11 May 2009listing compliance notice▼ BadMajor
Grizzly Energy, LLC's securities were notified for removal from listing and registration on its exchange.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
8 May 2009listing compliance notice▲ GoodMajor
the New York Stock Exchange certified Grizzly Energy, LLC's securities for listing, clearing them to begin trading.
30 Apr 2009listing compliance notice▲ Good
Voluntarily moved its unit listing from NYSE Arca to the main New York Stock Exchange, effective mid-May 2009 - an upgrade in listing venue, not a compliance problem.
14 Nov 2008financial restatement▼ BadMajor
Determined its natural gas and oil hedge documentation didn't meet the technical standard for hedge accounting, forcing it to de-designate 2007 hedges after an over-hedged position made them ineffective - a second restatement inside a year, this time tied to real losses during the 2008 commodity slide rather than a clerical error.
14 Oct 2008auditor change● Neutral
Engaged BDO Seidman as its new independent auditor for fiscal 2008, replacing UHY LLP, which had resigned in September over an independence conflict.
2 Sept 2008auditor change● Neutral
Auditor UHY LLP resigned after determining that hiring a member of its own audit team created an independence conflict - not a dispute over the company's books, which UHY had signed off on cleanly.
30 July 2008asset acquisition disposition▲ Good
Closed the South Texas gas acquisition from the Lewis Energy Group affiliate, paying $32 million cash and issuing 1.35 million units, and assumed Lewis's existing gas hedges through 2011.
21 July 2008material agreement▲ GoodMajor
Agreed to buy South Texas natural gas properties from an affiliate of the Lewis Energy Group for about $53.4 million in cash and units, with Lewis continuing to operate the wells and jointly develop undeveloped acreage.
12 May 2008financial restatement● Neutral
Corrected per-unit earnings figures in its 2007 annual report (from $0.24 to $0.39) due to a unit-count calculation error; the fix didn't change total assets, income or cash flow.
4 Feb 2008asset acquisition disposition▲ Good
Closed the Apache Permian Basin purchase at $73.4 million after price adjustments, and locked in swaps covering most of the acquired oil output through 2011.
28 Dec 2007material agreement▲ GoodMajor
Agreed to buy Permian Basin oil and gas properties from Apache Corporation for about $78.3 million, funded through its reserve-based credit facility - the first major acquisition for the newly public upstream MLP.