11 Apr 2018securities registration● Neutral
DENBURY INC filed a prospectus supplement covering resales by selling shareholders.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
6 Apr 2018securities registration● Neutral
DENBURY INC filed a prospectus supplement covering resales by selling shareholders.
14 Feb 2018substantial holder notice● Neutral
Capital Research Global Investors ** reported a DENBURY INC shareholding of 33,936,954 shares (8.40% of votes) in a periodic institutional filing.
9 Feb 2018substantial holder notice● Neutral
The Vanguard Group reported a DENBURY INC shareholding of 42,005,356 shares (10.44% of votes) in a periodic institutional filing.
6 Feb 2018securities registration● Neutral
DENBURY INC filed a prospectus supplement covering resales by selling shareholders.
6 Feb 2018substantial holder notice● Neutral
SailingStone Capital Partners LLC, SailingStone Holdings LLC, MacKenzie B. Davis, Kenneth L. Settles Jr, Victory Global Natural Resources Fund reported a DENBURY INC shareholding of 29,193,261 shares (7.30% of votes) in a periodic institutional filing.
19 Jan 2018substantial holder notice● Neutral
BlackRock, Inc reported a DENBURY INC shareholding of 52,974,394 shares (13.10% of votes) in a periodic institutional filing.
11 Jan 2018director interest notice● Neutral
DENBURY INC VP & Chief Accounting Officer Alan Rhoades had 3,744 shares withheld for taxes on vesting stock.
11 Jan 2018director interest notice● Neutral
DENBURY INC EVP, CAO, GC & Sec'y James S. Matthews had 3,779 shares withheld for taxes on vesting stock.
11 Jan 2018capital raising announcement● NeutralMajor
A further exchange offer closed on 9 January 2018: about $174.3 million of old 2021, 2022 and 2023 subordinated notes were swapped for about $133.5 million of new notes ($74.1 million of 9¼% second lien notes and $59.4 million of 5% convertibles due 2023). The convertibles could become up to 16.7 million shares. Combined with the December exchanges, debt principal falls by about $184.4 million, rising to about $269 million if the 3½% convertibles convert and about $329 million if the new 5% convertibles also convert. Outstanding subordinated notes are now $203.5 million (2021), $314.6 million (2022) and $308.0 million (2023).
14 Dec 2017securities registration● Neutral
DENBURY INC filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
12 Dec 2017capital raising announcement● NeutralMajor
The November exchange closed on 6 December 2017: about $610 million of old subordinated notes were swapped for about $467 million of new notes (~$382 million 9¼% second lien notes due March 2022 and ~$85 million 3½% convertibles due March 2024). The 2022 subordinated notes fall to $409 million and the 2023 notes to $377 million. The new second lien notes share security equally with the 9% 2021 second lien notes, and both new indentures restrict dividends and share buybacks. The convertibles can turn into 38-39 million shares, so existing shareholders may be diluted.
30 Nov 2017capital raising announcement● NeutralMajor
Denbury announced agreements to swap about $610 million of its 5½% 2022 and 4⅝% 2023 subordinated notes for about $466 million of new notes: ~$382 million of 9¼% second lien notes due 2022 and ~$85 million of 3½% convertible notes due 2024. This continues the 2016 pattern of exchanging subordinated debt for secured debt. The convertibles could become 38-39 million new shares (automatic conversion if the stock is at or above $2.65 for 10 of 15 trading days), which would dilute existing holders. Management says debt falls $144 million at closing, or about $228 million if the convertibles fully convert. Closing was expected around 6 December 2017.
7 Nov 2017quarterly activities report● Neutral
DENBURY INC reported quarterly revenue of $266.6 million and net income of $442 thousand for the period ended 2017-09-30.
7 Nov 2017quarterly activities report● Neutral
DENBURY INC reported quarterly revenue of $266.6 million and net income of $442 thousand for the period ended 2017-09-30.
3 Oct 2017director interest notice● Neutral
DENBURY INC President and CEO Christian S Kendall had 22,079 shares withheld for taxes on vesting stock.
11 Sept 2017director interest notice● Neutral
DENBURY INC President and CEO Christian S Kendall had 41,531 shares withheld for taxes on vesting stock.
8 Aug 2017quarterly activities report● Neutral
DENBURY INC reported quarterly revenue of $261.2 million and net income of $14.4 million for the period ended 2017-06-30.
8 Aug 2017quarterly activities report● Neutral
DENBURY INC reported quarterly revenue of $261.2 million and net income of $14.4 million for the period ended 2017-06-30.
13 July 2017director interest notice● Neutral
DENBURY INC SVP, General Counsel & Sec'y James S. Matthews received 160,000 shares as part of the equity award.
13 July 2017director interest notice● Neutral
DENBURY INC President and CEO Christian S Kendall received 400,000 shares as part of the equity award.
13 July 2017director interest notice● Neutral
DENBURY INC VP & Chief Accounting Officer Alan Rhoades received 198,420 shares as part of the equity award.
11 July 2017director interest notice● Neutral
DENBURY INC President and CEO Christian S Kendall had 39,866 shares withheld for taxes on vesting stock.
11 July 2017director interest notice● Neutral
DENBURY INC SVP, General Counsel & Sec'y James S. Matthews had 10,397 shares withheld for taxes on vesting stock.
11 July 2017director interest notice● Neutral
DENBURY INC VP & Chief Accounting Officer Alan Rhoades had 11,490 shares withheld for taxes on vesting stock.
3 July 2017director interest notice● Neutral
DENBURY INC President and CEO Christian S Kendall received 422,223 shares as part of the equity award.
25 May 2017director interest notice● Neutral
DENBURY INC director Michael B Decker received 71,911 shares as part of the equity award.
25 May 2017director interest notice● Neutral
DENBURY INC director John Dielwart received 71,911 shares as part of the equity award.
25 May 2017director interest notice● Neutral
DENBURY INC director Lynn A Peterson received 71,911 shares as part of the equity award.
25 May 2017director interest notice● Neutral
Lynn A Peterson became a DENBURY INC director and company insider (initial ownership filing).