15 Dec 2022auditor change● Neutral
The Trust dismissed Grant Thornton as its auditor.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
10 Dec 2021business combination● NeutralMajor
Tapstone, the operator behind the Trust's royalty interests since the 2020 bankruptcy sale, was itself acquired by Diversified Energy for $419 million; Tapstone's Trust-related duties passed unchanged to Diversified, which may now be deemed beneficial owner of 23.75 million Trust common units.
27 Apr 2021auditor change● Neutral
The Trust dismissed PricewaterhouseCoopers as its auditor.
11 Dec 2020material agreement● NeutralMajor
As part of Chesapeake Energy's own Chapter 11 bankruptcy, its Mid-Continent assets underlying the Trust's royalty interests were sold at a bankruptcy-court auction to Tapstone Energy for $130.45 million; Tapstone assumed Chesapeake's duties under the Trust agreements, becoming the new operator behind the Trust's royalty stream.
18 Mar 2020listing compliance notice● NeutralMajor
CHESAPEAKE GRANITE WASH TRUST's exchange filed to remove a class of its securities from listing.
28 Feb 2020listing compliance notice▼ BadMajor
Having failed to regain compliance within the cure period, the Trust's units were suspended from NYSE trading and moved to the OTC Pink market under the same CHKR symbol.
4 Sept 2019listing compliance notice▼ Bad
The Trust received a NYSE notice that its units had traded below $1.00 average for 30 consecutive days, starting a six-month cure period.
10 Nov 2016financial restatement▼ Bad
The Trust restated its H1 2016 financials after Chesapeake identified an error that overstated impairment and amortization on the Trust's investment in royalty interests -- an accounting fix, not a change in actual cash distributions.
21 Nov 2011capital raising announcement▲ GoodMajor
Chesapeake Granite Wash Trust completed its IPO of 20 million common units (plus a 3 million-unit underwriter option), with Chesapeake Exploration and its affiliates conveying perpetual and 20-year term overriding royalty interests in Oklahoma Granite Wash oil and gas properties to the Trust.
9 Nov 2011listing compliance notice▲ GoodMajor
the New York Stock Exchange certified CHESAPEAKE GRANITE WASH TRUST's securities for listing, clearing them to begin trading.