Each one in plain English, with the numbers worked through for a shareholder.
4 May 2021listing compliance notice▼ BadMajor
Evolve sold the Palmetto wellbores - the assets it bought from Sanchez Energy for $85 million in 2015 - to Westhoff for about $11.5 million, and disclosed a further listing deficiency in the same filing. A six-year round trip from $85 million to $11.5 million.
Evolve agreed to provide gas lift services to Mesquite Energy on the Piloncillo Ranch for a per-thousand-cubic-foot fee - a small extension of the relationship with its post-bankruptcy main customer.
Now renamed Evolve Transition Infrastructure, the partnership set up a $7 million market issuance programme with Virtu. The size tells the story: the equivalent facility in 2015 was $100 million.
Evolve Transition Infrastructure LP Chief Executive Officer Gerald F Willinger acquired 1,160,714 shares and disposed of 174,221 in a set of related equity transactions.
Stonepeak's warrant over junior securities was amended again. These amendments recur every few months from here on, each one extending or adjusting a claim that ultimately delivered Stonepeak control of the partnership.
Gerald F. Willinger reported a Evolve Transition Infrastructure LP shareholding of 1,092,512 shares (2.00% of votes) in a periodic institutional filing.
A single quarter's preferred distribution to Stonepeak was paid by issuing 22.3 million new common units instead of cash or more preferred. Issuing tens of millions of units to settle one quarter's obligation is what it looks like when preferred capital eats the equity beneath it.
The partnership settled a group of lawsuits involving Dimension Energy Services, Sunbelt, Sanchez Oil & Gas and Mesquite Energy - the renamed, post-bankruptcy Sanchez Energy - clearing litigation inherited from the Sanchez era.
SP COMMON EQUITY LLC, ANTONIO R. SANCHEZ, III, ANTONIO R. SANCHEZ, JR, PATRICIO D. SANCHEZ, EDUARDO A. SANCHEZ reported a Evolve Transition Infrastructure LP shareholding of 63,126 shares (1.00% of votes) in a periodic institutional filing.
Evolve Transition Infrastructure LP director Antonio R Sanchez III acquired 35,320 shares and disposed of 1,204,375 in a set of related equity transactions.