18 Jan 2012securities registration● Neutral
Encore Energy Partners LP filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
12 Dec 2011listing compliance notice▼ BadMajor
Encore Energy Partners LP terminated the registration of a class of securities, ending its reporting obligation for them.
1 Dec 2011listing compliance notice● NeutralMajor
Encore Energy Partners LP's exchange filed to remove a class of its securities from listing.
8 Nov 2011quarterly activities report● Neutral
Encore Energy Partners LP reported quarterly revenue of $131.4 million and net income of $96.4 million for the period ended 2011-09-30.
3 Nov 2011quarterly activities report● Neutral
Encore Energy Partners LP reported quarterly revenue of $131.4 million and net income of $96.4 million for the period ended 2011-09-30.
1 Nov 2011business combination● NeutralMajor
The definitive joint proxy statement, dated October 31, 2011, asks ENP unitholders to approve the July 10 merger with Vanguard at 0.75 Vanguard unit per ENP unit. Former ENP unitholders other than VNG would own about 37.8% of the combined company. Last reported prices on October 27, 2011 were $21.29 for ENP and $28.78 for Vanguard. The Vanguard unitholder meeting is set for November 30, 2011 and the ENP conflicts committee and GP board recommend a vote in favor. This continues the merger thread; VNG's 20,924,055 units (about 46.0%) are committed to vote in favor.
8 Aug 2011quarterly activities report● Neutral
Encore Energy Partners LP reported quarterly revenue of $76.5 million and net income of $41.2 million for the period ended 2011-06-30.
4 Aug 2011quarterly activities report● Neutral
Encore Energy Partners LP reported quarterly revenue of $76.5 million and net income of $41.2 million for the period ended 2011-06-30.
3 Aug 2011asset acquisition disposition▲ GoodMajor
On July 29, 2011 the partnership completed the Permian Basin purchase agreed on June 22, at an adjusted price of $40.7 million (versus $42.5 million originally agreed), subject to final adjustments. The price was funded with borrowings under the existing credit agreement, and the partnership entered new oil and gas hedges covering a substantial portion of estimated production through 2014. The acquired assets carry 2.74 million barrels of oil equivalent of proved reserves and about 500 barrels of oil equivalent per day. This resolves the June 2011 acquisition.
12 July 2011substantial holder notice● Neutral
Vanguard Natural Resources, LLC, Vanguard Natural Gas, LLC reported a Encore Energy Partners LP shareholding of 46.00% of votes in a periodic institutional filing.
11 July 2011business combination● NeutralMajor
On July 10, 2011 the partnership agreed to merge with a Vanguard Natural Resources subsidiary, with the partnership surviving as a wholly-owned subsidiary of Vanguard Natural Gas (VNG). Every common unit not held by VNG would be cancelled and converted into 0.75 Vanguard common units, with cash for fractions. VNG already owns the general partner and about 45.6% of the units (20,924,055) and has agreed to vote them for the deal. Closing needs approval from a majority of ENP units and of Vanguard units voting, plus other conditions, with an outside date of December 31, 2011 and a $20.0 million fee payable by ENP if the board or conflicts committee changes its recommendation. This builds on the Vanguard stake first disclosed in January 2011.
23 June 2011material agreement▲ GoodMajor
On June 22, 2011 the partnership agreed to buy producing Permian Basin (West Texas) oil and gas assets from a private seller for $42.5 million, paying a $4.25 million non-refundable deposit. The assets have 2.74 million barrels of oil equivalent of proved reserves (about 70% oil and natural gas liquids, 100% proved developed) and about 500 barrels of oil equivalent per day of net production; closing is expected by August 1, 2011. This is a new bolt-on purchase under Vanguard's control of the general partner.
17 May 2011director interest notice● Neutral
Encore Energy Partners LP director David C Baggett received 2,660 shares as part of the equity award.
12 May 2011director interest notice● Neutral
Encore Energy Partners LP director John Earl Jackson received 2,660 shares as part of the equity award.
12 May 2011director interest notice● Neutral
Encore Energy Partners LP director Martin G White received 2,660 shares as part of the equity award.
13 Apr 2011material agreement● Neutral
On April 8, 2011 the board authorized the same form of indemnification agreement for the remaining board members: Scott W. Smith, Richard A. Robert, Douglas Pence and Tim Hauss. This extends the April 7 filing, which covered the three Conflicts Committee members.
8 Apr 2011auditor change● Neutral
This second amendment to the auditor-change filing adds an updated Ernst & Young letter dated April 8, 2011 re-affirming its agreement with the filing's statements. The dismissal of E&Y and hiring of BDO are otherwise unchanged.
7 Apr 2011material agreement● Neutral
On April 4, 2011 the three members of the general partner's Conflicts Committee entered into amended indemnification agreements covering litigation involving them. The filing says the standard is substantively no different from that in the partnership agreement.
6 Apr 2011auditor change● Neutral
This amendment restates the April 5 auditor-change filing to clarify that the Audit Committee of the general partner's board approved both the dismissal of Ernst & Young and the hiring of BDO on April 4, 2011. The underlying facts are unchanged.
5 Apr 2011auditor change● Neutral
On April 4, 2011 the partnership dismissed Ernst & Young as its auditor and engaged BDO USA for fiscal 2011. The filing states E&Y gave unqualified opinions for 2010 and 2009 and that there were no disagreements or reportable events. The company's address is now Houston, and Scott W. Smith signs as CEO.
25 Mar 2011substantial holder notice● Neutral
Vanguard Natural Resources, LLC, Vanguard Natural Gas, LLC reported a Encore Energy Partners LP shareholding of 46.00% of votes in a periodic institutional filing.
6 Jan 2011substantial holder notice● Neutral
Vanguard Natural Resources, LLC, Vanguard Natural Gas, LLC disclosed a new substantial Encore Energy Partners LP shareholding (46.00% of votes).
6 Jan 2011director interest notice● Neutral
Vanguard Natural Gas, LLC became a Encore Energy Partners LP 10%+ owner and company insider (initial ownership filing).
8 Nov 2010quarterly activities report● Neutral
Encore Energy Partners LP reported quarterly revenue of $35.3 million and net income of $2.4 million for the period ended 2010-09-30.
4 Nov 2010quarterly activities report● Neutral
Encore Energy Partners LP reported quarterly revenue of $35.3 million and net income of $2.4 million for the period ended 2010-09-30.
13 Sept 2010director interest notice● Neutral
Phil Rykhoek became a Encore Energy Partners LP director and company insider (initial ownership filing).
13 Sept 2010director interest notice● Neutral
David C Baggett became a Encore Energy Partners LP director and company insider (initial ownership filing).
13 Sept 2010director interest notice● Neutral
Martin G White became a Encore Energy Partners LP director and company insider (initial ownership filing).
13 Sept 2010director interest notice● Neutral
Ronald Tracy Evans became a Encore Energy Partners LP director and company insider (initial ownership filing).
13 Sept 2010director interest notice● Neutral
Robert L Cornelius became a Encore Energy Partners LP director and company insider (initial ownership filing).