Morning Market Movers: FreeSeas Inc (FREE), Range Resources Corp. (RRC)


FreeSeas Inc (NASDAQ:FREE)

Stock’s Trading Stats:

FreeSeas Inc (NASDAQ:FREE) is trading up with a percentage change of 4.17% and is at $0.01 right now. The Company’s market capitalization stands at $467,022.00 in the current trading Session whereas, its outstanding shares are 35.80 Million.

Recent Press Release:

FreeSeas Inc (FREE), through its subsidiaries, provides drybulk shipping services. Its vessels carry various drybulk commodities, such as iron ore, grain, and coal, as well as bauxite, phosphate, fertilizers, steel products, cement, sugar, and rice. Its fleet consists of five Handysize vessels and one Handymax vessel. As of April 23, 2015, its operational fleet had approximately 148,978 deadweight tons with the average age of 17.7 years. The company was formerly known as Adventure Holdings S.A. and changed its name to FreeSeas Inc. in April 2005. FreeSeas Inc. was founded in 2004 and is based in Athens, Greece.

Range Resources Corp. (NYSE:RRC)

Stock’s Trading Stats:

Range Resources Corp. (NYSE:RRC)is surging 7.73% percent and is at $37.49 in the Real-Time trading session. The stock’s market capitalization stands at $6.34 Billion with outstanding shares of 169.74 Million.

Recent Press Release:

Range Resources Corp. (RRC) on March 28 announced that it has completed the sale of its Bradford County non-operated assets. After purchase price adjustments based upon a January 1st effective date, Range received approximately $110 million of sales proceeds at the closing plus retaining the net cash flow since the effective date. In early February, Range signed a purchase and sale agreement covering its non-operating Marcellus interest in Bradford County, Pennsylvania for approximately $112 million. Range sold an average working interest of 23% covering approximately 10,900 net acres with net production of approximately 22 Mmcf per day.

Range will include the Bradford County operations in its operations until the closing date in its first quarter reported operations. The net proceeds were used to reduce debt and other corporate purposes. This monetization further strengthens the Company’s financial position by reducing leverage and enhancing liquidity. After the sale, the borrowing base under Range’s revolving credit facility remains unchanged at $3 billion.

Range Resources Corp. (RRC) operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. The company holds interests in developed and undeveloped natural gas and oil leases in the Appalachian region of the United States.