21 Sept 2016director interest notice● Neutral
Strategic Value Partners, LLC became a BAYTEX ENERGY USA, INC. 10%+ owner and company insider (initial ownership filing).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
21 Sept 2016director interest notice● Neutral
Darin G Holderness became a BAYTEX ENERGY USA, INC. director and company insider (initial ownership filing).
19 Sept 2016director interest notice● Neutral
Marc T Mccarthy became a BAYTEX ENERGY USA, INC. director and company insider (initial ownership filing).
15 Sept 2016auditor change● Neutral
On September 13, 2016 the company replaced KPMG with Grant Thornton as its auditor for fiscal 2016, approved by the audit committee. KPMG's 2015 report included a going-concern warning, and the filing reports no disagreements or reportable events with KPMG.
15 Sept 2016director interest notice● Neutral
BAYTEX ENERGY USA, INC. EVP, CAO & General Counsel Nancy M Snyder disposed of 540,181 shares via option/appreciation-right settlement.
14 Sept 2016director interest notice● Neutral
BAYTEX ENERGY USA, INC. Sr. VP and CFO Steven A. Hartman disposed of 433,760 shares via option/appreciation-right settlement.
14 Sept 2016director interest notice● Neutral
BAYTEX ENERGY USA, INC. EVP & COO John A Brooks disposed of 566,281 shares via option/appreciation-right settlement.
17 Aug 2016bankruptcy or receivership▼ BadMajor
The bankruptcy court confirmed the company's reorganization plan on August 11, 2016. Noteholders and certain other unsecured creditors get 100% of the new common stock (subject to dilution from the rights offering, a 6.0% commitment premium and a management plan of up to 5%), the DIP and revolver claims are paid in full, and current preferred and common stock will be canceled. Emergence awaits remaining conditions, with a new four-year exit revolver of up to $200M (initial borrowing base expected $128M) and a $50M rights offering backstopped by noteholders.
10 Aug 2016material agreement● NeutralMajor
During bankruptcy, the company's Eagle Ford oil subsidiary and Republic Midstream signed a revised gathering agreement effective August 1, 2016, replacing the September 2015 agreement. The minimum volume commitment falls from 15,000 to 8,000 barrels of oil per day, but its term is extended from 10 to 15 years, with a revised fee structure that is reduced for the first three years and then rises. This changes the Republic midstream arrangement described earlier.
29 July 2016quarterly activities report● Neutral
BAYTEX ENERGY USA, INC. reported quarterly revenue of $37.2 million for the period ended 2016-06-30.
19 May 2016director interest notice● Neutral
BAYTEX ENERGY USA, INC. EVP & COO John A Brooks sold 44,925 shares at $0.02.
12 May 2016bankruptcy or receivership▼ BadMajor
Penn Virginia and certain subsidiaries filed for Chapter 11 bankruptcy on May 12, 2016 in the Eastern District of Virginia, with a restructuring support agreement backed by holders of 87% ($1.03 billion) of about $1.20 billion in funded debt. The filing triggered default on the $300M 7.25% 2019 notes, the $775M 8.500% 2020 notes and about $112.6M under the credit agreement, though enforcement is stayed. The company says the plan would reduce long-term debt by over $1 billion, with $25M of DIP financing, up to $128M of exit financing and a $50M backstopped rights offering committed. It also warns that existing common stock will likely be extinguished with no consideration to equity holders if a plan is approved.
29 Apr 2016quarterly activities report● Neutral
BAYTEX ENERGY USA, INC. reported quarterly revenue of $30.5 million for the period ended 2016-03-31.
16 Feb 2016substantial holder notice● Neutral
LionEye Capital Management LLC, Stephen Raneri, Arthur Rosen reported no remaining BAYTEX ENERGY USA, INC. shareholding in its periodic institutional filing.
11 Feb 2016substantial holder notice● Neutral
The Vanguard Group reported a BAYTEX ENERGY USA, INC. shareholding of 2,204,826 shares (3.00% of votes) in a periodic institutional filing.
11 Feb 2016substantial holder notice● Neutral
Nokomis Capital, L.L.C, Brett Hendrickson reported a BAYTEX ENERGY USA, INC. shareholding of 899,530 shares (1.20% of votes) in a periodic institutional filing.
9 Feb 2016substantial holder notice● Neutral
Franklin Resources, Inc, Charles B. Johnson, Rupert H. Johnson, Jr reported no remaining BAYTEX ENERGY USA, INC. shareholding in its periodic institutional filing.
27 Jan 2016substantial holder notice● Neutral
BlackRock, Inc reported a BAYTEX ENERGY USA, INC. shareholding of 4,136,364 shares (5.60% of votes) in a periodic institutional filing.
27 Jan 2016listing compliance notice● NeutralMajor
BAYTEX ENERGY USA, INC.'s exchange filed to remove a class of its securities from listing.
21 Jan 2016substantial holder notice● Neutral
ICS Opportunities, Ltd, Integrated Assets, Ltd, Millennium International Management LP, Millennium International Management GP LLC, Millennium Management LLC, Israel A. Englander reported a BAYTEX ENERGY USA, INC. shareholding of 1,123,828 shares (1.50% of votes) in a periodic institutional filing.
8 Jan 2016substantial holder notice● Neutral
Soros Fund Management LLC, George Soros, Robert Soros disclosed a new substantial BAYTEX ENERGY USA, INC. shareholding (8.18% of votes).
10 Nov 2015quarterly activities report● Neutral
BAYTEX ENERGY USA, INC. reported quarterly revenue of $112.0 million for the period ended 2015-09-30.
9 Nov 2015quarterly activities report● Neutral
BAYTEX ENERGY USA, INC. reported quarterly revenue of $112.0 million for the period ended 2015-09-30.
28 Oct 2015director interest notice● Neutral
BAYTEX ENERGY USA, INC. CEO Edward B Cloues II received a stock option grant for 100,000 shares.
1 Oct 2015director interest notice● Neutral
BAYTEX ENERGY USA, INC. director Marsha Reines Perelman received 56,603 shares as part of the equity award.
1 Oct 2015director interest notice● Neutral
BAYTEX ENERGY USA, INC. director Gary K Wright received a stock option grant for 56,603 shares.
1 Oct 2015director interest notice● Neutral
BAYTEX ENERGY USA, INC. director Steven W Krablin received 56,603 shares as part of the equity award.
1 Oct 2015director interest notice● Neutral
BAYTEX ENERGY USA, INC. director Edward B Cloues II received a stock option grant for 56,603 shares.
1 Oct 2015director interest notice● Neutral
BAYTEX ENERGY USA, INC. director John U Clarke received 49,057 shares and a 49,057-share option grant as part of the equity award.
30 July 2015quarterly activities report● Neutral
BAYTEX ENERGY USA, INC. reported quarterly revenue of $83.6 million for the period ended 2015-06-30.