Each one in plain English, with the numbers worked through for a shareholder.
18 Sept 2012material agreement▲ GoodMajor
Now renamed EPL Oil & Gas, the company agreed to buy Hilcorp's Gulf of Mexico shelf subsidiary for $550 million - about 10,000 barrels a day and 36.3 million barrels of proved reserves, mostly ex-Chevron fields next to its own. By far its largest deal since the failed Stone bid, and more than twice the Anglo-Suisse purchase.
Double Black Diamond Offshore Ltd, Black Diamond Offshore Ltd, Double Black Diamond Intermediate Ltd, Double Black Diamond, L.P, Carlson Capital, L.P, Asgard Investment Corp, Asgard Investment Corp. II, Clint D. Carlson, Steven J. Pully reported a EPL OIL & GAS, INC. shareholding of 3,687,273 shares (9.40% of votes) in a periodic institutional filing.
21 May 2012asset acquisition disposition▲ GoodMajor
Energy Partners bought W&T Offshore's 40% of the South Timbalier 41 field for $32.4 million, becoming sole owner of a field it already operated and adding about 960 barrels a day.
EPL OIL & GAS, INC. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
EPL OIL & GAS, INC. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
21 Nov 2011asset acquisition disposition● NeutralMajor
The Main Pass purchase closed at $38.4 million rather than $80 million, because an Apache subsidiary that already held a working interest exercised pre-emption rights over part of the package. The company got about half the assets it had agreed to buy.
Energy Partners agreed to pay $80 million for extra interests in the Main Pass complex it had bought into nine months earlier - from Stone Energy Offshore, a subsidiary of the same Stone Energy it had spent $52 million failing to acquire in 2006.
EPL OIL & GAS, INC. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
EPL OIL & GAS, INC. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
15 Feb 2011asset acquisition disposition▲ GoodMajor
The $210 million of 8.25% notes were issued and the Anglo-Suisse acquisition closed the same day for $200.7 million, the bond proceeds funding the purchase almost exactly. The rebuilt company now had a bond maturity in 2018 and a materially larger oil-weighted asset base.
To pay for the Anglo-Suisse assets the company agreed to sell $210 million of 8.25% senior notes due 2018, raising about $202 million - re-entering the unsecured bond market less than eighteen months after its previous notes were wiped out in bankruptcy, and at a far lower coupon than the 20% it paid on exit.