News Release
INVESTOR CONTACT: MEDIA CONTACT: CHESAPEAKE ENERGY CORPORATION
Brad Sylvester, CFA
(405) 935-8870
[email protected]
Gordon Pennoyer
(405) 935-8878
[email protected]
6100 North Western Avenue
P.O. Box 18496
Oklahoma City, OK 73154
FOR IMMEDIATE RELEASE
MAY 6, 2015
CHESAPEAKE ENERGY CORPORATION REPORTS 2015 FIRST QUARTER
FINANCIAL AND OPERATIONAL RESULTS
OKLAHOMA CITY, May 6, 2015 – Chesapeake Energy Corporation (NYSE:CHK) today reported financial
and operational results for the 2015 first quarter. Highlights include:
• Average production of approximately 686,000 boe per day, an increase of 14% year
over year, adjusted for asset sales
• Adjusted net income of $0.11 per fully diluted share and adjusted ebitda of $928 million
• 2015 total production guidance increased to 640 – 650 mboe per day
• 2015 capital guidance of approximately $3.5 – $4.0 billion reiterated
• Additional 600 – 700 new Eagle Ford locations added following successful down
spacing test results
Doug Lawler, Chesapeake’s Chief Executive Officer, commented “Chesapeake is meeting the challenge
of low commodity prices head-on and delivered a very strong first quarter. Adjusted for asset sales, our
production in the 2015 first quarter grew by 14% compared to the 2014 first quarter. Our cash costs remain
at industry-low levels and we expect our assets to continue delivering greater efficiencies even as we
reduce our activity levels throughout 2015. We remain on target to balance our capital spending and our
cash flow by year-end, and the capital efficiencies that we are seeing in each of our operating areas are
helping to strengthen that cash flow. During this challenging commodity price environment, our talented
employees and high-quality assets are delivering competitive, differential performance.”
2015 First Quarter Financial Results
For the 2015 first quarter, Chesapeake reported a net loss available to common stockholders of $3.782
billion, or ($5.72) per fully diluted share, which compares to net income available to common stockholders
of $374 million, or $0.54 per fully diluted share in the 2014 first quarter. Items typically excluded by
securities analysts in their earnings estimates reduced 2015 first quarter net income by approximately
$3.824 billion on an after-tax basis and are presented on Page 11 of this release. The primary source of
this reduction was an impairment in the carrying value of Chesapeake's oil and natural gas properties
largely resulting from significant decreases in the trailing 12-month average first-day-of-the-month oil and
natural gas prices as of March 31, 2015, compared to December 31, 2014. Adjusting for this and other
items, 2015 first quarter net income available to common stockholders was $42 million, or $0.11 per fully
diluted share, which compares to adjusted net income available to common stockholders of $405 million,
or $0.59 per fully diluted share, in the 2014 first quarter.
Adjust.
Ugi 2015 q3 earnings call presentation v finalUGI_Corporation
The document provides information on UGI Corporation's Q3 2015 earnings conference call. It includes:
- UGI reported adjusted EPS of $0.03 compared to $0.10 in Q3 2014, impacted by a $0.06 loss from its Totalgaz acquisition.
- Business unit results were mixed - AmeriGas saw lower volume due to warmer weather but higher margins, while UGI International faced acquisition costs and currency impacts.
- Midstream & Marketing had higher natural gas and power margins but lower capacity management income.
- The company reiterated its FY2015 adjusted EPS guidance range despite the Totalgaz impact.
Ugi 2015 q3 earnings call presentation v finalAmeriGas
The document provides information on UGI Corporation's Q3 2015 earnings conference call. It includes:
- UGI reported adjusted EPS of $0.03 compared to $0.10 in Q3 2014, impacted by a $0.06 loss from its Totalgaz acquisition.
- Business unit results were mixed - AmeriGas saw lower volume due to warmer weather but higher margins, while UGI International faced acquisition costs and currency impacts.
- Midstream & Marketing had higher natural gas and power margins but lower capacity management income.
- The company reiterated its FY2015 adjusted EPS guidance range of $2.00-$2.10 and provided updates on growth projects.
An update from Schlumberger detailing financial and operating results for 2014 and for the fourth quarter of 2014. The big news, hidden near the end, is that Schlumberger is firing 9,000 people in 2015 to trim payroll costs.
Southwestern Energy Announces First Quarter 2014 Financial And Operating ResultsMarcellus Drilling News
Southwestern Energy announced its financial and operating results for the first quarter of 2014, which set several records. Gas and oil production reached 182.0 Bcfe, up 23% from the previous year. Adjusted net income was $231.4 million, up 58% from the previous year. Net cash from operating activities before changes in assets and liabilities was $616.7 million, up 45% from the previous year. Marcellus Shale production reached 800 MMcf per day, with net production up 147% from the previous year.
Ugi 2015 q3 earnings call presentation v final finalAmeriGas
The document provides information for UGI Corporation's Q3 2015 earnings conference call, including:
- UGI reported adjusted EPS of $0.03 compared to $0.10 in Q3 2014, impacted by a $0.06 loss related to its Totalgaz acquisition.
- Business unit results were mixed - AmeriGas saw lower volume due to warmer weather but higher margins. UGI International was impacted by Totalgaz integration costs and currency effects. Midstream & Marketing saw higher margins.
- UGI reaffirmed its FY2015 adjusted EPS guidance range despite challenges. It continues investing in growth projects like pipelines and LNG facilities totaling over $600 million.
Ugi 2015 q3 earnings call presentation v final finalUGI_Corporation
The document provides information for UGI Corporation's Q3 2015 earnings conference call, including:
- UGI reported adjusted EPS of $0.03 compared to $0.10 in Q3 2014, impacted by a $0.06 loss from its Totalgaz acquisition.
- Business segments like AmeriGas Propane, UGI International, and Midstream & Marketing saw lower earnings due to factors like warmer weather and currency impacts. The Gas Utility saw higher earnings from customer growth.
- UGI has available liquidity of $432.9 million and over $600 million in identified capital projects underway across its businesses to drive future growth.
A quarterly report from EQT Corporation updating investors and others on production and the company's financial postion. During 2Q13, EQT was the second company ever to hit 1 billion cubic feet per day of Marcellus Shale gas production. They also announced they will drill up 22 Upper Devonian Shale wells in 2013--a shale layer a few hundred feet above the Marcellus.
A PowerPoint presentation used by Antero to accompany their second quarter 2014 financial and operational update. This presentation is loaded with great information about one of the major drillers in the Marcellus and Utica Shale region. Antero continues to impress!
Ugi 2015 q3 earnings call presentation v finalUGI_Corporation
The document provides information on UGI Corporation's Q3 2015 earnings conference call. It includes:
- UGI reported adjusted EPS of $0.03 compared to $0.10 in Q3 2014, impacted by a $0.06 loss from its Totalgaz acquisition.
- Business unit results were mixed - AmeriGas saw lower volume due to warmer weather but higher margins, while UGI International faced acquisition costs and currency impacts.
- Midstream & Marketing had higher natural gas and power margins but lower capacity management income.
- The company reiterated its FY2015 adjusted EPS guidance range despite the Totalgaz impact.
Ugi 2015 q3 earnings call presentation v finalAmeriGas
The document provides information on UGI Corporation's Q3 2015 earnings conference call. It includes:
- UGI reported adjusted EPS of $0.03 compared to $0.10 in Q3 2014, impacted by a $0.06 loss from its Totalgaz acquisition.
- Business unit results were mixed - AmeriGas saw lower volume due to warmer weather but higher margins, while UGI International faced acquisition costs and currency impacts.
- Midstream & Marketing had higher natural gas and power margins but lower capacity management income.
- The company reiterated its FY2015 adjusted EPS guidance range of $2.00-$2.10 and provided updates on growth projects.
An update from Schlumberger detailing financial and operating results for 2014 and for the fourth quarter of 2014. The big news, hidden near the end, is that Schlumberger is firing 9,000 people in 2015 to trim payroll costs.
Southwestern Energy Announces First Quarter 2014 Financial And Operating ResultsMarcellus Drilling News
Southwestern Energy announced its financial and operating results for the first quarter of 2014, which set several records. Gas and oil production reached 182.0 Bcfe, up 23% from the previous year. Adjusted net income was $231.4 million, up 58% from the previous year. Net cash from operating activities before changes in assets and liabilities was $616.7 million, up 45% from the previous year. Marcellus Shale production reached 800 MMcf per day, with net production up 147% from the previous year.
Ugi 2015 q3 earnings call presentation v final finalAmeriGas
The document provides information for UGI Corporation's Q3 2015 earnings conference call, including:
- UGI reported adjusted EPS of $0.03 compared to $0.10 in Q3 2014, impacted by a $0.06 loss related to its Totalgaz acquisition.
- Business unit results were mixed - AmeriGas saw lower volume due to warmer weather but higher margins. UGI International was impacted by Totalgaz integration costs and currency effects. Midstream & Marketing saw higher margins.
- UGI reaffirmed its FY2015 adjusted EPS guidance range despite challenges. It continues investing in growth projects like pipelines and LNG facilities totaling over $600 million.
Ugi 2015 q3 earnings call presentation v final finalUGI_Corporation
The document provides information for UGI Corporation's Q3 2015 earnings conference call, including:
- UGI reported adjusted EPS of $0.03 compared to $0.10 in Q3 2014, impacted by a $0.06 loss from its Totalgaz acquisition.
- Business segments like AmeriGas Propane, UGI International, and Midstream & Marketing saw lower earnings due to factors like warmer weather and currency impacts. The Gas Utility saw higher earnings from customer growth.
- UGI has available liquidity of $432.9 million and over $600 million in identified capital projects underway across its businesses to drive future growth.
A quarterly report from EQT Corporation updating investors and others on production and the company's financial postion. During 2Q13, EQT was the second company ever to hit 1 billion cubic feet per day of Marcellus Shale gas production. They also announced they will drill up 22 Upper Devonian Shale wells in 2013--a shale layer a few hundred feet above the Marcellus.
A PowerPoint presentation used by Antero to accompany their second quarter 2014 financial and operational update. This presentation is loaded with great information about one of the major drillers in the Marcellus and Utica Shale region. Antero continues to impress!
Company Presentation - August 2014 (budget update)AnteroResources
This document provides an overview of Antero Resources Corporation, a company focused on developing natural gas and oil resources from the Marcellus and Utica Shales in Appalachia. It discusses Antero's large reserve base of 37.5 trillion cubic feet of gas equivalents, industry-leading production growth and capital efficiency, significant midstream infrastructure investments, and portfolio of firm gas and natural gas liquid takeaway agreements. Antero plans to continue high growth through developing its multi-year drilling inventory across its core acreage positions in the liquids-rich Marcellus and Utica Shales.
EV Energy Partners Investor Presentation at the Credit Suisse MLP and Energy ...Marcellus Drilling News
Investor presentation delivered by EV Energy Partners president and CEO Mark Houser at the June 26, 2013 Credit Suisse MLP and Energy Logistics Conference. In the presentation Houser does an extensive review of EV's Utica Shale strategy and their intention to sell some of their leased acreage.
- Noble Energy reported financial and operational results for Q4 2015, with adjusted net income of $191 million. However, reported net loss was $2.0 billion due to non-cash impairments and other adjustments.
- Q4 sales volumes were a record 422 MBoe/d, with US volumes of 295 MBoe/d and international volumes of 127 MBoe/d.
- Capital expenditures for Q4 were $527 million, below guidance and less than discretionary cash flow and cash from operations. Noble exited Q4 with $5 billion in liquidity including cash.
This document contains a presentation for IPAA's Oil & Gas Symposium on September 30, 2013. It summarizes EV Energy Partners' (EVEP) assets, operational performance, Utica Shale position, midstream investments, and hedging strategy. EVEP has a diverse, long-lived asset base producing 166 Mmcfe/d. It has a significant position in the Utica Shale through working interest acres, overriding royalty interests, and investments in midstream companies like Utica East Ohio and Cardinal Gas Services. EVEP uses commodity hedges to reduce cash flow volatility and support its business plan and distributions.
This document provides an overview of Antero Resources Corporation, including forward-looking statements and risks. It summarizes Antero's position in the Marcellus and Utica Shales, with over 37 Tcfe of reserves across the regions. Antero plans a $3.7 billion 2014 capital budget to accelerate drilling and midstream activities. It has significantly increased production, reserves, and infrastructure since its IPO through successful drilling and strategic acquisitions.
Constellation Energy Partners LLC reported financial and operational results for the fourth quarter and full year of 2013. Key highlights included:
- Oil accounted for 51% of sales revenue in 2013, with average daily oil production up 84% year-over-year.
- Operating costs were $24.69 per BOE for 2013, down 4% from 2012.
- Capital spending of $15.7 million in 2013 resulted in 79 net wells and recompletions.
- The company forecast $20-22 million in capital spending and 1,346-1,552 MBOE of production for 2014, with adjusted EBITDA of $26.7-29.9 million.
Progress Energy reported first quarter 2005 results, with ongoing earnings of $0.52 per share and GAAP earnings of $0.38 per share. Core ongoing earnings, which exclude synthetic fuels, were $0.53 per share, up from $0.45 per share in the prior year. Approximately 1,450 employees elected to retire under a voluntary enhanced retirement program. Progress Energy reaffirmed its 2005 ongoing earnings guidance of $2.90 to $3.20 per share.
Capital Power 2014 Q4 Results Analyst PresentationCapital Power
Feb. 23, 2015: Capital Power Corporation (TSX: CPX) released financial results for the fourth quarter and year ended December 31, 2014. Capital Power hosted a conference call and live webcast with analysts on February 23, 2015 at 11:00 AM (ET) to discuss the fourth quarter results.
An updated PowerPoint from COG presented at the Barclays CEO Energy/Power Conference 2015 in New York City, September 2015. Cabot is one of (perhaps THE) most successful drillers in the Marcellus Shale.
Core Laboratories reported first quarter 2009 results, with year-over-year increases in net income and EPS despite flat revenue. Free cash flow and cash levels reached record highs. While Production Enhancement saw declines due to lower North American drilling, this was largely offset by new product and service acceptance. Reservoir Description and Reservoir Management saw revenue and profit gains internationally.
Capital Power April Investor PresentationCapital Power
Capital Power is an independent power producer with over 3,100 MW of generation capacity across Canada and the US. They have a well-positioned fleet mix including gas, wind and coal assets. Capital Power has a proven track record of operational excellence with high plant availability. They also have a strong financial position and investment grade credit ratings. Capital Power is well positioned to deliver consistent dividend growth going forward as they expand their contracted cash flows.
This document provides an overview and summary of Capital Power for investors. Some key points:
- Capital Power owns and operates over 3,200 MW of power generation capacity in Canada and the US, including coal, gas, and wind facilities.
- The company has a well-positioned, contracted asset portfolio that generates strong cash flows and supports annual dividend growth. Contracted cash flows are expected to significantly increase through 2015-2017 with new additions.
- Capital Power has a solid financial position with investment grade credit ratings, a conservative capital structure, and discretionary cash flow to fund growth opportunities and dividend increases.
- Alberta's power market fundamentals remain strong long-term due to oil and gas development
Southwestern Energy's 2013 Q413 and Full Year 2013 Financial/Operational UpdateMarcellus Drilling News
Southwestern Energy's fourth quarter and full year 2013 financial and operational update, which shows the Marcellus Shale is an increasingly large part of the company's focus. Southwestern spud 108 wells in 2013, spent an average $7 million to complete a Marcellus Shale well, and increased both production and proven reserves last year.
The document provides an overview of Antero Resources Corporation, including:
- Antero has significant reserves of 37.5 Tcfe primarily in the Marcellus and Utica shale plays with strong production growth.
- The company has industry-leading capital efficiency and a top quartile return on productive capital.
- Antero has significant midstream infrastructure and secured firm transportation for its gas and NGL production.
The document provides an overview of Antero Resources Corporation, including:
- Antero has significant reserves of 37.5 Tcfe primarily in the Marcellus and Utica shale plays with strong production growth.
- The company has industry-leading capital efficiency and a top quartile return on productive capital, with low development costs and a high growth-adjusted recycle ratio.
- Antero has invested heavily in midstream infrastructure like processing plants and pipelines to support its production and has secured significant firm transportation contracts.
The document provides an overview of Antero Resources Corporation, including:
- Antero has significant reserves of 37.5 Tcfe primarily in the Marcellus and Utica shale plays with high potential for further reserve growth.
- Production has grown significantly from 566 MMcfe/d in 3Q 2013 to 891 MMcfe/d currently due to a focus on liquids-rich development across its acreage.
- Antero has leading capital efficiency with a low average development cost of $1.15/Mcfe and industry-leading recycle ratio of 4.8x, supporting high returns on productive capital.
The document summarizes Greg Garland's presentation at the 2015 Credit Suisse Energy Summit. Some key points include:
- Phillips 66 achieved strong execution and returns in 2014 through growth projects, reliable operations, and returning $4.7 billion to shareholders.
- The company is well positioned for continued growth in midstream and chemicals through major projects coming online in 2015-2018.
- Refining will focus on improving yields and accessing advantaged crudes while chemicals benefits from low ethane prices and projects.
- The portfolio is expected to shift toward higher-value midstream, chemicals and marketing businesses by 2018 with over 30% EBITDA growth projected.
Phillips 66 executed on its growth strategy in 2014 through a $4 billion capital program. This included expanding midstream infrastructure and chemical plant capacity. The company also improved operating excellence across its businesses. Looking ahead, Phillips 66 plans additional growth investments in midstream and chemicals through 2018 expected to increase adjusted EBITDA. The company will continue returning capital to shareholders through dividends and share repurchases while maintaining a strong balance sheet.
NT2580 Week 1 Understanding IT Infrastructure Security An.docxhenrymartin15260
NT2580: Week 1 Understanding IT Infrastructure Security
Analysis 1.1
Case Study
1
In March 2010, 28 year-old Albert Gonzalez was sentenced to 20 years in federal prison for breaching
security measures at several well-known retailers and stealing millions of credit card numbers, which he then
resold across a variety of shadow “carding” Web sites. Using a fairly simple packet sniffer, Gonzalez was able
to steal payment card transaction data in real time, which he then parked on blind servers in places such as
Latvia and Ukraine—countries formerly part of the Soviet Union. Gonzalez named his activities “Operation
Get Rich or Die Tryin'” and lived a lavish lifestyle by selling stolen credit card information. He was eventually
tracked down by the U.S. Secret Service, which was investigating the stolen card ring. Operation Get Rich or
Die Tryin' took place for more than two years and cost major retailers, such as TJX, OfficeMax, Barnes &
Noble, Heartland, and Hannaford, more than $200 million in losses and recovery costs. It is the largest
computer crime case ever prosecuted.
At first glance, Operation Get Rich or Die Tryin' seems to be an open-and-shut case. A hacker commits a
series of cybercrimes, is caught, and is successfully prosecuted. Fault and blame are assigned to the
cybercriminal, and justice is served for the corporations and the millions of people whose credit card
information was compromised.
Unless you ask the shareholders, banking partners, and some customers of TJX, who filed a series of class-
action lawsuits against the company claiming that the “high-level deficiencies” in its security practices make it
at least partially responsible for the damages caused by Albert Gonzalez and his accomplices. The lawsuits
point out, for example, that the packet sniffer Gonzalez attached to the TJX network went unnoticed for more
than seven months. Court documents also indicate that TJX failed to notice more than 80 GB of stored data
being transferred from its servers using TJX’s own high-speed network. Finally, an audit performed by TJX’s
payment-card processing partners found that it was noncompliant with 9 of the 12 requirements for secure
payment card transactions. TJX’s core information security policies were found to be so ineffective that the
judge presiding over sentencing hearing of Gonzalez reviewed them to determine whether TJX’s damages
claim against him of $171 million is valid.
Apart from lawsuits, TJX faced a serious backlash from customers and the media when the details of the
scope of the breaches trickled out. Customers reacted angrily when they learned that nearly six weeks had
passed between the discovery of the breach and its notification to the public. News organizations ran
headline stories that painted a picture of TJX as a clueless and uncaring company. Consumer organizations
openly warned people not to shop at TJX stores. TJX’s reputation and brand.
This document discusses a technology plan for Ace Real Estate Agency located in Kodiak, Alaska. The agency plans to utilize social media, microblogging, and e-commerce to gain customers and sell homes more effectively than competitors. Microsoft Dynamic CRM is selected as the customer relationship management software to track customers, provide good service, and streamline key processes like offline data access and instant messaging. The software will be used on Windows desktops and Apple iPads to give agents mobile accessibility while showing homes to customers.
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This document provides an overview of Antero Resources Corporation, a company focused on developing natural gas and oil resources from the Marcellus and Utica Shales in Appalachia. It discusses Antero's large reserve base of 37.5 trillion cubic feet of gas equivalents, industry-leading production growth and capital efficiency, significant midstream infrastructure investments, and portfolio of firm gas and natural gas liquid takeaway agreements. Antero plans to continue high growth through developing its multi-year drilling inventory across its core acreage positions in the liquids-rich Marcellus and Utica Shales.
EV Energy Partners Investor Presentation at the Credit Suisse MLP and Energy ...Marcellus Drilling News
Investor presentation delivered by EV Energy Partners president and CEO Mark Houser at the June 26, 2013 Credit Suisse MLP and Energy Logistics Conference. In the presentation Houser does an extensive review of EV's Utica Shale strategy and their intention to sell some of their leased acreage.
- Noble Energy reported financial and operational results for Q4 2015, with adjusted net income of $191 million. However, reported net loss was $2.0 billion due to non-cash impairments and other adjustments.
- Q4 sales volumes were a record 422 MBoe/d, with US volumes of 295 MBoe/d and international volumes of 127 MBoe/d.
- Capital expenditures for Q4 were $527 million, below guidance and less than discretionary cash flow and cash from operations. Noble exited Q4 with $5 billion in liquidity including cash.
This document contains a presentation for IPAA's Oil & Gas Symposium on September 30, 2013. It summarizes EV Energy Partners' (EVEP) assets, operational performance, Utica Shale position, midstream investments, and hedging strategy. EVEP has a diverse, long-lived asset base producing 166 Mmcfe/d. It has a significant position in the Utica Shale through working interest acres, overriding royalty interests, and investments in midstream companies like Utica East Ohio and Cardinal Gas Services. EVEP uses commodity hedges to reduce cash flow volatility and support its business plan and distributions.
This document provides an overview of Antero Resources Corporation, including forward-looking statements and risks. It summarizes Antero's position in the Marcellus and Utica Shales, with over 37 Tcfe of reserves across the regions. Antero plans a $3.7 billion 2014 capital budget to accelerate drilling and midstream activities. It has significantly increased production, reserves, and infrastructure since its IPO through successful drilling and strategic acquisitions.
Constellation Energy Partners LLC reported financial and operational results for the fourth quarter and full year of 2013. Key highlights included:
- Oil accounted for 51% of sales revenue in 2013, with average daily oil production up 84% year-over-year.
- Operating costs were $24.69 per BOE for 2013, down 4% from 2012.
- Capital spending of $15.7 million in 2013 resulted in 79 net wells and recompletions.
- The company forecast $20-22 million in capital spending and 1,346-1,552 MBOE of production for 2014, with adjusted EBITDA of $26.7-29.9 million.
Progress Energy reported first quarter 2005 results, with ongoing earnings of $0.52 per share and GAAP earnings of $0.38 per share. Core ongoing earnings, which exclude synthetic fuels, were $0.53 per share, up from $0.45 per share in the prior year. Approximately 1,450 employees elected to retire under a voluntary enhanced retirement program. Progress Energy reaffirmed its 2005 ongoing earnings guidance of $2.90 to $3.20 per share.
Capital Power 2014 Q4 Results Analyst PresentationCapital Power
Feb. 23, 2015: Capital Power Corporation (TSX: CPX) released financial results for the fourth quarter and year ended December 31, 2014. Capital Power hosted a conference call and live webcast with analysts on February 23, 2015 at 11:00 AM (ET) to discuss the fourth quarter results.
An updated PowerPoint from COG presented at the Barclays CEO Energy/Power Conference 2015 in New York City, September 2015. Cabot is one of (perhaps THE) most successful drillers in the Marcellus Shale.
Core Laboratories reported first quarter 2009 results, with year-over-year increases in net income and EPS despite flat revenue. Free cash flow and cash levels reached record highs. While Production Enhancement saw declines due to lower North American drilling, this was largely offset by new product and service acceptance. Reservoir Description and Reservoir Management saw revenue and profit gains internationally.
Capital Power April Investor PresentationCapital Power
Capital Power is an independent power producer with over 3,100 MW of generation capacity across Canada and the US. They have a well-positioned fleet mix including gas, wind and coal assets. Capital Power has a proven track record of operational excellence with high plant availability. They also have a strong financial position and investment grade credit ratings. Capital Power is well positioned to deliver consistent dividend growth going forward as they expand their contracted cash flows.
This document provides an overview and summary of Capital Power for investors. Some key points:
- Capital Power owns and operates over 3,200 MW of power generation capacity in Canada and the US, including coal, gas, and wind facilities.
- The company has a well-positioned, contracted asset portfolio that generates strong cash flows and supports annual dividend growth. Contracted cash flows are expected to significantly increase through 2015-2017 with new additions.
- Capital Power has a solid financial position with investment grade credit ratings, a conservative capital structure, and discretionary cash flow to fund growth opportunities and dividend increases.
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Southwestern Energy's fourth quarter and full year 2013 financial and operational update, which shows the Marcellus Shale is an increasingly large part of the company's focus. Southwestern spud 108 wells in 2013, spent an average $7 million to complete a Marcellus Shale well, and increased both production and proven reserves last year.
The document provides an overview of Antero Resources Corporation, including:
- Antero has significant reserves of 37.5 Tcfe primarily in the Marcellus and Utica shale plays with strong production growth.
- The company has industry-leading capital efficiency and a top quartile return on productive capital.
- Antero has significant midstream infrastructure and secured firm transportation for its gas and NGL production.
The document provides an overview of Antero Resources Corporation, including:
- Antero has significant reserves of 37.5 Tcfe primarily in the Marcellus and Utica shale plays with strong production growth.
- The company has industry-leading capital efficiency and a top quartile return on productive capital, with low development costs and a high growth-adjusted recycle ratio.
- Antero has invested heavily in midstream infrastructure like processing plants and pipelines to support its production and has secured significant firm transportation contracts.
The document provides an overview of Antero Resources Corporation, including:
- Antero has significant reserves of 37.5 Tcfe primarily in the Marcellus and Utica shale plays with high potential for further reserve growth.
- Production has grown significantly from 566 MMcfe/d in 3Q 2013 to 891 MMcfe/d currently due to a focus on liquids-rich development across its acreage.
- Antero has leading capital efficiency with a low average development cost of $1.15/Mcfe and industry-leading recycle ratio of 4.8x, supporting high returns on productive capital.
The document summarizes Greg Garland's presentation at the 2015 Credit Suisse Energy Summit. Some key points include:
- Phillips 66 achieved strong execution and returns in 2014 through growth projects, reliable operations, and returning $4.7 billion to shareholders.
- The company is well positioned for continued growth in midstream and chemicals through major projects coming online in 2015-2018.
- Refining will focus on improving yields and accessing advantaged crudes while chemicals benefits from low ethane prices and projects.
- The portfolio is expected to shift toward higher-value midstream, chemicals and marketing businesses by 2018 with over 30% EBITDA growth projected.
Phillips 66 executed on its growth strategy in 2014 through a $4 billion capital program. This included expanding midstream infrastructure and chemical plant capacity. The company also improved operating excellence across its businesses. Looking ahead, Phillips 66 plans additional growth investments in midstream and chemicals through 2018 expected to increase adjusted EBITDA. The company will continue returning capital to shareholders through dividends and share repurchases while maintaining a strong balance sheet.
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NT2580 Week 1 Understanding IT Infrastructure Security An.docxhenrymartin15260
NT2580: Week 1 Understanding IT Infrastructure Security
Analysis 1.1
Case Study
1
In March 2010, 28 year-old Albert Gonzalez was sentenced to 20 years in federal prison for breaching
security measures at several well-known retailers and stealing millions of credit card numbers, which he then
resold across a variety of shadow “carding” Web sites. Using a fairly simple packet sniffer, Gonzalez was able
to steal payment card transaction data in real time, which he then parked on blind servers in places such as
Latvia and Ukraine—countries formerly part of the Soviet Union. Gonzalez named his activities “Operation
Get Rich or Die Tryin'” and lived a lavish lifestyle by selling stolen credit card information. He was eventually
tracked down by the U.S. Secret Service, which was investigating the stolen card ring. Operation Get Rich or
Die Tryin' took place for more than two years and cost major retailers, such as TJX, OfficeMax, Barnes &
Noble, Heartland, and Hannaford, more than $200 million in losses and recovery costs. It is the largest
computer crime case ever prosecuted.
At first glance, Operation Get Rich or Die Tryin' seems to be an open-and-shut case. A hacker commits a
series of cybercrimes, is caught, and is successfully prosecuted. Fault and blame are assigned to the
cybercriminal, and justice is served for the corporations and the millions of people whose credit card
information was compromised.
Unless you ask the shareholders, banking partners, and some customers of TJX, who filed a series of class-
action lawsuits against the company claiming that the “high-level deficiencies” in its security practices make it
at least partially responsible for the damages caused by Albert Gonzalez and his accomplices. The lawsuits
point out, for example, that the packet sniffer Gonzalez attached to the TJX network went unnoticed for more
than seven months. Court documents also indicate that TJX failed to notice more than 80 GB of stored data
being transferred from its servers using TJX’s own high-speed network. Finally, an audit performed by TJX’s
payment-card processing partners found that it was noncompliant with 9 of the 12 requirements for secure
payment card transactions. TJX’s core information security policies were found to be so ineffective that the
judge presiding over sentencing hearing of Gonzalez reviewed them to determine whether TJX’s damages
claim against him of $171 million is valid.
Apart from lawsuits, TJX faced a serious backlash from customers and the media when the details of the
scope of the breaches trickled out. Customers reacted angrily when they learned that nearly six weeks had
passed between the discovery of the breach and its notification to the public. News organizations ran
headline stories that painted a picture of TJX as a clueless and uncaring company. Consumer organizations
openly warned people not to shop at TJX stores. TJX’s reputation and brand.
This document discusses a technology plan for Ace Real Estate Agency located in Kodiak, Alaska. The agency plans to utilize social media, microblogging, and e-commerce to gain customers and sell homes more effectively than competitors. Microsoft Dynamic CRM is selected as the customer relationship management software to track customers, provide good service, and streamline key processes like offline data access and instant messaging. The software will be used on Windows desktops and Apple iPads to give agents mobile accessibility while showing homes to customers.
NT2580 Week 4 Hardening a NetworkAnalysis 4.2Availability, In.docxhenrymartin15260
NT2580: Week 4 Hardening a Network
Analysis 4.2
Availability, Integrity, or Confidentiality (A-I-C)
Instructions:
Given the network security applications and countermeasures in the first column of the table below, explore answers to the following questions:
· Where does the countermeasure belong in the seven domains of a typical IT infrastructure?
· What CIA functions does the countermeasure provide?
Provide your answers in the table below.
Network Security Applications and Countermeasures
Domains
CIA Function
Ethical hacker
Intrusion detection system/intrusion prevention system (IDS/IPS)
Access controls
Failover server
Automatic updates
Cryptography
Data backups
Logon rights
Computer cluster
Firewalls
Proxies
Antivirus scanners
As a reminder, the seven domains of a typical IT infrastructure include the following domains:
1. User Domain: Actual users
1. Workstation Domain: Workstations, laptops, and end-point devices, such as smartphones and printers
1. LAN Domain: Physical and logical LAN technologies—100 Mbps/1000 Mbps switched Ethernet, 802.11-family of wireless LAN technologies—used to support workstation connectivity to the organization’s network infrastructure
1. LAN-to-WAN Domain: Routers, firewalls, demilitarized zones (DMZs), and IDS/IPS
1. WAN Domain: Routers, circuits, switches, firewalls, gateways, and equivalent gear at remote locations, sometimes under a managed service offering by the service provider
1. Remote access Domain: Virtual private networks (VPNs), laptops with VPN software, and secured socket layer/VPN (SSL/VPN) tunnels
1. System/Application Domain: Hardware, operating system software, database software, client/server applications, and data that are typically housed in the organization’s data center and computer rooms
Representation of the Seven Domains of a Typical IT Infrastructure
1
.
NTNU, May 2009 ntnu.nocbm 1 LEARNING AND MEMORY .docxhenrymartin15260
NTNU, May 2009 ntnu.no/cb
m
1
LEARNING AND MEMORY
- Cellular and molecular mechanisms
Øyvind Høydal
NTNU, May 2009 ntnu.no/cb
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2
What is learning and memory?
Learning can be defined as acquisition of new
knowledge or skills and/or changes in behaviour as
a result of experience.
Memory refers to the storage and retrieval of
learned knowledge, skills or behaviours.
NTNU, May 2009 ntnu.no/cb
m
3
NTNU, May 2009 ntnu.no/cb
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4
Information and skills are stored within the networks
of neurons in the brain.
When we learn, changes take place that alters the way
neurons communicate with eachother.
Can you guess what changes take place?
NTNU, May 2009 ntnu.no/cb
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5
Cellular plasticity in learning
and memory
The efficacy of signalling between neurons are altered.
New synapses form
New neurons?
NTNU, May 2009 ntnu.no/cb
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6
Aplysia californica as a model system for
cellular learning and memory
Studying cellular mechanisms for learning and memory in the mammalian
brain is a formidable challenge due to the enormous number of neurons and
the complexity of synaptic connections.
Aplysia californica is an advantagous model organism because:
- Neurons are quite few (20 000) and can be identified in the circuit.
- Neurons are rather big, making them readily accessable
for in vivo intracellular recordings
NTNU, May 2009 ntnu.no/cb
m
7
The gill-siphon reflex in aplysia offers a great
opportunity to link changes in neurons and
synapses with a behavioral output.
When a mechanical stimulus
is applied to the siphon, the
slug responds by withdrawing
its gill.
NTNU, May 2009 ntnu.no/cb
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8
Gill-siphon-withdrawal reflex
S
M
Tactile
NTNU, May 2009 ntnu.no/cb
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9
The synapse and some common forms of short-
term synaptic plasticity
Synaptic facilitation: rapid increase in synaptic strength when two APs arrive at the axon terminal
within a short interval of time. Increased Ca+ -influx causes more transmitter substance to be
released.
Synaptic depression: neurotransmitter release decline with sustained stimulation. A possible
mechanism might be depletion of neurotransmitter-containing vesicles in the presynaptic neuron.
Augementation (acts over seconds) and potentation (post-tetanic, acts over minutes) are other forms
of short-term plasticity that enhance transmitter release due to prolonged and increased Ca+ levels.
NMDA
AMPA
AMPA
Na+
AP
Ca+ Ca+ Ca
+
Na+
Na+
NTNU, May 2009 ntnu.no/cb
m
10
Habituation in Aplysia
Habituation: reduced response to a stimulus that is neither harmful nor
beneficial.
In Aplysia: if the siphon is touched repeatedly, the snail will eventually stop
withdrawing its gill.
The response in the sensory neuron is mostly unchanged, so the habituating
effect on behaviour is likely to be mediated by a.
nowHow to be Army StrongI was 18 years old when I saw my fa.docxhenrymartin15260
now
How to be Army Strong
I was 18 years old when I saw my favorite uncle in his uniform. I could see how much respect he got and how strong of a man he was and I wanted that for myself. I asked him how could I become strong like he was. He said to me, it’s not going to be an easy job. I would have to leave my family, friends and everything behind to fight for my country Saudi Arabia.
The first thing I needed was talk with a recruiter. He tried to make me see how difficult this walk was going to be. I believed the hard work would make me strong just like my uncle. We started off with a whole lot of questions. I filled out many different types of paperwork. The paper work included: criminal background checks, medical history, family history, and job history. I had to take a test to see if I was smart enough for the army. I think it was similar to the test soldiers take in America. It asked questions from basic mechanics, computers, cooking, and all general studies. Its purpose was to find out what job I could choose. I passed the test and then I was able to pick a job. I had my pick of a lot of different jobs but I chose to be a machine gunner. Then, after I chose my job, I signed my contract. After that, I was told to come back in two weeks for a drug test and medical test to see if I was fit for the Army. I had to do psychological testing and the doctor checked everything on my body I received my stamp and it was on to basic training.
The second step in becoming Army strong is going to basic training. There are three phases to go through. I arrived to the training camp called Reception. At Reception I received all of my equipment and clothing. I was assigned to the company where I would learn all about being a soldier. The first day I received a haircut and was taught how to properly exercise and gain strength of my body by doing Physical Training. I started learning how to run long distances and how to breathe the right way so I would not get too tired. I did not enjoy ring but I had to do it. After that I issued a M16 Assault Rifle. I took training classes on how to clean, fix and shoot. The next step was learning about the history of the Army and all the things it takes to make up a true soldier. I went through many field exercises where I learned about teamwork. The men were like brothers; we helped each other like a family I participated in rappelling, nuclear biological defense and weapons training. The next step was learning drill, which is how I am supposed to present my self in parades, when we march and at funerals. After that we learned tactics and techniques to stay alive. Then I learned medical training. I had to learn CPR, Heimlich maneuver, wound care and many other forms of medical procedures. The next stage I learned was radio communication. Radio communication is how I can communicate with other soldiers on a mission in the field. Then I learned combat fighting. I used bayonets, padded sticks and hand and hand comba.
NR-351 Transitions in Professional NursingWebsite Evaluation T.docxhenrymartin15260
NR-351: Transitions in Professional Nursing
Website Evaluation Template
Student Name:Date:
Directions:
1. Carefully read the Website Evaluation Guidelines found in Doc Sharing. This provides specific details on how to complete this assignment.
2. Rename this document by clicking “Save As.” Change the file name so it reads Your Last Name Website Evaluation.docx. For example, if your last name is Smith, type “Smith Website Evaluation.docx”.
3. Save the document in a file format compatible with Microsoft Word 2010 or later.
4. Type your name and date at the top of this template.
5. Type your answers directly on the saved and renamed template. Follow all instructions. Save frequently to prevent loss of your work.
6. Submit to the Dropbox by the end of Week 6, Sunday at 11:59 p.m. MT.
7. Post questions about this assignment to the Q & A Forum so your classmates can read the advice, too. You may also e-mail questions to your instructor.
Item instructions:
Type your answers below:
General Information:
State the search engine used to locate the website and the URL of the homepage of the selected website.
URL must link to homepage when copied or clicked.
Authority:
Describe the reasons this website would be considered a reliable resource for information on the topic. Include contact information (group name, address, and phone number).
Information:
Describe information presented on the website including all of the main headings of the site. Describe accuracy and thoroughness of information and how you made this determination.
Objectivity:
Explain how content does or does not represent bias based on advertising and sponsorship.
Ease of Navigation:
Discuss the ease of use of this website for healthcare professionals and for lay persons. Differentiate the ease of navigation for each of these two groups.
Usefulness:
Describe how useful the information on this website is for healthcare professionals and for lay persons. Differentiate usefulness for each of these two groups.
Website Evaluation Template.docx Revised 2/9/2013 cjm
1
Website Evaluation GuidelinesPurpose
The purpose of this assignment is to allow the learner to demonstrate effective strategies for evaluation of credible scholarly websites. Course Outcomes
This assignment enables the student to meet the following course outcomes.
1. Demonstrate effective verbal, written, and technological communication using legal and ethical standards for transferring knowledge. (PO #3)
2. Use leadership strategies that promote quality nursing practice and increase collaboration with other disciplines when planning comprehensive care for individuals and groups. (PO #2)
4. Integrate critical thinking and judgment in professional decision-making in collaboration with faculty and peers. (PO #4)
6. Relate application of the legal and ethical requirements of nursing laws and standards to interactions with faculty, peers, and.
Ntc 362 Week 2, Integrative Network Design Project , Part 1By Alucard1990 | Studymode.com
Kudler Fine Foods Network Overview
Name
University of Phoenix
NTC 362
Date
Instructor
Upon reviewing Kudler Fine Food network, it has been determined that a major network overhaul will need to be conducted to make sure that Kudler is brought up to speed with the latest technology. This is very important because if Kudler is unable to keep up with the technological advances then the company will fall behind. Making sure that Kudler is not only able to keep up with the advances with network systems it is also important to install the proper systems so that no money is wasted. What is meant by this is that if the improper systems and storage units are installed to only handle data over the next year this is only going to force Kudler to spend more money in upgrades in the future. This is why it is vital to install the proper systems that will provide room for future network expansion without having to waste money on unnecessary upgrades. The following is a list of problem areas with the Kudler network: • 56K modems provide slow connections speeds
• Host systems at all site running Window 98 – over 10 years old • Windows NT servers are at the Delmar and Lajolla sites – over 10 years old. • The XLS servers at the Delmar and Lajolla sites are running Office 97 – over 15 years old. • The Novell Servers at the Delmar and Lajolla sites are running this was released in 1994. – over almost 20 years old. • All sites have a stand lone ups system that will need upgraded to provide a redundant power supply to support new systems.
One of the first things that were noticed was that fact that all of the sites are still running 56k modems. This is an old technology and is only hindering the speed between each site. Having the proper connection speed is vital to provide real time updates not only for the profits made each day, but providing the inventory updates on the products that are sold so that those items can be restocked without waiting. These modems will be removed to make the way for the new wide area network and within each site there will be a wireless local area network. The WAN will link all of the site networks together which will in turn boost the network speed and the way employees communicate. The communication aspect of the new network will incorporate a VoIP system and will be managed at one central location. “The great thing about VoIP is that it taps additional value from the already existing infrastructure without additional costs” This will provide the highest quality of phone network will saving on the cost of out phone services.
Another issue that issue that is hindering the speed and efficiency on the network is the fact that all the host systems being used within all the sites are Windows 98. These systems are well over ten years old and a.
NTHEMIND OF GREATCOMPANIESBy Scott BlanchardThe.docxhenrymartin15260
NTHE
MIND OF GREAT
COMPANIES?
By Scott Blanchard
T
he old saying, "money isn't
everything," rings hollow in
today's business world.
where rninute-by-minute
stock quotes scroll across
our computer monitors, and
careers are won or lost based
on Wall Street's analysis of a
company's perforniance. Throw in giob-
al competition, outdated products and
services, increased costs, corporate silos
and other business challenges, and it's
no wonder that tnatiy of today's compa-
nies focus solely on their bottom line,
ofteti at the expense of customer service
and employee satisfaction.
It need not be this way. Great compa
nies focus on more than one bottom
line when gauging their perforniance.
Ttiey choose to be not only the invest-
ment of choice, but also the provider of
choice for their products or services, as
well as the employer of choice for work-
ers in their industry. By looking beyond
immediate, short term results and focus-
ing on strategies to make their compa-
nies successful for the long-term, they
recognize challenges sooner, identify
solutions more quickly and deliver re-
sults ahead of their competitors. In short,
they learn to lead at a higher level.
A clear warning sign that your busi-
ness is trapped in a short-term mindset
is the presence of an "either/or" philoso-
phy. Managers either believe they can
achieve profitability or they can develop
a great workplace, but not both. These
leaders don't always take morale and job
satisfaction into consideration. Their
focus is only their financial bottom line.
From there, it's a short leap to the false
notion tlrat making money is the sole
reason to be in business.
A NEW APPROACH
Contrary to the either/or philosophy,
leading at a higher level requires man-
agers to embrace a "both/and" approach.
In great companies, the development of
people is of equal importance to finan-
cial performance. As a result, the focus
is on long-term results and human satis-
faction. Accordingly, great companies
begin by both creating and nurturing a
vision of the future, and then measuring
progress against that vision.
There are three questions to ask,
which represent the main components
of a corporate vision. By focusing on
these questions, companies are more
likely to ensure they don't lose sight of
their path to success. They are:
• What business are you in? This will
help you identify your company's signif-
icant purpose.
• What will the future look like if you
are successful?
• What guides your behavior and deci-
sions on a daily basis? This will help
you identify clear values.
Great companies keep al! three of
these ideas clearly in mind and make
necessary course corrections when they
realize they are off track.
The next step is to create a corporate
culture that both reflects and reinforces
the corporate vision. The culture con-
sists of the values, attitudes, beliefs,
behaviors and practices of the organiza-
tion's members. Culture is an organiza-
tion's personality, and it can help or hin-
.
nR E E 693 5T o c o m p l e t e th i s e x a m y o u n.docxhenrymartin15260
n
R E E 693 5
T o c o m p l e t e th i s e x a m y o u n e e d t o a n s w e r 8 q u e s t i o n l i s t e d b e lo w . T h e
f i r s t t w o q u e s t i o n s a r e t o b e a n s w e r e d i n E x c e l u s i n g th e a s s o c ia t e d t a b s
i n c l u d e d o n t h e e x a m R E E 6935 t h a t i s p r o v i d e d t o y o u q u e s t i o n 3
- 8 a r e
t o b e a n s w e r e d o n a Wo r d D o c u m e n t i n t h e o r d e r i n w h ic h t h e y a p p e a r .
D u e A p r i l 28 , 2015 .
1. ) (9 P o i n t s ) U s i n g t h e d a t a p r o v i d e d t o y o u i n t h e P r o b l e m 1 t a b ,
c a lc u la t e t h e r e q u e s t e d v a l u e s a n d i n c l u d e y o u r a n s w e r i n th e i r
r e s p e c t i v e c e l ls h i gh l ig h t e d i n y e l lo w .
2 . ) (10 P o i n t ) T h e t a b la b e l e d P r o b l e m 2 i n c l u d e s m o n t h ly p r i c e d a t a o n
th e SA P 500 (SPY ) a s w e l l a s o n K B H o m e (K B H , a r e a l e s t a t e
d e v e lo p m e n t c o m p a n y ) a n d o n H o m e P r o p e r t i e s I n c . (H M E , a n d e q u i t y
R E I T s p e c ia l i z e s i n a p a r tm e n t r e n t a ls ) . U s i n g r e g r e s s i o n c a l c u l a t e t h e
B e t a o f e a c h o f t h e s e 2 r e a l e s t a t e c o m p a n ie s f o r t h e f u l l t im e p e r i o d
p r o v id e d t o y o u .
a . D is p l a y y o u r c a l c u l a t e d B e t a s i n t h e c e ll s h i g h l igh t e d i n y e l l o w .
Y o u m a y i n c l u d e y o u r f u l l r e g r e s s i o n r e s u l t s i n t w o o th e r s e p a r a t e
t a b s
b . W h i c h c o m p a n y h a s a h i g h e r B e t a ? I n o n e t o tw o s e n t e n c e s
e x p l a i n w h y y o u d id o r d i d n
'
t e x p e c t t h a t c o m p a n y t o b e
a s s o c ia t e d w i t h a h ig h e r B e t a .
3 . (10 P o i n t s ) P l e a s e r e f e r t o t h e p a p e r t it l e d O n t h e R e la t i o n b e t w e e n
L o c a l A m e n i t ie s a n d H o u s i n g P r ic e C h a n g e s
"
p r o v i d e d t o y o u w i t h t h i s
e x a m a n d a n s w e r t h e f o l lo w i n g q u e s t io n s .
a . B r i e f ly e x p l a i n w h a t w e c a n l e a r n f r o m F ig u r e 2 ? A r e t h e s e
r e s u l t s e x p e c t e d ? Wh y ?
b . B r i e f ly e x p l a i n w h a t w e c a n l e a r n f r o m f i g u r e 4? A r e t h e s e r e s u l t s
e x p e c t e d ? W hy ?
c . B r i e f ly e x p l a i n w h a t w e c a n l e a r n f r o m t h e r e g r e s s i o n r e s u l t s
p r e s e n t e d i n c o l u m n (4) o f t a b l e 4 . H o w t h e s e r e s u lt s a r e d if f e r e n t
f r o m t h e r e s u l t s p r e s e n t e d i n c o l u m n (2) o f t a b le 4?
d . B r i e f l y e x p l a i n w h a t w e c a n l e a r n f r o m t a b l e 6 t h a t w e d o n
'
t
a l r e a d y k n o w f r o m t h e r e s u l t s p r e s e n t e d i n t h e p r e v i o u s t a b l e s .
NEATPAGEINFO:id=C46A481D-C837-496A-BF88-1036B1B658D9
NEATPAGEINFO:id=1C69E900-548F-4525.
NR360 We Can But Dare We.docx Revised 5 ‐ 9 .docxhenrymartin15260
NR360 We Can But Dare We.docx Revised 5 ‐ 9 ‐ 16 DA/LS/psb 07.14.16 1
NR360 INFORMATION SYSTEMS IN HEALTHCARE
Required Uniform Assignment: We Can, but Dare We?
PURPOSE
The purpose of this assignment is to investigate smartphone and social media use in healthcare and to
apply professional, ethical, and legal principles to their appropriate use in healthcare technology.
Course Outcomes
This assignment enables the student to meet the following course outcomes.
• CO #4: Investigate safeguards and decision‐making support tools embedded in patient
care technologies and information systems to support a safe practice environment for
both patients and healthcare workers. (PO 4)
• CO #6: Discuss the principles of data integrity, professional ethics, and legal
requirements related to data security, regulatory requirements, confidentiality, and
client’s right to privacy. (PO 6)
• CO #8: Discuss the value of best evidence as a driving force to institute change in the
delivery of nursing care (PO 8)
DUE DATE
See Course Schedule in Syllabus. The college’s Late Assignment Policy applies to this activity.
TOTAL POINTS POSSIBLE
This assignment is worth a total of 240 points.
Requirements
1. Research, compose, and type a scholarly paper based on the scenario described below, and
choose a conclusion scenario to discuss within the body of your paper. Reflect on lessons
learned in this class about technology, privacy concerns, and legal and ethical issues and
addressed each of these concepts in the paper, reflecting on the use of smartphones and social
media in healthcare. Consider the consequences of such a scenario. Do not limit your review of
the literature to the nursing discipline only because other health professionals are using the
technology, and you may need to apply critical thinking skills to its applications in this scenario.
2. Use Microsoft Word and APA formatting. Consult your copy of the Publication Manual of the
American Psychological Association, sixth edition, as well as the resources in Doc Sharing if you
have questions (e.g., margin size, font type and size (point), use of third person, etc.). Take
NR360 INFORMATION SYSTEMS IN HEALTHCARE
NR360 We Can But Dare We.docx Revised 5 ‐ 9 ‐ 16 DA/LS/psb 07.14.16 2
advantage of the writing service SmartThinking, which is accessed by clicking on the link called
the Tutor Source, found under the Course Home area.
3. The length of the paper should be four to five pages, excluding the title page and the reference
page. Limit the references to a few key sources (minimum of three required).
4. The paper will contain an introduction that catches the attention of the reader, states the
purpose of the paper, and provides a narrative outline of what will follow (i.e., the assignment
criteria).
5. In the body of the paper, discuss the scenario in relation to HIPAA, leg.
n
s;
,e
il
rl
t.
lnterviewing is one HR function that
almost all managers are involved
with at some point. Here are some
tips for conducting interviews that
identify the best candidates:
. Be prepared-Make sure the
place where you interview is
accessible and comfortable
for you and the candidate.
Read the candidate's r6sum6
and other paperwork ahead
of time, to avoid asking for
information that has already
been provided. Prepare a list
of questions, as well as infor-
mation about the company's
history, culture, and other
details the candidate might be
interested in knowing.
t Put the applicant at ease- A
nervous or cautious job candi-
eate !'!':ay not show his or her
es. qua\itres. Express your
appreciation tor the candr-
date's time, and let the person
know you're glad to meet him
'';
i- i lr'
or her. Briefly explain what to
expect during the interview.
. Ask about past behaviors-
Talking about specific events
makes it harder for a candidate
to focus on guessing what the
interviewer wants to hear, and
the answers give clues about
what the candidate will do in
new situations. For examPle,
depending on the type of job,
you might ask, "Ptease telt
me about a time when you
received a customer comPlaint
and how you handled it," or
"This job involves tight dead-
lines; could you tell me about
a time when you faced a dif-
ficult deadtine?"
. Listen-fhe interview infor-
mation is only as good as the
interviewer's ability to gather
it. Let the candidate do most
oi \he ta\krng, and par; atten-
tion to what is being said and
not said. lf a candidate sounds
vague or too good to be true,
ask follow-up questions to
gather details.
. Take nofes-As much as you
can without distracting Your-
self or the candidate, jot down
notes to remind you of keY
points. Also schedule 5 or 10
minutes after each interview for
writing down your impressions.
r At the end of the interview,
make sure the candidate
knows what to expect next-
for example, a phone call or
additional interviews within
the next week.
Sources: U.S. Department of Com-
merce, Minority Business Development
Agency, "Tips on How to SuccessfullY
tnterview Job Candidates," November 17.
2009, raruw.mbda.gov; University o{ South
Carolina Division of.Human Resources,
"Tips on lnterviewing University Job
Applicants, " http://hr.sc.eoi.r, accesseo'
March 23,2010; and Dun & Bradstreet,
"How to Conduct an E{iective Emp\oyee
lnterview," Small Business
Solution
s,
http:l/smallbusiness.dnb.com, accessed
March 23,2010.
t-I
rl
i.
i.
s
.S
k
S
t
t
5
t
S
{
Preparing to lnterview
Organizations can reap the greatest benefits from intervierving if they prepare care-
fully. A well-planned intervierv should be standardized, comfortable for the partici-
pants, and focused on the job and the organization. The interviewer should have a
cluiet place in rvhich to conduct interviervs r.vithout interruption. This person should
be trained in how to ask objective questions, u'hat subject matter to avoid, a.
NR443 Guidelines for Caring for PopulationsMilestone 2 As.docxhenrymartin15260
NR443 Guidelines for Caring for Populations
Milestone 2: Assessment and Diagnosis
Purpose
The purpose of this paper is to provide an opportunity to utilize community assessment strategies, uncover a community health problem, and identify the components of the problem related to the community dynamics.
Points
225 pointsDirections
This paper is expected to be no more than four pages in length (not including the title page and reference list). Typical papers are usually three pages. Below are the requirements for successful completion of this paper.
· Introduction: This should catch the reader’s attention with interesting facts and supporting sources and include the purpose statement of the paper. This should be no more than one or two paragraphs.
· Community: Identify the community by name that you will be using for this paper and provide a brief, general description of the community. Your community should be the area where you live or work. This should be one or two paragraphs.
· Demographic and epidemiological data: Compile a range of demographic (population description) and epidemiological (causes of health problems and death) data for your community by examining census reports, vital statistic reports, city records, morbidity and mortality reports, and other agency sources. Using these data, describe the community and the problem. Compare your community data to state or national data. This comparison will help to identify a community health problem specific to your community. A summary of these data should be no more than one page.
· Windshield survey: Provide a brief summary of the findings from your first assignment. Make sure to discuss elements that link your observations to your identified problem. This should be no more than one or two paragraphs.
· Problem: Using the assessment data, identify the problem that you consider to be a priority concern. Provide a rationale for your choice and relate your choice to one of the Healthy People 2020 specific numbered objectives. Healthy People objectives are located within a topic area under the Objectives page. Your rationale should also include why this is specifically a problem in your community. This should be no more than three paragraphs. Include support of your rationale with at least two scholarly sources such as professional journal articles related to your problem.
· Summary: The summary paragraph of your paper should include a statement about the problem, the population at risk for this problem, and the major direct or indirect factors that contribute to this problem. This information should be no more than one or two paragraphs.
· Reference page: All references cited within the paper should be included on a separate References page.Guidelines
· Application: Use Microsoft Word 2010™ to create this assignment.
· Use the categories above as APA headings for the sections of your paper.
· Length: This paper is expected to be no more than four pages in length (not including the title pa.
NRB Dec’99 1WHITHER THE EMERGENCY MANAGER 1Neil R Bri.docxhenrymartin15260
NRB Dec’99 1
WHITHER THE EMERGENCY MANAGER? 1
Neil R Britton, PhD
Ministry of Emergency Management & Civil Defence
Wellington, NEW ZEALAND2
Introduction
The invitation to comment on Thomas E Drabek’s Human System Responses to
Disaster: An Inventory of Sociological Findings provides an opportunity to reflect on
the practice of emergency management and the evolving role of the emergency manager.
This focus is timely. The past decade has brought disaster into sharp relief for many;
several large-scale impacts have occurred; and disaster costs (in lives and property
damage) have escalated. The links between community growth, land-use management
practices and vulnerability have become more apparent. These issues have taken place at a
time when the clarion call is for smaller government and more fiscal constraint. This
combination is prompting questions, particularly from central government, about the
function and value of emergency management arrangements.
It is also appropriate to re-think the emergency manager’s role in contemporary society.
Much has changed in 10 years, ranging from the burgeoning of relevant information to the
need to develop integrated management programs for responders. This is leading to a re-
definition of the task-set and a re-evaluation of the emergency manager’s job parameters.
College-level programs and other knowledge-based accreditation courses are rapidly
becoming a prerequisite. These developments are enhancing the image of emergency
management and helping it progress to being a distinctive professional sector.
This essay uses Drabek’s 1986 publication Human System Responses to Disasters as a
vehicle to reflect on major developments influencing emergency management practice. It
begins by locating Human System Responses to Disasters within the disaster sociology
literature, and argues that the book makes two major contributions to disaster study. From
here, the focus of the essay shifts from Drabek’s work to identifying elements that
characterized emergency management practice at the time when Drabek wrote his text.
The essay moves on to look at some current issues pertaining to emergency management,
and leads into a discussion of where the practice might be heading in the coming decade.
A brief return to Human System Responses to Disasters completes the discussion.
1 Paper requested by the Editor, The International Journal of Mass Emergencies and Disasters.
Statements in this paper were first presented at a session of the International Research
Committee on Disasters (ISA Research Committee 39), at the 14th World Congress of
Sociology, Montreal (Quebec), Canada. 26 July - 1 August 1998. The session explored the
contribution of Thomas E Drabek’s textbook Human System Responses to Disaster: An
Inventory of Sociological Findings.
2 Neil Britton manages the Sector Development and Education unit in the Ministry of Emergency
Management & Civil Defence. The commen.
Now, its time to create that treasure map to hide the treasur.docxhenrymartin15260
Now, it's time to create that treasure map to hide the treasure from Ol' Red Coat's family.
Decide on which quadrilateral you will create. For this activity you may use a kite, trapezoid or a parallelogram (that is not a square, rhombus, or rectangle).
Graph the quadrilateral on a coordinate plane. You may print and use graph paper a drawing program such as GeoGebra. The four vertices of the quadrilateral will serve as four destinations on your map. One can be the starting point, the others can be clues along the way, and the last one will be where X marks the spot!
Find the length and slope of each side to justify the classification of your quadrilateral. For example, if your map was a square, your calculations would prove that all four sides are congruent, slopes of opposite sides are congruent, and slopes of adjacent sides are opposite reciprocals.
You need to create a set of directions so you can come back and find the treasure later. Your directions need to explain how to get from each destination on the map to the next one. Use the properties of quadrilaterals in your directions. At least three different quadrilateral properties must be used.
What does it mean to use properties of quadrilaterals in your directions? Here is an example: If your map is in the shape of a parallelogram, your opposite sides will have equal slopes. You could say that to get from Point A to Point B you travel up 3 units and right 2 units to the Palm Tree. From there you might travel East 5 units to Point C. From Point C, you would travel down 3 and left 2 units, where X marks the spot. This proves that the slopes of opposite sides are equal. Include two more properties in your directions. Don’t forget to finish the directions to return to the starting point. See example below.
Get creative and think of clever ways to use the different properties!
Create a key for your map. Show proof that following the directions will get you to the treasure. If one of the directions is to make a 90 degree turn, show how you can prove the turn from one side to another is 90 degrees.
If one of the directions is to travel the same distance as a previous side, use the distance formula to show the two distances are the same.
Submit the following to your instructor:
1. The treasure map on a coordinate plane
2. The length and slope of each side to justify the classification of your quadrilateral
3. The directions to finding the treasure: Include the explanation for how each direction represents a quadrilateral property. Be sure to include at least three properties.
*Note: Please submit the written portion of this assignment using a word processing document or by copying and pasting into the assignment box.
1.1 Elements of Inquiry Used to Study the Workplace
1.2 Methodology Used to Study the Workplace
1.3 The Impact of Paradigms and Trends
1.4 The Major Sociological Perspectives
1.5 The Paradigm Shift to Capitalism
1.6 The Progressive Era
1.7 The Gr.
NR361 Information Systems in HealthcareInterview with a Nursing.docxhenrymartin15260
NR361 Information Systems in Healthcare
Interview with a Nursing Information Expert:
Guidelines and Grading RubricPurpose
The purpose of this assignment is to
· Communicate your understanding of the importance of quality information in everyday nursing practice;
· Discuss the roles and responsibilities of a Nursing Information Expert; and
· Articulate how the professional nurse uses information or data in everyday practice to improve outcomes.Course Outcomes
This assignment enables the student to meet the following course outcomes.
CO #1: Describe patient-care technologies as appropriate to address the needs of a diverse patient population. (PO #1)
CO #4: Investigate safeguards and decision-making support tools embedded in patient care technologies and information systems to support a safe practice environment for both patients and healthcare workers. (PO #4)
CO #8: Discuss the value of best evidence as a driving force to institute change in delivery of nursing care. (PO #8)
Points
This assignment is worth a total of 250 points.
Due Date
This assignment, Interview with a Nursing Information Expert, is due at the end of Week 6. Submit your completed Interview, using the Interview Form, to the basket in the Dropbox by Sunday, 11:59 p.m. mountain time. Post questions to the weekly Q & A Forum. Contact your instructor if you need additional assistance. See the Course Policies regarding late assignments. Failure to submit your paper to the Dropbox on time will result in a deduction of points.
Directions
1. Download the NR361 Interview Form from Doc Sharing. It is found under the Week 6 Interview link.
2. Select your interviewee and schedule an interview. This individual must be a registered nurse. Job titles of RNs who may be considered include but, are not limited to, Nursing Clinical Information Manager; Super User, Director/Manger Clinical Education; Chief Information Officer; Quality Assurance or Performance Improvement Nurse; Nurse Informaticist; Telenursing Specialist; Nurse Abstractor; Case Manager; Compliance Nurse. If you have any concerns about whether the RN is suitable for this assignment, contact your instructor BEFORE you schedule the interview.
3. Review all questions (areas of inquiry) on the Interview Form located in Doc Sharing PRIOR to conducting the interview. You may print the form and take it with you to the interview.
4. Note that there are five (5) Required Questions to ask the RN.
5. Note that there are four (4) Optional Questions. You need to select only ONE of them to ask the RN.
6. Note that there are two (2) Follow-Up Questions that must be answered by YOU.
Prior to conducting your interview, review two scholarly resources. These resources should guide your understanding of the RN’s role and responsibilities or make you more knowledgeable about GIGO, interprofessional communication, or other key concepts in the questions that you may not fully understand. For example, if your interviewee is a Telenurse, you would want.
NR360 Information Systems in Healthcare Team Technology Pr.docxhenrymartin15260
NR360 Information Systems in Healthcare
Team Technology Presentation Guidelines and Grading Rubric
Revised: 01/26/2014, 07/09/2014 09/12/2014 DA
Objective
The purpose of this Team Technology Presentation is to provide students the opportunity to explore a technology used in the healthcare
system. The project requires students to work in a small team together in order to describe how this technology supports the patient care
experience through the use of information technology and information structures. Additionally, the student will explore the experience of
clear and concise communication skills, when interacting with peers, who may or may not be from the same geographical area, or campus as
they are. The final product and discussion/critique of this project is to be completed online with the class in Unit 8.
Course Outcomes
This assignment enables the student to meet the following Course Outcomes:
CO 1: Describe patient-care technologies as appropriate to address the needs of a diverse patient population. (PO 1)
CO 5: Identify patient care technologies, information systems, and communication devices that support safe nursing practice. (PO 5)
CO 6: Discuss the principles of data integrity, professional ethics, and legal requirements related to data security, regulatory requirements,
confidentiality, and client’s right to privacy. (PO 6)
CO 8: Discuss the value of best evidence as a driving force to institute change in delivery of nursing care. (PO 8)
Guidelines
• This is a Team or Group project. You will be assigned to groups, and given a topic (According to class size—typically 3-5 students
will be in a group).
Please do not ask to change groups, etc. as the group will not be changed. As nurses, we need to be able to participate as a part of a
multidisciplinary team, no matter where we are located, and regardless of whether or not we are familiar with a particular individual!
All group members will receive the same grade for each deliverable, UNLESS it is determined that a group member has not been
participating in assigned portions of the project. This is why documentation and communication in the assigned Team discussion
threads is essential. EVERYONE must complete/sign the Team Charter Form and place it in your designated Group discussion
thread under “Team Collaboration” in Course Home.
1. Communicate with your team members in the “Team Collaboration” Area of your Course Home, located under Week 8.
NR360 Information Systems in Healthcare
Team Technology Presentation Guidelines and Grading Rubric
Revised: 01/26/2014, 07/09/2014 09/12/2014 DA
***You will use the Group Project Team Collaboration Threads in the Course home as a “meeting” or communication venue. Be
sure you are documenting in YOUR Team’s discussion area, identified by a color assigned to your team! This will also serve as
documentation/verification for group members should there be ins.
NR443 Guidelines for Caring for PopulationsMilestone 2 Assess.docxhenrymartin15260
NR443 Guidelines for Caring for Populations
Milestone 2: Assessment and Diagnosis
Purpose
The purpose of this paper is to provide an opportunity to utilize community assessment strategies, uncover a community health problem, and identify the components of the problem related to the community dynamics.
Course Outcomes
This assignment enables the student to meet the following Course Outcomes.
CO 1. Evaluate the planning of delivery of care to individuals, families, aggregates, and communities in a variety of healthcare settings based on theories and principles of nursing and related disciplines. (PO 1)
CO 2. Integrate clinical judgment in professional decision-making and implementation of the nursing process through analysis of community health nursing practice. (PO 4)
CO 7. Accept accountability for personal and professional development as part of the life-long learning process. (PO 5)
Due Date
Submit to the appropriate basket in the Dropbox by 11:59 p.m. MT Sunday of Week 4.
Points
225 pointsDirections
This paper is expected to be no more than four pages in length (not including the title page and reference list). Typical papers are usually three pages. Below are the requirements for successful completion of this paper.
· Introduction: This should catch the reader’s attention with interesting facts and supporting sources and include the purpose statement of the paper. This should be no more than one or two paragraphs.
· Community: Identify the community by name that you will be using for this paper and provide a brief, general description of the community. Your community should be the area where you live or work. This should be one or two paragraphs.
· Demographic and epidemiological data: Compile a range of demographic (population description) and epidemiological (causes of health problems and death) data for your community by examining census reports, vital statistic reports, city records, morbidity and mortality reports, and other agency sources. Using these data, describe the community and the problem. Compare your community data to state or national data. This comparison will help to identify a community health problem specific to your community. A summary of these data should be no more than one page.
· Windshield survey: Provide a brief summary of the findings from your first assignment. Make sure to discuss elements that link your observations to your identified problem. This should be no more than one or two paragraphs.
· Problem: Using the assessment data, identify the problem that you consider to be a priority concern. Provide a rationale for your choice and relate your choice to one of the Healthy People 2020 specific numbered objectives. Healthy People objectives are located within a topic area under the Objectives page. Your rationale should also include why this is specifically a problem in your community. This should be no more than three paragraphs. Include support of your rationale with at least two scholarly sources such.
Nowak Aesthetics, was founded by Dr. Eugene Nowak in 1999, in Ch.docxhenrymartin15260
Nowak Aesthetics was founded in 1999 in Chula Vista, California by Dr. Eugene Nowak to provide dermatological, cosmetic surgery, and skin rejuvenation procedures to residents of San Diego County. Dr. Nowak is board certified in dermatology and aims to help patients regain confidence and achieve their desired look through both medical and cosmetic procedures. Nowak Aesthetics has consistently ranked in the top 5 dermatologists in San Diego County for customer service and innovative procedures.
NR305 Health Assessment Course Project Milestone #2 Nursing Di.docxhenrymartin15260
NR305 Health Assessment
Course Project Milestone #2: Nursing Diagnosis and Care Plan Form
Your Name: Date:
Your Instructor’s Name:
Directions: Refer to the Milestone 2: Nursing Diagnosis and Care plan guidelines and grading rubric found in Doc Sharing to complete the information below. This assignment is worth 250 points, with 10 points awarded for clarity of writing, which means the use of proper grammar, spelling and medical language.
Type your answers on this form. Click “Save as” and save the file with the assignment name and your last name, e.g., “NR305_Milestone2_Form_Smith” When you are finished, submit the form to the Milestone 2 Dropbox by the deadline indicated in your guidelines. Post questions in the Q&A Forum or contact your instructor if you have questions about this assignment.
1: Analyze Assessment Data:
Based on the health history information, identify the following:
A. Areas for focused assessment (30 points)
Provide a brief overview of those areas of strength and weakness noted from Milestone 1: Health History.
B. Client’s strengths (30 points)
Expand on areas identified as strengths related to the person's overall health. Support your conclusions with data from the textbook.
C. Areas of concern (30 points)
Expand on areas previously identified as abnormal and those that place the person at a health risk. Support your observations with data from the textbook.
D. Health teaching topics (30 points)
Identify health education needs. Support your statements with facts from the Health History and information from your textbook.
2: Nursing Care Plan
Next, plan your care based on your analysis of your assessment data:
A. Diagnosis (30 points)
Write one nursing diagnosis that reflects a priority need for this person. Remember a wellness diagnosis is a possibility.
B. Plan (30 points)
Write one goal and one measurable expected outcome related to your nursing diagnosis. Explain why this goal and outcome is a priority. Include cultural considerations for this client.
C. Intervention (30 points)
Write as many nursing orders or nursing interventions that you need in order to achieve the outcome. Provide the rationale for each intervention listed.
D. Evaluation (30 points)
You will not carry out your care plan so you cannot evaluate the effectiveness of your nursing interventions. Instead, comment on what you would look for in order to evaluate your effectiveness.
Milestone #2: Nursing Diagnosis and Care Plan Form 8-6-13 jm
2
NR 305 Health Assessment
Guidelines for Course Project Milestone 2:
Nursing Diagnosis and Care Plan AssignmentPurpose
This activity will be a continuation of the Milestone 1: Health History that you submitted in Week 4. In this part of the assignment you will take the information you gathered, analyze the data, and develop a nursing care plan.Course Outcomes
This assignment enables the student to meet the following course outcomes:
CO #3: Utilize effective communication when performing a .
Thinking of getting a dog? Be aware that breeds like Pit Bulls, Rottweilers, and German Shepherds can be loyal and dangerous. Proper training and socialization are crucial to preventing aggressive behaviors. Ensure safety by understanding their needs and always supervising interactions. Stay safe, and enjoy your furry friends!
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
Physiology and chemistry of skin and pigmentation, hairs, scalp, lips and nail, Cleansing cream, Lotions, Face powders, Face packs, Lipsticks, Bath products, soaps and baby product,
Preparation and standardization of the following : Tonic, Bleaches, Dentifrices and Mouth washes & Tooth Pastes, Cosmetics for Nails.
Main Java[All of the Base Concepts}.docxadhitya5119
This is part 1 of my Java Learning Journey. This Contains Custom methods, classes, constructors, packages, multithreading , try- catch block, finally block and more.
Assessment and Planning in Educational technology.pptxKavitha Krishnan
In an education system, it is understood that assessment is only for the students, but on the other hand, the Assessment of teachers is also an important aspect of the education system that ensures teachers are providing high-quality instruction to students. The assessment process can be used to provide feedback and support for professional development, to inform decisions about teacher retention or promotion, or to evaluate teacher effectiveness for accountability purposes.
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
The simplified electron and muon model, Oscillating Spacetime: The Foundation...RitikBhardwaj56
Discover the Simplified Electron and Muon Model: A New Wave-Based Approach to Understanding Particles delves into a groundbreaking theory that presents electrons and muons as rotating soliton waves within oscillating spacetime. Geared towards students, researchers, and science buffs, this book breaks down complex ideas into simple explanations. It covers topics such as electron waves, temporal dynamics, and the implications of this model on particle physics. With clear illustrations and easy-to-follow explanations, readers will gain a new outlook on the universe's fundamental nature.
Executive Directors Chat Leveraging AI for Diversity, Equity, and InclusionTechSoup
Let’s explore the intersection of technology and equity in the final session of our DEI series. Discover how AI tools, like ChatGPT, can be used to support and enhance your nonprofit's DEI initiatives. Participants will gain insights into practical AI applications and get tips for leveraging technology to advance their DEI goals.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
-------------------------------------------------------------------------------
Find out more about ISO training and certification services
Training: ISO/IEC 27001 Information Security Management System - EN | PECB
ISO/IEC 42001 Artificial Intelligence Management System - EN | PECB
General Data Protection Regulation (GDPR) - Training Courses - EN | PECB
Webinars: https://pecb.com/webinars
Article: https://pecb.com/article
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Website: https://pecb.com/
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Natural birth techniques - Mrs.Akanksha Trivedi Rama University
News ReleaseINVESTOR CONTACT MEDIA CONTACT CHESAPEAKE .docx
1. News Release
INVESTOR CONTACT: MEDIA CONTACT: CHESAPEAKE
ENERGY CORPORATION
Brad Sylvester, CFA
(405) 935-8870
[email protected]
Gordon Pennoyer
(405) 935-8878
[email protected]
6100 North Western Avenue
P.O. Box 18496
Oklahoma City, OK 73154
FOR IMMEDIATE RELEASE
MAY 6, 2015
CHESAPEAKE ENERGY CORPORATION REPORTS 2015
FIRST QUARTER
FINANCIAL AND OPERATIONAL RESULTS
OKLAHOMA CITY, May 6, 2015 – Chesapeake Energy
Corporation (NYSE:CHK) today reported financial
and operational results for the 2015 first quarter. Highlights
include:
• Average production of approximately 686,000 boe per day, an
increase of 14% year
over year, adjusted for asset sales
• Adjusted net income of $0.11 per fully diluted share and
adjusted ebitda of $928 million
2. • 2015 total production guidance increased to 640 – 650 mboe
per day
• 2015 capital guidance of approximately $3.5 – $4.0 billion
reiterated
• Additional 600 – 700 new Eagle Ford locations added
following successful down
spacing test results
Doug Lawler, Chesapeake’s Chief Executive Officer,
commented “Chesapeake is meeting the challenge
of low commodity prices head-on and delivered a very strong
first quarter. Adjusted for asset sales, our
production in the 2015 first quarter grew by 14% compared to
the 2014 first quarter. Our cash costs remain
at industry-low levels and we expect our assets to continue
delivering greater efficiencies even as we
reduce our activity levels throughout 2015. We remain on
target to balance our capital spending and our
cash flow by year-end, and the capital efficiencies that we are
seeing in each of our operating areas are
helping to strengthen that cash flow. During this challenging
commodity price environment, our talented
employees and high-quality assets are delivering competitive,
differential performance.”
2015 First Quarter Financial Results
For the 2015 first quarter, Chesapeake reported a net loss
available to common stockholders of $3.782
billion, or ($5.72) per fully diluted share, which compares to
net income available to common stockholders
of $374 million, or $0.54 per fully diluted share in the 2014
first quarter. Items typically excluded by
securities analysts in their earnings estimates reduced 2015 first
quarter net income by approximately
3. $3.824 billion on an after-tax basis and are presented on Page
11 of this release. The primary source of
this reduction was an impairment in the carrying value of
Chesapeake's oil and natural gas properties
largely resulting from significant decreases in the trailing 12-
month average first-day-of-the-month oil and
natural gas prices as of March 31, 2015, compared to December
31, 2014. Adjusting for this and other
items, 2015 first quarter net income available to common
stockholders was $42 million, or $0.11 per fully
diluted share, which compares to adjusted net income available
to common stockholders of $405 million,
or $0.59 per fully diluted share, in the 2014 first quarter.
Adjusted ebitda was $928 million in the 2015 first quarter,
compared to $1.515 billion in the 2014 first
quarter. Operating cash flow was $910 million in the 2015 first
quarter, compared to $1.614 billion in the
2014 first quarter. The year-over-year decreases in adjusted
ebitda and operating cash flow were primarily
the result of lower realized oil, natural gas and natural gas
liquid (NGL) prices.
Adjusted net income available to common stockholders,
operating cash flow, ebitda and adjusted ebitda
are non-GAAP financial measures. Reconciliations of these
measures to comparable financial measures
2
calculated in accordance with generally accepted accounting
principles are provided on pages 11 – 13 of
this release.
2015 First Quarter Average Daily Production of 686,000 Boe
4. Increased 14% Year Over
Year and 2% Sequentially, Adjusted for Asset Sales
Chesapeake’s daily production for the 2015 first quarter
averaged approximately 686,000 barrels of oil
equivalent (boe), a year-over-year increase of 14%, adjusted for
asset sales. Average daily production
in the 2015 first quarter consisted of approximately 121,900
barrels (bbls) of oil, 2.9 billion cubic feet (bcf)
of natural gas and 75,800 bbls of NGL, which represent year-
over-year increases of 17%, 12% and 19%,
respectively, adjusted for asset sales.
Capital Spending and Cost Overview
Chesapeake’s drilling and completion capital expenditures
during the 2015 first quarter were approximately
$1.3 billion, and capital expenditures for leasehold, geological
and geophysical costs and other property,
plant and equipment were approximately $63 million, for a total
of approximately $1.4 billion. Total capital
expenditures, including capitalized interest of $123 million,
were approximately $1.5 billion in the 2015
first quarter, compared to approximately $1.8 billion in the
2014 fourth quarter and $1.4 billion in the 2014
first quarter and are reconciled below.
2015 2014 2014
Activity Comparison Q1 Q4 Q1
Average operated rig count 54 67 60
Gross wells completed 261 341 225
Gross wells spud 244 308 268
Gross wells connected 262 311 249
5. Type of Cost ($ in millions)
Drilling and completion costs $1,300 $1,370 $729
Leasehold, G&G and other PP&E 63 252 121
Subtotal capital spending $1,363 $1,622 $850
Capitalized interest 123 134 178
Purchases of previously leased equipment — 25 340
Total capital spending $1,486 $1,781 $1,368
Chesapeake's focus on cost discipline continued to generate
reductions in costs associated with production
and general and administrative (G&A) expenses. Average
production expenses during the 2015 first
quarter were $4.84 per boe, a decrease of 5% from the 2014
fourth quarter and an increase of 2% year
over year. G&A expenses (including stock-based
compensation) during the 2015 first quarter were $0.91
per boe, a decrease of 34% from the 2014 fourth quarter and
30% year over year.
A summary of the company’s guidance for 2015 is provided in
the Outlook dated May 6, 2015, attached
to this release as Schedule "A” beginning on Page 14.
3
Operational Results – Southern Division
Eagle Ford Shale (South Texas): Eagle Ford net production
averaged approximately 113 thousand
6. barrels of oil equivalent (mboe) per day (242 gross operated
mboe per day) during the 2015 first quarter,
an increase of 7% sequentially. The full-year 2014 average
completed well cost was $5.9 million with an
average completed lateral length of 5,850 feet and 18 frac
stages, compared to the full-year 2013 average
completed well cost of $6.9 million with an average completed
lateral length of 5,850 feet and 18 frac
stages. Well cost-reduction efforts continue and the company
anticipates completed well costs of $5.5
million by year-end 2015. The company has successfully
drilled five wells with laterals in excess of 10,000
feet. This technical achievement will heavily influence future
development in the field as the company
prioritizes front-loading its drill schedule with this well design.
Chesapeake has successfully completed
down spacing tests in various sections of its acreage, adding
600 – 700 incremental locations to its undrilled
inventory. The company plans to test its first Upper Eagle Ford
well in the 2015 fourth quarter. The average
peak production rate of the 105 wells that commenced first
production in the Eagle Ford during the 2015
first quarter was approximately 763 boe per day.
Haynesville Shale and Bossier Shale (Northwest Louisiana):
Haynesville net production averaged
approximately 616 million cubic feet of natural gas equivalent
(mmcf) per day (996 gross operated mmcf
per day) during the 2015 first quarter, an increase of 4%
sequentially. The full-year 2014 average completed
well cost was $8.4 million with an average completed lateral
length of 4,900 feet and 14 frac stages,
compared to an average completed well cost of $8.9 million in
2013 with an average completed lateral
length of 4,400 feet and 18 frac stages. In April 2015, the
company placed its initial two modern extended
7. lateral (7,500 feet) Haynesville wells on line, the Nguyen 8-15-
14 1H ALT and the Nguyen 5-15-14 2H ALT
at peak 24-hour rates of 18.5 mmcf per day and 16.7 mmcf per
day, respectively, with flowing surface
pressures of approximately 600 PSI per foot greater than
surrounding in-unit wells. The average peak
production rate of the 19 wells that commenced first production
in the Haynesville during the 2015 first
quarter was approximately 15.4 mmcf per day. Chesapeake also
recently turned in line two successful
tests in the Bossier Shale utilizing enhanced stimulation
techniques. These wells are producing at a
restricted rate of 12.0 mmcf per day paving the way for future
Bossier development of 200 – 400 wells
that can utilize both enhanced stimulation and extended laterals.
Mid-Continent North: Mississippian Lime (Northern
Oklahoma): Mississippian Lime net production
averaged approximately 32 mboe per day (75 gross operated
mboe per day) during the 2015 first quarter,
an increase of 11% sequentially. The full-year 2014 average
completed well cost was $3.0 million with
an average completed lateral length of 4,500 feet, compared to
an average completed well cost of $3.5
million in 2013 with an average completed lateral length of
4,500 feet. The company anticipates completed
well costs of $2.5 million in 2015, resulting in a 45% capital
reduction in three years. The average peak
production rate of the 48 wells that commenced first production
in the Mississippian Lime during the 2015
first quarter was approximately 733 boe per day.
Operational Results – Northern Division
Utica Shale (Eastern Ohio): Utica net production averaged
approximately 110 mboe per day (190 gross
8. operated mboe per day) during the 2015 first quarter, an
increase of 10% sequentially. The full-year 2014
average completed well cost was $7.2 million with an average
completed lateral length of 6,200 feet and
29 frac stages, compared to an average completed well cost of
$6.7 million in 2013 with an average
completed lateral length of 5,150 feet and 17 frac stages.
Chesapeake anticipates average completed
well costs of $8.2 million in 2015 while extending laterals to
7,900 feet with 41 frac stages. The average
peak production rate of the 38 wells that commenced first
production in the Utica during the 2015 first
quarter was approximately 1,272 boe per day.
Marcellus Shale (Northern Pennsylvania): Marcellus net
production averaged approximately 832 mmcf
per day (1.932 gross operated bcf per day) during the 2015 first
quarter, an increase of 2% sequentially.
The 2014 full-year average completed well cost was $7.5
million with an average completed lateral length
of 5,950 feet and 27 frac stages, compared to an average
completed well cost of $7.9 million in 2013 with
an average completed lateral length of 5,400 feet and 13 frac
stages. With ample existing drilled inventory
4
and significant curtailed volumes, Chesapeake expects to
maintain production at current levels throughout
2015 in the Marcellus. The average peak production rate of the
16 wells that commenced first production
in the northern Marcellus during the 2015 first quarter was
approximately 15.8 mmcf per day.
9. Powder River Basin (PRB): Niobrara and Upper Cretaceous
(Wyoming): PRB net production averaged
approximately 20 mboe per day (30 gross operated mboe per
day) during the 2015 first quarter, an increase
of 10% sequentially. The 2014 full-year average completed
well cost (including multiple exploratory wells)
was $10.6 million per well with an average completed lateral
length of 5,425 feet and 20 frac stages,
compared to an average completed well cost of $10.1 million
per well in 2013 with an average completed
lateral length of 5,050 feet and 15 frac stages. Chesapeake
continues to improve operational efficiency
and has successfully tested multiple Upper Cretaceous test
wells. The average peak production rate of
the 11 wells that commenced first production in the PRB during
the 2015 first quarter was approximately
1,594 boe per day.
5
Key Financial and Operational Results
The table below summarizes Chesapeake’s key financial and
operational results during the 2015 first
quarter, as compared to results in prior periods.
Three Months Ended
03/31/15 12/31/14 03/31/14
Oil equivalent production (in mmboe) 61.8 67.1 60.8
Oil production (in mmbbls) 11.0 11.2 9.9
Average realized oil price ($/bbl)(a) 62.57 76.40 85.08
10. Oil as % of total production 18 17 16
Natural gas production (in bcf) 263.8 281.6 260.0
Average realized natural gas price ($/mcf)(a) 2.37 1.72 3.27
Natural gas as % of total production 71 70 71
NGL production (in mmbbls) 6.8 9.0 7.6
Average realized NGL price ($/bbl)(a) 6.99 13.11 29.23
NGL as % of total production 11 13 13
Production expenses ($/boe) (4.84) (5.07) (4.73)
Production taxes ($/boe) (0.45) (0.70) (0.83)
General and administrative costs ($/boe)(b) (0.72) (1.23) (1.09)
Stock-based compensation ($/boe) (0.19) (0.15) (0.21)
DD&A of natural gas and liquids properties ($/boe) (11.08)
(10.53) (10.33)
DD&A of other assets ($/boe) (0.57) (0.56) (1.29)
Interest expense ($/boe)(a) (0.98) (0.56) (0.90)
Marketing, gathering and compression net margin ($ in
millions)(c) (25) (39) 35
Oilfield services net margin ($ in millions)(c) — — 45
Operating cash flow ($ in millions)(d) 910 873 1,614
11. Operating cash flow ($/boe) 14.73 13.01 26.55
Adjusted ebitda ($ in millions)(e) 928 916 1,515
Adjusted ebitda ($/boe) 15.02 13.66 24.94
Net income (loss) available to common stockholders ($ in
millions) (3,782) 586 374
Earnings (loss) per share – diluted ($) (5.72) 0.81 0.54
Adjusted net income available to common stockholders ($ in
millions)(f) 42 34 405
Adjusted earnings per share – diluted ($) 0.11 0.11 0.59
(a) Includes the effects of realized gains (losses) from hedging,
but excludes the effects of unrealized gains (losses) from
hedging.
(b) Excludes expenses associated with stock-based
compensation and restructuring and other termination costs.
(c) Includes revenue and operating expenses and excludes
depreciation and amortization of other assets.
(d) Defined as cash flow provided by operating activities before
changes in assets and liabilities.
(e) Defined as net income before interest expense, income taxes
and depreciation, depletion and amortization expense, as
adjusted
to remove the effects of certain items detailed on Page 13.
(f) Defined as net income available to common stockholders, as
adjusted to remove the effects of certain items detailed on Page
11.
12. 6
2015 First Quarter Financial and Operational Results
Conference Call Information
A conference call to discuss this release has been scheduled for
Wednesday, May 6, 2015, at 9:00 am
EDT. The telephone number to access the conference call is
913-312-1393 or toll-free 888-797-2983.
The passcode for the call is 3887326. We encourage those who
would like to participate in the call to
place calls between 8:50 and 9:00 am EDT. For those unable to
participate in the live conference call, a
replay will be available for audio playback at 2:00 pm EDT on
Wednesday, May 6, 2015, and will run
through 2:00 pm EDT on Wednesday, May 20, 2015. The
number to access the conference call replay
is 719-457-0820 or toll-free 888-203-1112. The passcode for
the replay is 3887326. The conference call
will also be webcast live on Chesapeake’s website at
www.chk.com and a replay will be available following
the call. An investor presentation has been posted on the
company's website at www.chk.com/investors/
presentations. The latest investor presentation that will be
referenced during the call provides additional
financial and operational disclosure and will be available in the
Investor Relations section of the company's
website.
Chesapeake Energy Corporation (NYSE:CHK) is the second-
largest producer of natural gas and the 11th largest producer of
oil and
natural gas liquids in the U.S. Headquartered in Oklahoma
City, the company's operations are focused on discovering and
developing
its large and geographically diverse resource base of
13. unconventional oil and natural gas assets onshore in the U.S.
The company also
owns substantial marketing and compression businesses.
Further information is available at www.chk.com where
Chesapeake routinely
posts announcements, updates, events, investor information,
presentations and news releases.
This news release and the accompanying Outlook include
"forward-looking statements” within the meaning of Section
27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of
1934. Forward-looking statements are statements other than
statements of historical
fact. They include statements that give our current expectations
or forecasts of future events, production, production growth and
well connection
forecasts, estimates of operating costs, planned development
drilling and expected drilling cost reductions, capital
expenditures, expected
efficiency gains, anticipated assets sales and proceeds to be
received therefrom, projected cash flow and liquidity, business
strategy and other
plans and objectives for future operations, and the assumptions
on which such statements are based. Although we believe the
expectations and
forecasts reflected in the forward-looking statements are
reasonable, we can give no assurance they will prove to have
been correct. They can
be affected by inaccurate or changed assumptions or by known
or unknown risks and uncertainties.
Factors that could cause actual results to differ materially from
expected results include those described under "Risk Factors” in
Item 1A of our
annual report on Form 10-K and any updates to those factors set
14. forth in Chesapeake's subsequent quarterly reports on Form 10-
Q or current
reports on Form 8-K (available at
http://www.chk.com/investors/sec-filings). These risk factors
include the volatility of oil, natural gas and NGL
prices; write-downs of our oil and natural gas carrying values
due to declines in prices; the availability of operating cash flow
and other funds to
finance reserve replacement costs; our ability to replace
reserves and sustain production; uncertainties inherent in
estimating quantities of oil,
natural gas and NGL reserves and projecting future rates of
production and the amount and timing of development
expenditures; our ability to
generate profits or achieve targeted results in drilling and well
operations; leasehold terms expiring before production can be
established; commodity
derivative activities resulting in lower prices realized on oil,
natural gas and NGL sales; the need to secure derivative
liabilities and the inability
of counterparties to satisfy their obligations; adverse
developments or losses from pending or future litigation and
regulatory proceedings, including
royalty claims; the limitations our level of indebtedness may
have on our financial flexibility; charges incurred in response to
market conditions
and in connection with actions to reduce financial leverage and
complexity; drilling and operating risks and resulting liabilities;
effects of
environmental protection laws and regulation on our business;
legislative and regulatory initiatives further regulating
hydraulic fracturing; our need
to secure adequate supplies of water for our drilling operations
and to dispose of or recycle the water used; federal and state tax
proposals
affecting our industry; potential OTC derivatives regulation
15. limiting our ability to hedge against commodity price
fluctuations; impacts of potential
legislative and regulatory actions addressing climate change;
competition in the oil and gas exploration and production
industry; a deterioration
in general economic, business or industry conditions; negative
public perceptions of our industry; limited control over
properties we do not operate;
pipeline and gathering system capacity constraints and
transportation interruptions; cyber attacks adversely impacting
our operations; and
interruption in operations at our headquarters due to a
catastrophic event.
In addition, disclosures concerning the estimated contribution
of derivative contracts to our future results of operations are
based upon market
information as of a specific date. These market prices are
subject to significant volatility. Our production forecasts are
also dependent upon
many assumptions, including estimates of production decline
rates from existing wells and the outcome of future drilling
activity. Expected asset
sales may not be completed in the frame anticipated or at all.
We caution you not to place undue reliance on our forward-
looking statements,
which speak only as of the date of this news release, and we
undertake no obligation to update any of the information
provided in this release
or the accompanying Outlook, except as required by applicable
law.
7
16. CHESAPEAKE ENERGY CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS
($ in millions, except per share data)
(unaudited)
Three Months Ended
March 31,
2015 2014
REVENUES:
Oil, natural gas and NGL $ 1,085 $ 1,766
Marketing, gathering and compression 1,675 3,015
Oilfield services — 265
Total Revenues 2,760 5,046
OPERATING EXPENSES:
Oil, natural gas and NGL production 299 288
Production taxes 28 50
Marketing, gathering and compression 1,700 2,980
Oilfield services — 220
General and administrative 56 79
Restructuring and other termination costs (10) (7)
Provision for legal contingencies 25 —
Oil, natural gas and NGL depreciation, depletion and
amortization 684 628
Depreciation and amortization of other assets 35 78
Impairment of oil and natural gas properties 4,976 —
Impairments of fixed assets and other 4 20
Net (gains) losses on sales of fixed assets 3 (23)
Total Operating Expenses 7,800 4,313
INCOME (LOSS) FROM OPERATIONS (5,040) 733
17. OTHER INCOME (EXPENSE):
Interest expense (51) (39)
Losses on investments (7) (21)
Net gain on sales of investments — 67
Other income 6 6
Total Other Income (Expense) (52) 13
INCOME (LOSS) BEFORE INCOME TAXES (5,092) 746
INCOME TAX EXPENSE (BENEFIT):
Current income taxes — 3
Deferred income taxes (1,372) 277
Total Income Tax Expense (Benefit) (1,372) 280
NET INCOME (LOSS) (3,720) 466
Net income attributable to noncontrolling interests (19) (41)
NET INCOME (LOSS) ATTRIBUTABLE TO CHESAPEAKE
(3,739) 425
Preferred stock dividends (43) (43)
Earnings allocated to participating securities — (8)
NET INCOME (LOSS) AVAILABLE TO COMMON
STOCKHOLDERS $ (3,782) $ 374
EARNINGS (LOSS) PER COMMON SHARE:
Basic $ (5.72) $ 0.57
Diluted $ (5.72) $ 0.54
WEIGHTED AVERAGE COMMON AND COMMON
EQUIVALENT SHARES OUTSTANDING (in millions):
Basic 661 658
Diluted 661 765
18. 8
CHESAPEAKE ENERGY CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
($ in millions)
(unaudited)
March 31,
2015
December 31,
2014
Cash and cash equivalents $ 2,907 $ 4,108
Other current assets 2,491 3,360
Total Current Assets 5,398 7,468
Property and equipment, (net) 28,385 32,515
Other assets 590 768
Total Assets $ 34,373 $ 40,751
Current liabilities $ 5,366 $ 5,863
Long-term debt, net of discounts 10,623 11,154
Other long-term liabilities 1,194 1,344
Deferred income tax liabilities 2,817 4,185
Total Liabilities 20,000 22,546
Preferred stock 3,062 3,062
Noncontrolling interests 1,295 1,302
19. Common stock and other stockholders’ equity 10,016 13,841
Total Equity 14,373 18,205
Total Liabilities and Equity $ 34,373 $ 40,751
Common Shares Outstanding (in millions) 664 663
CHESAPEAKE ENERGY CORPORATION
CAPITALIZATION
($ in millions)
(unaudited)
March 31,
2015
December 31,
2014
Total debt, net of unrestricted cash $ 8,601 $ 7,427
Preferred stock 3,062 3,062
Noncontrolling interests(a) 1,295 1,302
Common stock and other stockholders’ equity 10,016 13,841
Total $ 22,974 $ 25,632
Total net debt to capitalization ratio 37% 29%
(a) Includes third-party ownership as follows:
CHK Cleveland Tonkawa, L.L.C. $ 1,015 $ 1,015
Chesapeake Granite Wash Trust 280 287
Total $ 1,295 $ 1,302
20. 9
CHESAPEAKE ENERGY CORPORATION
SUPPLEMENTAL DATA – OIL, NATURAL GAS AND NGL
PRODUCTION, SALES AND INTEREST EXPENSE
(unaudited)
Three Months Ended
March 31,
2015 2014
Net Production:
Oil (mmbbl) 11.0 9.9
Natural gas (bcf) 263.8 260.0
NGL (mmbbl) 6.8 7.6
Oil equivalent (mmboe) 61.8 60.8
Oil, natural gas and NGL Sales ($ in millions):
Oil sales $ 451 $ 922
Oil derivatives – realized gains (losses)(a) 235 (84)
Oil derivatives – unrealized gains (losses)(a) (110) 10
Total Oil Sales 576 848
Natural gas sales 425 1,005
Natural gas derivatives – realized gains (losses)(a) 200 (154)
Natural gas derivatives – unrealized gains (losses)(a) (164)
(154)
Total Natural Gas Sales 461 697
NGL sales 48 221
21. Total NGL Sales 48 221
Total Oil, Natural Gas and NGL Sales $ 1,085 $ 1,766
Average Sales Price – excluding gains (losses) on derivatives:
Oil ($ per bbl) $ 41.16 $ 93.60
Natural gas ($ per mcf) $ 1.61 $ 3.86
NGL ($ per bbl) $ 6.99 $ 29.23
Oil equivalent ($ per boe) $ 14.96 $ 35.35
Average Sales Price – including realized gains (losses) on
derivatives:
Oil ($ per bbl) $ 62.57 $ 85.08
Natural gas ($ per mcf) $ 2.37 $ 3.27
NGL ($ per bbl) $ 6.99 $ 29.23
Oil equivalent ($ per boe) $ 22.00 $ 31.44
Interest Expense ($ in millions):
Interest(b) $ 62 $ 58
Derivatives – realized (gains) losses(c) (1) (3)
Derivatives – unrealized (gains) losses(c) (10) (16)
Total Interest Expense $ 51 $ 39
(a) Realized gains and losses include the following items: (i)
settlements of nondesignated derivatives related to current
period production
revenues, (ii) prior period settlements for option premiums and
for early-terminated derivatives originally scheduled to settle
against
current period production revenues, and (iii) gains and losses
related to de-designated cash flow hedges originally designated
to
settle against current period production revenues. Unrealized
gains and losses include the change in fair value of open
derivatives
scheduled to settle against future period production revenues
22. offset by amounts reclassified as realized gains and losses
during
the period. Although we no longer designate our derivatives as
cash flow hedges for accounting purposes, we believe these
definitions are useful to management and investors in
determining the effectiveness of our price risk management
program.
(b) Net of amounts capitalized.
(c) Realized (gains) losses include settlements related to the
current period interest accrual and the effect of (gains) losses
on early
termination trades. Unrealized (gains) losses include changes in
the fair value of open interest rate derivatives offset by amounts
reclassified to realized (gains) losses during the period.
10
CHESAPEAKE ENERGY CORPORATION
CONDENSED CONSOLIDATED CASH FLOW DATA
($ in millions)
(unaudited)
THREE MONTHS ENDED:
March 31,
2015
March 31,
2014
Beginning cash $ 4,108 $ 837
23. Cash provided by operating activities 423 1,291
Cash flows from investing activities:
Drilling and completion costs(a) (1,306) (897)
Acquisition of proved and unproved properties(b) (128) (187)
Proceeds from divestitures of proved and unproved properties
21 49
Additions to other property and equipment (58) (97)
Cash paid to purchase leased rigs and compressors — (340)
Proceeds from sales of other property and equipment 2 239
Additions to investments (3) (3)
Proceeds from sales of investments — 239
Other — (2)
Total cash used in investing activities (1,472) (999)
Cash used in financing activities (152) (125)
Change in cash and cash equivalents (1,201) 167
Ending cash $ 2,907 $ 1,004
(a) Includes capitalized interest of $11 million and $16 million
for the three months ended March 31, 2015 and 2014,
respectively.
(b) Includes capitalized interest of $109 million and $158
million for the three months ended March 31, 2015 and 2014,
respectively.
11
CHESAPEAKE ENERGY CORPORATION
RECONCILIATION OF ADJUSTED NET INCOME
AVAILABLE TO COMMON STOCKHOLDERS
24. ($ in millions, except per share data)
(unaudited)
THREE MONTHS ENDED:
March 31,
2015
December 31,
2014
March 31,
2014
Net income (loss) available to common stockholders $ (3,782) $
586 $ 374
Adjustments, net of tax:
Unrealized (gains) losses on derivatives 192 (663) 80
Restructuring and other termination costs (7) (3) (4)
Provision for legal contingencies 18 94 —
Impairment of oil and natural gas properties 3,635 — —
Impairments of fixed assets and other 3 10 12
Net (gains) losses on sales of fixed assets 2 2 (14)
Net gain on sales of investments — — (42)
Losses on purchases of debt and extinguishment of other
financing — 2 —
Tax rate adjustment (17) — —
Other (2) 6 (1)
Adjusted net income available to common stockholders(a) $ 42
$ 34 $ 405
Preferred stock dividends 43 43 43
25. Earnings allocated to participating securities — 10 8
Total adjusted net income attributable to
Chesapeake $ 85 $ 87 $ 456
Weighted average fully diluted shares outstanding
(in millions)(b) 776 775 767
Adjusted earnings per share assuming dilution(a) $ 0.11 $ 0.11
$ 0.59
(a) Adjusted net income and adjusted earnings per share
assuming dilution are not measures of financial performance
under accounting
principles generally accepted in the United States (GAAP), and
should not be considered as an alternative to net income
available
to common stockholders or diluted earnings per share. Adjusted
net income available to common stockholders and adjusted
earnings
per share assuming dilution exclude certain items that
management believes affect the comparability of operating
results. The
company believes these adjusted financial measures are a useful
adjunct to earnings calculated in accordance with GAAP
because:
(i) Management uses adjusted net income available to common
stockholders to evaluate the company's operational trends and
performance relative to other oil and natural gas producing
companies.
(ii) Adjusted net income available to common stockholders is
more comparable to earnings estimates provided by securities
analysts.
26. (iii) Items excluded generally are one-time items or items whose
timing or amount cannot be reasonably estimated. Accordingly,
any guidance provided by the company generally excludes
information regarding these types of items.
(b) Weighted average fully diluted shares outstanding include
shares that were considered antidilutive for calculating earnings
per share
in accordance with GAAP.
12
CHESAPEAKE ENERGY CORPORATION
RECONCILIATION OF OPERATING CASH FLOW AND
EBITDA
($ in millions)
(unaudited)
THREE MONTHS ENDED:
March 31,
2015
December 31,
2014
March 31,
2014
CASH PROVIDED BY OPERATING ACTIVITIES $ 423 $ 829
$ 1,291
Changes in assets and liabilities 487 44 323
OPERATING CASH FLOW(a) $ 910 $ 873 $ 1,614
27. THREE MONTHS ENDED:
March 31,
2015
December 31,
2014
March 31,
2014
NET INCOME (LOSS) $ (3,720) $ 668 $ 466
Interest expense 51 7 39
Income tax expense (benefit) (1,372) 286 280
Depreciation and amortization of other assets 35 38 78
Oil, natural gas and NGL depreciation, depletion and
amortization 684 706 628
EBITDA(b) $ (4,322) $ 1,705 $ 1,491
THREE MONTHS ENDED:
March 31,
2015
December 31,
2014
March 31,
2014
CASH PROVIDED BY OPERATING ACTIVITIES $ 423 $ 829
$ 1,291
Changes in assets and liabilities 487 44 323
Interest expense, net of unrealized gains (losses) on
28. derivatives 61 38 55
Oil, natural gas and NGL derivative gains (losses), net 161
1,049 (382)
Cash (receipts) payments on oil, natural gas and NGL
derivative settlements, net (413) (88) 168
Stock-based compensation (23) — (20)
Restructuring and other termination costs 10 (3) 9
Provision for legal contingencies (25) (134) —
Impairment of oil and natural gas properties (4,976) — —
Impairments of fixed assets and other (2) (14) (12)
Net gains (losses) on sales of fixed assets (3) (2) 23
Losses on investments (7) (7) (21)
Net gain on sales of investments — — 67
Losses on purchases of debt and extinguishment of other
financing — (2) —
Other items (15) (5) (10)
EBITDA(b) $ (4,322) $ 1,705 $ 1,491
(a) Operating cash flow represents net cash provided by
operating activities before changes in assets and liabilities.
Operating cash
flow is presented because management believes it is a useful
adjunct to net cash provided by operating activities under
GAAP.
Operating cash flow is widely accepted as a financial indicator
of an oil and natural gas company's ability to generate cash that
is
used to internally fund exploration and development activities
and to service debt. This measure is widely used by investors
and
rating agencies in the valuation, comparison, rating and
investment recommendations of companies within the oil and
natural gas
29. exploration and production industry. Operating cash flow is not
a measure of financial performance under GAAP and should not
be considered as an alternative to cash flows from operating,
investing or financing activities as an indicator of cash flows,
or as a
measure of liquidity.
(b) Ebitda represents net income before interest expense,
income taxes, and depreciation, depletion and amortization
expense. Ebitda
is presented as a supplemental financial measurement in the
evaluation of our business. We believe that it provides
additional
information regarding our ability to meet our future debt
service, capital expenditures and working capital requirements.
This measure
is widely used by investors and rating agencies in the valuation,
comparison, rating and investment recommendations of
companies.
Ebitda is also a financial measurement that, with certain
negotiated adjustments, is reported to our lenders pursuant to
our bank
credit agreements and is used in the financial covenants in our
bank credit agreements. Ebitda is not a measure of financial
performance under GAAP. Accordingly, it should not be
considered as a substitute for net income, income from
operations or cash
flow provided by operating activities prepared in accordance
with GAAP.
13
CHESAPEAKE ENERGY CORPORATION
RECONCILIATION OF ADJUSTED EBITDA
30. ($ in millions)
(unaudited)
THREE MONTHS ENDED:
March 31,
2015
December 31,
2014
March 31,
2014
EBITDA $ (4,322) $ 1,705 $ 1,491
Adjustments:
Unrealized (gains) losses on oil, natural gas and NGL
derivatives 274 (916) 144
Restructuring and other termination costs (10) (5) (7)
Provision for legal contingencies 25 134 —
Impairment of oil and natural gas properties 4,976 — —
Impairments of fixed assets and other 4 14 20
Net (gains) losses on sales of fixed assets 3 3 (23)
Net gains on sales of investments — — (67)
Losses on purchases of debt and extinguishment of other
financing — 2 —
Net income attributable to noncontrolling interests (19) (29)
(41)
Other (3) 8 (2)
Adjusted EBITDA(a) $ 928 $ 916 $ 1,515
31. (a) Adjusted ebitda excludes certain items that management
believes affect the comparability of operating results. The
company
believes these non-GAAP financial measures are a useful
adjunct to ebitda because:
(i) Management uses adjusted ebitda to evaluate the company's
operational trends and performance relative to other oil and
natural gas producing companies.
(ii) Adjusted ebitda is more comparable to estimates provided
by securities analysts.
(iii) Items excluded generally are one-time items or items whose
timing or amount cannot be reasonably estimated. Accordingly,
any guidance provided by the company generally excludes
information regarding these types of items.
Accordingly, adjusted EBITDA should not be considered as a
substitute for net income, income from operations or cash flow
provided
by operating activities prepared in accordance with GAAP.
14
SCHEDULE "A”
CHESAPEAKE ENERGY CORPORATION
MANAGEMENT’S OUTLOOK AS OF MAY 6, 2015
Chesapeake periodically provides management guidance on
certain factors that affect the company’s
future financial performance.
32. Year Ending
12/31/2015
Adjusted Production Growth(a) 1% – 3%
Absolute Production
Liquids - mmbbls 62 – 64
Oil - mmbbls 38.5 – 39.5
NGL(b) - mmbbls 23.5 – 24.5
Natural gas - bcf 1,025 – 1,040
Total absolute production - mmboe 233 – 237
Absolute daily rate - mboe 640 – 650
Estimated Realized Hedging Effects(c) (based on 4/30/15 strip
prices):
Oil - $/bbl $19.33
Natural gas - $/mcf $0.32
Estimated Basis/Gathering/Marketing/Transportation
Differentials to NYMEX Prices:
Oil - $/bbl $7.00 – 9.00
Natural gas - $/mcf $1.70 – 1.90
NGL - $/bbl $49.00 – 51.00
Fourth quarter minimum volume commitment (MVC) estimate
($ in millions) ($180) – (200)
Operating Costs per Boe of Projected Production:
Production expense $4.50 – 5.00
Production taxes $0.45 – 0.55
General and administrative(d) $1.45 – 1.55
Stock-based compensation (noncash) $0.20 – 0.25
DD&A of natural gas and liquids assets $9.50 – 10.50
Depreciation of other assets $0.60 – 0.70
Interest expense(e) $1.10 – 1.20
33. Other ($ millions):
Marketing, gathering and compression net margin(f) ($40 – 60)
Net income attributable to noncontrolling interests and other(g)
($30 – 50)
Book Tax Rate 25% – 30%
Capital Expenditures ($ in millions)(h) $3,000 – 3,500
Capitalized Interest ($ in millions) $475
Total Capital Expenditures ($ in millions) $3,475 – 3,975
(a) Based on 2014 production of 622 mboe/day adjusted for
2014 sales and the potential sale of Cleveland Tonkawa assets
in 2015.
(b) Assumes ethane recovery in the Utica to fulfill
Chesapeake’s pipeline commitments, no ethane recovery in the
Powder River Basin
and partial ethane recovery in the Mid-Continent and Eagle
Ford.
(c) Includes expected settlements for commodity derivatives
adjusted for option premiums. For derivatives closed early,
settlements
are reflected in the period of original contract expiration.
(d) Excludes expenses associated with stock-based
compensation.
(e) Excludes unrealized gains (losses) on interest rate
derivatives.
(f) Includes revenue and operating expenses and excludes
depreciation and amortization of other assets.
(g) Net income attributable to noncontrolling interests of
Chesapeake Granite Wash Trust and CHK Cleveland Tonkawa
L.L.C.
(h) Includes capital expenditures for drilling and completion,
leasehold, geological and geophysical costs and other property
and plant
34. and equipment.
15
Oil, Natural Gas and NGL Hedging Activities
Chesapeake enters into oil, natural gas and NGL derivative
transactions in order to mitigate a portion of
its exposure to adverse changes in market prices. Please see the
quarterly reports on Form 10-Q and
annual reports on Form 10-K filed by Chesapeake with the SEC
for detailed information about derivative
instruments the company uses, its quarter-end derivative
positions and accounting for oil, natural gas and
NGL derivatives.
As of April 30, 2015, the company had downside protection on
approximately 43% of its remaining projected
2015 oil production at an average price of $93.48 per bbl of
which 12% is hedged under three-way collar
arrangements based on an average bought put NYMEX price of
$90 per bbl and exposure below an
average sold put NYMEX price of $80 per bbl. Approximately
40% of the company's remaining projected
2015 natural gas production has downside protection at an
average price of $3.85 per one thousand cubic
feet of natural gas (mcf), of which 14% is hedged under three-
way collar arrangements based on an
average bought put NYMEX price of $4.17 per mcf and
exposure below an average sold put NYMEX price
of $3.38 per mcf.
The company’s crude oil hedging positions as of April 30, 2015
35. were as follows:
Open Crude Oil Swaps; Gains (Losses) from Closed
Crude Oil Trades and Call Option Premiums
Open Swaps
(mbbls)
Avg. NYMEX
Price of
Open Swaps
Total Gains from
Closed Trades
and Premiums for
Call Options
($ in millions)
Q2 2015 3,041 $ 94.49 $ 61
Q3 2015 2,868 94.82 62
Q4 2015 2,714 95.15 63
Total Q2 - Q4 2015 8,623 $ 94.81 $ 186
Total 2016 – 2022 — $ — $ 117
Crude Oil Three-Way Collars
Open
Collars
(mbbls)
Avg.
NYMEX
Sold Put
37. Crude Oil Basis Protection Swaps
Volume
(mbbls)
Avg. NYMEX
plus
Q2 2015 1,740 $ 5.04
Q3 2015 2,392 3.14
Q4 2015 2,361 3.14
Total Q2 - Q4 2015 6,493 $ 3.65
The company’s natural gas hedging positions as of April 30,
2015 were as follows:
Open Natural Gas Swaps; Gains (Losses) from Closed
Natural Gas Trades and Call Option Premiums
Open Swaps
(bcf)
Avg. NYMEX
Price of
Open Swaps
Total Gains (Losses)
from Closed Trades
and Premiums for
Call Options
($ in millions)
Q2 2015 70 $ 3.64 $ (30)
Q3 2015 78 3.54 (31)
38. Q4 2015 52 3.94 (31)
Total Q2 - Q4 2015 200 $ 3.68 $ (92)
Total 2016 – 2022 37 $ 3.95 $ (187)
Natural Gas Three-Way Collars
Open Collars
(bcf)
Avg. NYMEX
Sold
Put Price
Avg. NYMEX
Bought
Put Price
Avg. NYMEX
Sold Call Price
Q2 2015 35 $ 3.38 $ 4.17 $ 4.37
Q3 2015 36 3.38 4.17 4.37
Q4 2015 36 3.38 4.17 4.37
Total Q2 - Q4 2015 107 $ 3.38 $ 4.17 $ 4.37
Natural Gas Net Written Call Options
Call Options
(bcf)
Avg. NYMEX
Strike Price
Total 2016 – 2020 193 $ 9.92
39. Natural Gas Basis Protection Swaps
Volume
(bcf)
Avg. NYMEX
plus/(minus)
Q2 2015 22 $ (0.70)
Q3 2015 37 (0.82)
Q4 2015 10 (0.34)
Total Q2 - Q4 2015 69 $ (0.71)
Total 2016 - 2022 27 $ (0.56)
Overview and Quote2015 First Quarter
ResultsCapexOperational ResultsKey Financial and Operational
ResultsCall Information and Boiler PlateStatements of
OperationsBalance SheetsCapitalizationSupplemental Data -
Oil, Natural Gas and NGL Production, Sales and Interest
ExpenseConsolidated Cash FlowReconciliation of Adjusted Net
IncomeReconciliation of Operating Cash Flow and
EBITDAReconciliation of Adjusted EBITDASchedule "A"Oil,
Natural Gas and NGL Hedging Activities
GLOBAL ENVIRONMENTS 2
GLOBAL ENVIRONMENTS 5
Global Environments
Chase Aegerter, Jacob Blake, Frank Coddington, Christine
Lloyd, and Princess Todd
ACC/300
40. July 19, 2015
Brandy Havens
Running head: GLOBAL ENVIRONMENTS 1
Global Environments
Our team has chosen to research the publicly traded corporation
Chesapeake Energy (CHK). We will include a copy of the
company’s latest financial statements that we will also review.
Specifically, we will analyze the corporation’s debt securities
and stock investments from the statement. Next, we will
identify why Chesapeake would invest in debt securities and
stocks. Then we will evaluate the relative risks and rewards of
equity versus debt securities and distinguish the difference
between equity and debt securities. Lastly, we will determine
the current health of the company using the current financial
statement.
About Chesapeake Energy
“Chesapeake is the second-largest producer of natural gas and
the 10th largest producer of oil and natural gas liquids in the
U.S., with an industry-leading portfolio of high-quality
unconventional assets in top onshore plays. Chesapeake’s value-
driven strategy includes continuously generating capital
efficiencies and industry-leading low production and G&A costs
— along with a disciplined approach to liquidity (Chesapeake
Energy Website, n.d., p. 1).”
Debt Securities
Chesapeake Energy Corporation debt securities can be located
on the balance sheets as the following. At the end of December
2014, Chesapeake Energy Corporation had debt securities as
Preferred Stock at 3,062 million. The corporation had Preferred
Stock of 3,062 million as of March 31, 2015.
41. Chesapeake’s Investments
Chesapeake Energy Corporation has its stock investments
located on the balance sheet. For December 31, 2014, they had
Non-controlling interests at 1,302 million, Common stock and
other stockholders’ equity at 13,841 million, and Common
Shares Outstanding at 663 million. As of March 31, 2015, the
corporation had Non-controlling interests at 1,295 million,
Common stock and other stockholders’ equity at 10,016 million,
and Common Shares Outstanding at 664 million.
Investing in Stocks and Securities
Chesapeake Energy Corporation would invest in stocks and debt
securities because they would be able to generate income. It
could also provide a steady stream of income in tough times.
They could increase their net worth by investing in high yield
securities. If the corporation invested in safer funds, they could
protect their assets.
Equity versus Debt Securities
· What are the corporation’s relative risks and rewards of equity
versus debt securities?
Differentiating between Equity and Debt Securities
Securities given out by some corporations can be classified as
equity securities and debt securities. Debt must paid and also a
result of borrowing money. When a company borrows money, it
is a promise to make regular interest payments and pay back the
principal amount that was borrowed. The firm who is making
the loan is called the creditor or a lender. And the firm who is
borrowing the money is called the debtor or the borrower.
However there are main differences between debt and equity
securities.
Debt is not an ownership interest of the company. Creditors do
not have a capability of voting. It is considered a cost of doing
and is fully tax deductible when the company’s payment of
42. interest on debt. However, dividends that are paid to the
stockholders are NOT tax deductible. Any unpaid debt is a
liability to the firm. When it is not paid, creditors can legally
claim assets to the firm. This includes in liquidation or
bankruptcy in which it would lead to a financial failure.
Chesapeake Energy Current Health
Use the organization’s financial statements to determine its
financial health.
Identify examples from the organization’s financial statements
to justify the team’s responses.
Conclusion
To summarize, our team chose to research Chesapeake Energy
(CHK). We included a copy of the company’s latest financial
statements that we will also reviewed. Specifically, we analyzed
the corporation’s debt securities and stock investments from the
financial statement. Next, we identified why Chesapeake would
want to invest in debt securities and stocks. Then we evaluated
the relative risks and rewards of equity versus debt securities
and distinguished the difference between equity and debt
securities. Lastly, we determined the current health of the
company.
References
Chesapeake Energy Website. (n.d.). http://www.chk.com/about
Jaffe, J., Westerfield, R. Introduction to Corporate Finance.
Core Principles and Applications of
Corporate Finance. Third Edition. Pp.35-51. McGraw-Hill.