Goldman Sachs on Thursday increased the price target for Saudi drilling services company Ades Holding (SASE:2382) to 22.90 Saudi riyals from 22.20 riyals and kept its buy rating.
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A World Bank delegation will travel to Caracas to meet Venezuelan government officials for the first time since the institution resumed formal relations with the country last month, Bloomberg News reported on Thursday, citing people familiar with the matter.According to the report, the delegation will be led by Susana Cordeiro Guerra, the World Bank's vice president for Latin America and the Caribbean. A spokesperson for the lender confirmed to Bloomberg that representatives would visit Caracas.The visit follows the World Bank's decision in April to resume dealings with Venezuela under acting president Delcy Rodriguez. Bloomberg noted that the last loan the World Bank extended to Venezuela was in 2005.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Par Pacific Holdings (PARR) said Thursday its Par Petroleum subsidiary closed a private placement of $500 million of 7.375% senior unsecured notes due 2034.The company used the net proceeds, along with cash on hand and borrowings under its asset-based revolving credit facility, to repay all outstanding borrowings and terminate Par Petroleum's term loan due 2030.Par Pacific also increased lender commitments under its senior secured asset-based revolving credit facility to up to $1.8 billion and extended the facility's maturity to 2031.
Prairie Operating (PROP) reported a Q1 loss late Thursday of $2.16 per diluted share, narrowing from a loss of $3.49 a year earlier.Four analysts polled by FactSet expected earnings of $0.15.Revenue for the quarter ended March 31 was $83.4 million, up from $13.6 million a year earlier.Four analysts surveyed by FactSet expected $87.8 million.Shares of the company were down more than 10% in after-hours activity.