Boston, MA 03/26/2014 (wallstreetpr) – Rhino Resource Partners, L.P. (NYSE:RNO) declared its 8-K filing yesterday, as per which, its wholy-owned subsidiary Rhino Exploration LLC, has reached a Purchase and Sale Agreement with Gulfport Energy Corporation. As per the agreement, Rhino will sell its oil and gas properties located in the Utica share region on Ohio to Gulfport, for an exchange of $184 million. The agreement is effective January 1, 2014 and the mentioned price is adjusted for any expenditures or proceeds that remain unsettled from the company’s portion of its properties prior to the effective date of the settlement. Rhino Resource Partners, L.P. (NYSE:RNO) stands to receive $179 million immediately post the closure of the transaction and the remaining $5 million within a period of three months.
MSA Safety Inc (NYSE:MSA), which is a renowned global safety equipment developer announced that its FireHawk® M7XT Air Mask has been notified to be in accordance with the National Fire Protection Association’s (NFPA) 2013 Edition. The company received the certification information from the Safety Equipment Institute (SEI). The company’s Air Mask is meant for firefighters as it provides them with respiratory protection in life-threatening or hazardous environments. As MSA Safety Inc (NYSE:MSA) completes the final leg of certification compliance, it anticipated to start shipping the product, beginning second quarter of the year.
HD Supply Holdings Inc (NASDAQ:HDS) gained traction on Tuesday, after it reported a robust fourth quarter earnings. THe company’s earnings per share stood flat for the period and its revenue came in line with the expected target of $1.92 billion. The industrial distributor reported double-digit growth in its White Cap, Waterworks and Facilities Maintenance segments in the fourth quarter. However, growth in the power solutions remained little bit muted at the rate of 5.3%. The gross profit rose 50 basis points to 29.9% in the reported quarter. HD Supply Holdings Inc (NASDAQ:HDS), which has outperformed since its spin-off last year, ended more than 8% higher yesterday.
