14 May 2010director interest notice● Neutral
Anthony Carl Isaac became a CRIMSON EXPLORATION INC. Senior VP - Operations and company insider (initial ownership filing).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
22 Jan 2010substantial holder notice● Neutral
Barclays PLC disclosed a new substantial CRIMSON EXPLORATION INC. shareholding (9.22% of votes).
13 Jan 2010substantial holder notice● Neutral
OCM GW Holdings, LLC, OCM Principal Opportunities Fund III, L.P, OCM Principal Opportunities Fund III GP, L.P, Oaktree Fund GP I, L.P, Oaktree Capital I, L.P, OCM Holdings I, LLC, Oaktree Holdings, LLC, Oaktree Capital Group, LLC, Oaktree Capital Group Holdings, L.P, Oaktree Capital Group Holdings GP, LLC reported a CRIMSON EXPLORATION INC. shareholding of 15,537,344 shares (40.43% of votes) in a periodic institutional filing.
30 Dec 2009substantial holder notice● Neutral
Allan D. Keel reported a CRIMSON EXPLORATION INC. shareholding of 1,201,842 shares (3.07% of votes) in a periodic institutional filing.
30 Dec 2009substantial holder notice● Neutral
E. Joseph Grady reported a CRIMSON EXPLORATION INC. shareholding of 450,317 shares (1.16% of votes) in a periodic institutional filing.
22 Dec 2009capital raising announcement▲ GoodMajor
Crimson sold 20,000,000 new common shares at $5.00 in a public offering that closed December 22, 2009, for about $93.1M net (underwriters hold an option for 3,000,000 more). $83.1M of it repaid revolver debt, and the Series G and H preferred shares converted into about 12,100,736 common shares. This resolves the preferred-heavy structure for those two series and adds significant dilution, but cuts bank debt.
21 Dec 2009director interest notice● Neutral
CRIMSON EXPLORATION INC. director Ocm Gw Holdings, LLC received a stock option grant for 76,710 shares.
21 Dec 2009substantial holder notice● Neutral
OCM GW Holdings, LLC, OCM Principal Opportunities Fund III, L.P, OCM Principal Opportunities Fund III GP, L.P, Oaktree Fund GP I, L.P, Oaktree Capital I, L.P, OCM Holdings I, LLC, Oaktree Holdings, LLC, Oaktree Capital Group, LLC, Oaktree Capital Group Holdings, L.P, Oaktree Capital Group Holdings GP, LLC reported a CRIMSON EXPLORATION INC. shareholding of 8,427,884 shares (65.65% of votes) in a periodic institutional filing.
18 Dec 2009director interest notice● Neutral
CRIMSON EXPLORATION INC. Pres & Chief Exec Officer Allan D Keel received a stock option grant for 600 shares.
18 Dec 2009director interest notice● Neutral
CRIMSON EXPLORATION INC. director Ocm Crimson Holdings, LLC received a stock option grant for 76,710 shares.
18 Dec 2009securities registration● Neutral
CRIMSON EXPLORATION INC. filed the final prospectus for a registered offering.
17 Dec 2009securities registration● Neutral
CRIMSON EXPLORATION INC. filed a free-writing prospectus - marketing material for an offering in progress.
16 Dec 2009director interest notice● Neutral
Cassidy Jahn Traub became a CRIMSON EXPLORATION INC. director and company insider (initial ownership filing).
16 Dec 2009listing compliance notice▲ GoodMajor
Nasdaq certified CRIMSON EXPLORATION INC.'s securities for listing, clearing them to begin trading.
11 Dec 2009securities registration● Neutral
CRIMSON EXPLORATION INC. amended a filing by which it registered a securities offering with the SEC.
8 Dec 2009securities registration● Neutral
CRIMSON EXPLORATION INC. amended a filing by which it registered a securities offering with the SEC.
20 Nov 2009securities registration● Neutral
CRIMSON EXPLORATION INC. registered a securities offering with the SEC.
13 Nov 2009debt financing▼ BadMajor
On November 6, 2009 Crimson got lender waivers of its current-ratio and leverage covenants for the quarter ended September 30, 2009 under both the senior revolver and the $150M second lien loan, and its revolver borrowing base was set at $140.0M with $129.5M outstanding. It also issued a $10.0M unsecured note to Wells Fargo (due Jan 15, 2010, proceeds used to repay revolver debt), backed by $10.0M that majority holder Oaktree put in escrow, and paid Oaktree a $2.0M 8% subordinated note (due no earlier than Nov 8, 2012) for that support. This follows the July 2009 amendment and shows covenant relief was needed again; Oaktree is propping up the company.
10 Sept 2009director interest notice● Neutral
CRIMSON EXPLORATION INC. Sr Vice President Jay S Mengle had 1,406 shares withheld for taxes on vesting stock.
10 Sept 2009director interest notice● Neutral
CRIMSON EXPLORATION INC. Pres & Chief Exec Officer Allan D Keel had 11,684 shares withheld for taxes on vesting stock.
10 Sept 2009director interest notice● Neutral
CRIMSON EXPLORATION INC. Sr Vice President Tracy Price had 3,542 shares withheld for taxes on vesting stock.
10 Sept 2009director interest notice● Neutral
CRIMSON EXPLORATION INC. Sr Vice President-Exploration Thomas H Atkins had 1,195 shares withheld for taxes on vesting stock.
10 Sept 2009director interest notice● Neutral
CRIMSON EXPLORATION INC. Sr VP & Chief Fin Officer E Joseph Grady had 3,745 shares withheld for taxes on vesting stock.
2 Sept 2009director interest notice● Neutral
CRIMSON EXPLORATION INC. Sr Vice President Jay S Mengle had 3,832 shares withheld for taxes on vesting stock.
2 Sept 2009director interest notice● Neutral
CRIMSON EXPLORATION INC. Sr VP & Chief Fin Officer E Joseph Grady had 3,946 shares withheld for taxes on vesting stock.
2 Sept 2009director interest notice● Neutral
CRIMSON EXPLORATION INC. Sr Vice President-Exploration Thomas H Atkins had 3,792 shares withheld for taxes on vesting stock.
2 Sept 2009director interest notice● Neutral
CRIMSON EXPLORATION INC. Pres & Chief Exec Officer Allan D Keel had 3,764 shares withheld for taxes on vesting stock.
2 Sept 2009director interest notice● Neutral
CRIMSON EXPLORATION INC. Sr Vice President Tracy Price had 3,805 shares withheld for taxes on vesting stock.
7 Aug 2009director interest notice● Neutral
Terence W Lynch became a CRIMSON EXPLORATION INC. Controller & CAO and company insider (initial ownership filing).
5 Aug 2009material agreement▼ BadMajor
On July 31, 2009 Crimson and its bank group amended the May 2007 senior revolver: borrowing costs rise (LIBOR margin 2.75%-3.50%, commitment fee 0.500%), and the debt limits for the June 30, 2009 quarter are loosened (leverage ratio up to 3.25x instead of 2.75x; current ratio down to 0.75 from 1.00). The next borrowing base review is set for November 2, 2009. The filing states the changes but not why they were needed; it is an inference that the company wanted covenant room for that quarter.