsche Lufthansa AG (“Lufthansa”) to supply Gevo’s ATJ from its first commercial hydrocarbons facility, intended to be built in Luverne, MN. The terms of the agreement contemplate Lufthansa purchasing up to 8 million gallons per year of ATJ or up to 40 million gallons over the 5-year life of the off-take agreement. The heads of agreement establishes a selling price that is expected to allow for an appropriate level of return on the capital required to build-out Gevo’s first commercial scale hydrocarbons facility. The heads of agreement is non-binding and is subject to completion of a binding off-take agreement and other definitive documentation between Gevo and Lufthansa.