On Tuesday, Shares of Freeport-McMoRan Inc (NYSE:FCX), added 2.10% and closed at $9.72 in the last trading session. FCX stock opened its last trade at $9.71 and after floating in a range of $9.53 to $9.80. The company’s Market capitalization is $12.72 Billion with the total Outstanding Shares of 1.33 million. During the 52-week trading session the minimum price at which share price traded, registered at $3.52 and reached to max level of $14.06.The Earnings per Share of the company stands at $-10.61. Freeport-McMoRan Inc. (FCX) declared recently a purchase and sale agreement to sell its onshore California oil and gas properties to Sentinel Peak Resources California LLC for total consideration of $742 million, counting contingent consideration.
Under the terms of the agreement, FCX will receive cash consideration of $592 million at closing and additional consideration of $50 million per annum in each of 2018, 2019 and 2020 if the price of Brent crude oil averages $70 per barrel or higher in that calendar year. The purchasers will also assume future abandonment obligations associated with the properties, which had a book value of about $0.1 billion at June 30, 2016.
The transaction has an effective date of July 1, 2016, and is expected to close in fourth-quarter 2016, subject to customary closing conditions.
For the twelve month period ended June 30, 2016, net daily sales volumes from these properties averaged 28.6 thousand barrels of oil per day. Over this period, revenues totaled $0.4 billion, cash production costs (before G&A) totaled $0.3 billion and capital expenditures totaled $0.04 billion.
Shares of AES Corp (NYSE:AES), added 1.37% and closed at $11.87 in the last trading session. AES stock opened its last trade at $11.85 and after floating in a range of $11.74 to $11.95. The company’s Market capitalization is $7.92 Billion with the total Outstanding Shares of 659.09 million. During the 52-week trading session the minimum price at which share price traded, registered at $8.22 and reached to max level of $13.32.The Earnings per Share of the company stands at $0.18. The AES Corporation (AES) is a Fortune 200 global power company. We provide affordable, sustainable energy to 17 countries through our diverse portfolio of distribution businesses in addition to thermal and renewable generation facilities. Our workforce of 21,000 people is committed to operational excellence and meeting the world’s changing power needs. Our 2015 revenues were $15 billion and we own and manage $37 billion in total assets.