18 May 2010director interest notice● Neutral
GEOKINETICS INC V.P., Gen.Counsel, Corp. Sec. Moll William Leo Jr. received 12,000 shares as part of the equity award.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
7 May 2010quarterly activities report● Neutral
GEOKINETICS INC reported quarterly revenue of $119.5 million for the period ended 2010-06-30.
7 May 2010quarterly activities report● Neutral
GEOKINETICS INC reported quarterly revenue of $119.5 million for the period ended 2010-06-30.
29 Apr 2010asset acquisition disposition● Neutral
A second amendment to the February 2010 report on the PGS Onshore acquisition. It adds pro forma financial information (Exhibit 99.4) and refers back to the earlier-filed PGS Onshore financial statements, and repeats the deal terms: a $202.8 million purchase price (against a $210 million estimate), $183.9 million in cash, and about 2.15 million shares to PGS valued at $9.02 each ($19.4 million). The deal terms match the April 28 amendment, so this adds the pro forma figures rather than changing the deal.
28 Apr 2010asset acquisition disposition● Neutral
This amendment to the February 2010 report adds PGS Onshore financial statements and pro forma figures (incorporated or attached as exhibits) and restates the deal. It changes the accounting value of the shares issued to PGS: 2.15 million shares at a fair market value of $9.02 each, or $19.4 million, rather than $12.11 ($26.1 million). The stated purchase price is now $202.8 million, against the original estimate of $210 million. The $183.9 million cash portion is unchanged.
9 Apr 2010director interest notice● Neutral
Moll William Leo Jr. became a GEOKINETICS INC V.P., Gen.Counsel, Corp. Sec. and company insider (initial ownership filing).
2 Apr 2010director interest notice● Neutral
GEOKINETICS INC director Anthony Tripodo received 4,000 shares as part of the equity award.
1 Apr 2010director interest notice● Neutral
Langseth Gottfred became a GEOKINETICS INC director and company insider (initial ownership filing).
1 Apr 2010director interest notice● Neutral
Anthony Tripodo became a GEOKINETICS INC director and company insider (initial ownership filing).
29 Mar 2010director interest notice● Neutral
GEOKINETICS INC director Steven A Webster received 4,000 shares as part of the equity award.
29 Mar 2010director interest notice● Neutral
GEOKINETICS INC director William R Ziegler received 4,000 shares as part of the equity award.
29 Mar 2010director interest notice● Neutral
GEOKINETICS INC director Christopher D Strong received 4,000 shares as part of the equity award.
29 Mar 2010director interest notice● Neutral
GEOKINETICS INC director Cabes Robert L Jr. received 4,000 shares as part of the equity award.
29 Mar 2010director interest notice● Neutral
GEOKINETICS INC director Gary M Pittman received 4,000 shares as part of the equity award.
29 Mar 2010director interest notice● Neutral
GEOKINETICS INC director Christopher M Harte received 4,000 shares as part of the equity award.
25 Mar 2010director interest notice● Neutral
GEOKINETICS INC Executive VP Parker Lee received 3,000 shares as part of the equity award.
25 Mar 2010director interest notice● Neutral
GEOKINETICS INC CFO Mccurdy Scott A received 3,000 shares as part of the equity award.
25 Mar 2010director interest notice● Neutral
GEOKINETICS INC President and CEO Miles Richard F received 6,000 shares as part of the equity award.
22 Feb 2010director interest notice● Neutral
Geo Services Asa Petroleum became a GEOKINETICS INC 10%+ owner and company insider (initial ownership filing).
16 Feb 2010substantial holder notice● Neutral
Bay Harbour Management, L.C reported no remaining GEOKINETICS INC shareholding in its periodic institutional filing.
16 Feb 2010asset acquisition disposition● NeutralMajor
The PGS Onshore acquisition closed on February 12, 2010. The price was $210 million less a $2.8 million working capital adjustment (subject to further adjustment), paid as $183.9 million cash plus 2,153,616 new shares (valued at $12.11, or $26.1 million; about 12% of current shares). The cash came from the $300 million notes released from escrow; the PNC facility was repaid and terminated and replaced with a new $50 million RBC revolving credit facility. PGS can name two directors (none named yet), and the Series B and Series C preferred terms were amended as planned. This resolves the pending acquisition and financing threads.
12 Feb 2010substantial holder notice● Neutral
Andreeff Equity Advisors, L.L.C, Dane Andreeff, Maple Leaf Capital I, L.L.C, Maple Leaf Partners, L.P, Maple Leaf Partners I, L.P, Maple Leaf Offshore, Ltd reported a GEOKINETICS INC shareholding of 1,409,410 shares (13.02% of votes) in a periodic institutional filing.
4 Feb 2010substantial holder notice● Neutral
Signia Capital Management, LLC reported no remaining GEOKINETICS INC shareholding in its periodic institutional filing.
8 Jan 2010director interest notice● Neutral
GEOKINETICS INC 10%+ owner Dane Andreeff sold 149,068 shares.
6 Jan 2010debt financing● Neutral
This amendment repeats the December 23, 2009 report of the $300 million 9.75% senior secured notes due 2014 and adds an Item 2.03 line formally treating the notes as a direct financial obligation. No new terms or figures are added.
30 Dec 2009director interest notice● Neutral
GEOKINETICS INC director Christopher M Harte sold 2,127 shares at $19.11.
28 Dec 2009material agreement● NeutralMajor
On December 23, 2009 Geokinetics' subsidiary Geokinetics Holdings USA closed a private sale of $300 million of 9.75% senior secured notes due December 15, 2014, issued at 98.093% of face value and guaranteed by Geokinetics Inc. and certain subsidiaries. This is the capital markets debt financing planned alongside the PGS Onshore purchase; the filing itself does not say how the money will be used.
22 Dec 2009director interest notice● Neutral
GEOKINETICS INC 10%+ owner Avista Capital Partners Gp, LLC disposed of 133,982 shares via option/appreciation-right settlement.
16 Dec 2009securities registration● Neutral
GEOKINETICS INC filed a prospectus supplement for an offering off its existing shelf.
16 Dec 2009material agreement● NeutralMajor
Geokinetics agreed on December 14, 2009 to sell 4,000,000 new common shares at $9.25 each through underwriters led by RBC Capital Markets, with a 30-day option for up to 600,000 more. The press release says net proceeds should be about $34.8 million (before any extra shares) and will go toward the cash price of the PGS Onshore purchase, with any remainder for general purposes. The offering is not conditional on the PGS deal closing, and it dilutes existing shareholders.