2 Nov 2009director interest notice● Neutral
Encore Energy Partners LP director George W Passela exercised stock options for 2,500 shares and disposed of 2,500 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
2 Nov 2009director interest notice● Neutral
Encore Energy Partners LP director Luther King Jr. exercised stock options for 2,500 shares and disposed of 2,500 shares.
28 Oct 2009director interest notice● Neutral
Encore Energy Partners LP director Clayton E Melton received a stock option grant for 5,000 shares.
28 Oct 2009director interest notice● Neutral
Encore Energy Partners LP director George W Passela received a stock option grant for 5,000 shares.
28 Oct 2009director interest notice● Neutral
Encore Energy Partners LP director Luther King Jr. received a stock option grant for 5,000 shares.
28 Oct 2009director interest notice● Neutral
Encore Energy Partners LP director John Earl Jackson received a stock option grant for 5,000 shares.
28 Oct 2009director interest notice● Neutral
Encore Energy Partners LP director Arnold L Chavkin received a stock option grant for 5,000 shares.
13 Aug 2009asset acquisition disposition● NeutralMajor
The $190 million drop-down from Encore Operating closed on August 11, 2009 for about $186.8 million cash, for properties with about 12.4 million BOE of proved reserves and about 2,100 BOE per day. On the same day the credit facility's Third Amendment raised the borrowing base from $240 million to $375 million and commitments from $300 million to $475 million, with higher fees and margins; $275 million was outstanding with $100 million of capacity left. EAC's stake is now stated as about 46% of units (down from 58% in the June filing), the same 20,924,055 units; the filing does not say why the percentage changed, and the financing for the purchase is the credit facility and this amendment (inference).
30 June 2009securities registration● Neutral
Encore Energy Partners LP filed a free-writing prospectus - marketing material for an offering in progress.
30 June 2009securities registration● Neutral
Encore Energy Partners LP filed a prospectus supplement for an offering off its existing shelf.
29 June 2009securities registration● Neutral
Encore Energy Partners LP filed the final prospectus for a registered offering.
29 June 2009material agreement▲ GoodMajor
The partnership agreed on June 28, 2009 to buy oil and gas properties in the Big Horn Basin (Wyoming), Permian Basin (West Texas/New Mexico) and Williston Basin (Montana/North Dakota) from parent EAC's subsidiary Encore Operating for $190 million cash, effective April 1, 2009, expected to close in August 2009 and conditioned on ENP obtaining satisfactory financing. The properties have about 12.4 million BOE of proved reserves and produce 2,129 BOE per day; the filing says the deal is expected to be immediately accretive to distributable cash flow per unit, and EAC and affiliates are stated to own about 58% of units. It also lists new oil and gas hedges added for 2010-2012. This is another drop-down from the parent, approved on a Conflicts Committee recommendation.
20 May 2009securities registration● Neutral
Encore Energy Partners LP filed a prospectus supplement for an offering off its existing shelf.
18 May 2009material agreement▲ GoodMajor
The partnership agreed to two more acquisitions expected to close by June 1, 2009: Williston Basin properties in North Dakota and Montana from EAC's subsidiary for $25.8 million cash, and Vinegarone Field gas properties in Val Verde County, Texas for $28.0 million cash. It said it expects to raise its distribution to an annualized $2.05 per unit starting with the second quarter of 2009, assuming both deals close as scheduled. The Williston deal is with the parent and was approved on a Conflicts Committee recommendation; the filing does not name the seller of the Vinegarone properties.
18 May 2009securities registration● Neutral
Encore Energy Partners LP filed the final prospectus for a registered offering.
11 Mar 2009material agreement● Neutral
The partnership's operating subsidiary signed a second amendment to its credit agreement with Bank of America as agent, changing the interest margin and commitment fee terms. Margins range from 1.75% to 2.50% on Eurodollar loans depending on how much of the borrowing base is drawn, and the borrowing base is stated as $240 million, the same level set in February 2008.
19 Feb 2009director interest notice● Neutral
Encore Energy Partners LP director John Earl Jackson exercised stock options for 1,250 shares and disposed of 1,250 shares.
10 Feb 2009director interest notice● Neutral
Encore Energy Partners LP director Luther King Jr. disposed of 2,000 shares via option/appreciation-right settlement.
8 Jan 2009material agreement▲ GoodMajor
The Arkoma Basin and royalty interest acquisition from Encore Operating closed on January 2, 2009 at $49 million, subject to adjustments including about $3 million of hedge premiums, funded by credit facility borrowings. The properties have about 2.8 million BOE of proved reserves, 87% natural gas, and produce about 500 BOE per day. The filing now gives EAC's ownership as about 63% of units, versus 67% in the earlier filings.
5 Jan 2009director interest notice● Neutral
Encore Energy Partners LP SVP, Acquisitions John W Arms exercised stock options for 237,790 shares and disposed of 76,250 shares.
5 Jan 2009director interest notice● Neutral
Encore Energy Partners LP SVP, CFO and Treasurer Robert C Reeves exercised stock options for 340,702 shares and disposed of 109,250 shares.
5 Jan 2009director interest notice● Neutral
Encore Energy Partners LP CEO, President and Director Jon S Brumley exercised stock options for 443,614 shares and disposed of 142,250 shares.
5 Jan 2009director interest notice● Neutral
Encore Energy Partners LP Chairman of the Board I Jon Brumley exercised stock options for 443,614 shares and disposed of 142,250 shares.
5 Jan 2009director interest notice● Neutral
Encore Energy Partners LP SVP and COO L Ben Nivens exercised stock options for 237,790 shares and disposed of 76,250 shares.
16 Dec 2008director interest notice● Neutral
Encore Energy Partners LP director Luther King Jr. bought 9,000 shares on the open market.
10 Dec 2008material agreement● NeutralMajor
The partnership's operating subsidiary agreed to buy Arkoma Basin producing properties, Oklahoma royalty interests and 10,300 unleased mineral acres from EAC's subsidiary for $49 million in cash, about $46 million net of roughly $3 million of hedge premiums. It would be funded from the existing revolving credit facility and was expected to close in early January 2009. This is another purchase from the parent, approved on a Conflicts Committee recommendation.
26 Nov 2008director interest notice● Neutral
Encore Energy Partners LP director Luther King Jr. bought 2,500 shares on the open market at $11.03.
25 Nov 2008director interest notice● Neutral
Encore Energy Partners LP SVP, Acquisitions John W Arms exercised stock options for 2,339 shares and disposed of 750 shares.
25 Nov 2008director interest notice● Neutral
Encore Energy Partners LP CEO, President and Director Jon S Brumley exercised stock options for 2,339 shares and disposed of 750 shares.
25 Nov 2008director interest notice● Neutral
Encore Energy Partners LP Chairman of the Board I Jon Brumley exercised stock options for 2,339 shares and disposed of 750 shares.