4 Mar 2011securities registration● Neutral
Harvest Oil & Gas Corp. filed a prospectus supplement for an offering off its existing shelf.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 Mar 2011securities registration● Neutral
Harvest Oil & Gas Corp. filed the final prospectus for a registered offering.
3 Mar 2011securities registration● Neutral
Harvest Oil & Gas Corp. filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
28 Feb 2011securities registration● Neutral
Harvest Oil & Gas Corp. amended an already-effective registration statement.
28 Jan 2011director interest notice● Neutral
Harvest Oil & Gas Corp. President and COO Houser Mark A bought 6,017 shares on the open market.
19 Jan 2011director interest notice● Neutral
Harvest Oil & Gas Corp. director Lindahl III George exercised stock options for 1,250 shares and disposed of 1,250 shares.
19 Jan 2011director interest notice● Neutral
Harvest Oil & Gas Corp. director Burk Victor exercised stock options for 1,250 shares and disposed of 1,250 shares.
19 Jan 2011director interest notice● Neutral
Harvest Oil & Gas Corp. director Gary R Petersen exercised stock options for 1,000 shares and disposed of 1,000 shares.
19 Jan 2011director interest notice● Neutral
Harvest Oil & Gas Corp. Controller& Principal Acct.Ofc Frederick Dwyer exercised stock options for 4,458 shares and disposed of 4,458 shares.
19 Jan 2011director interest notice● Neutral
Harvest Oil & Gas Corp. director Encap V-b Acquisitions, L.p. exercised stock options for 442 shares and disposed of 442 shares.
19 Jan 2011director interest notice● Neutral
Harvest Oil & Gas Corp. Senior VP Acquisitions Gajdica Ronald J exercised stock options for 7,500 shares and disposed of 7,500 shares.
19 Jan 2011director interest notice● Neutral
Harvest Oil & Gas Corp. director James R Larson exercised stock options for 1,250 shares and disposed of 1,250 shares.
19 Jan 2011director interest notice● Neutral
Harvest Oil & Gas Corp. director Encap Energy Capital Fund V L P exercised stock options for 558 shares and disposed of 558 shares.
19 Jan 2011director interest notice● Neutral
Harvest Oil & Gas Corp. Chief Financial Officer Mercer Michael E exercised stock options for 38,000 shares and disposed of 45,000 shares.
30 Dec 2010asset acquisition disposition● NeutralMajor
The Barnett Shale acquisition from Talon closed Dec 30, 2010: the partnership got a 31.02% interest for an adjusted $295.9 million (below the $300 million agreed), subject to post-closing adjustments, funded with $285 million of credit facility borrowings and available cash. Credit facility debt is now $619 million against a $700 million borrowing base (up from $334 million and $465 million). Financial statements for the acquisition are due within 75 days of closing. This resolves the October agreement.
22 Dec 2010debt financing● NeutralMajor
The partnership signed a Sixth Amendment to its credit agreement (Dec 17, 2010), effective when the Barnett Shale deal closes, raising the borrowing base up to $700 million from $465 million. It also brings back the rule that issuing senior debt between redeterminations cuts the borrowing base by 30% of the debt's principal, replacing the $200 million exception from the Fourth and Fifth Amendments. Separately, the EnerVest omnibus agreement was extended for 2011 at $916,666.67 per month (up from $666,666.67 in 2010), subject to adjustment for acquisitions or divestitures.
17 Dec 2010director interest notice● Neutral
Harvest Oil & Gas Corp. President and COO Houser Mark A received a stock option grant for 37,500 shares.
17 Dec 2010director interest notice● Neutral
Harvest Oil & Gas Corp. director Burk Victor received a stock option grant for 3,500 shares.
17 Dec 2010director interest notice● Neutral
Harvest Oil & Gas Corp. director James R Larson received a stock option grant for 3,500 shares.
17 Dec 2010director interest notice● Neutral
Harvest Oil & Gas Corp. director Encap Energy Capital Fund V L P received a stock option grant for 1,674 shares.
17 Dec 2010director interest notice● Neutral
Harvest Oil & Gas Corp. director Encap V-b Acquisitions, L.p. received a stock option grant for 1,326 shares.
17 Dec 2010director interest notice● Neutral
Harvest Oil & Gas Corp. Chief Executive Officer Walker John B received a stock option grant for 40,000 shares.
17 Dec 2010director interest notice● Neutral
Harvest Oil & Gas Corp. Controlr and Prin, Acct. Ofc. Frederick Dwyer received a stock option grant for 3,500 shares.
17 Dec 2010director interest notice● Neutral
Harvest Oil & Gas Corp. Senior VP Acquisitions Gajdica Ronald J received a stock option grant for 30,000 shares.
17 Dec 2010director interest notice● Neutral
Harvest Oil & Gas Corp. director Lindahl III George received a stock option grant for 3,500 shares.
17 Dec 2010director interest notice● Neutral
Harvest Oil & Gas Corp. director Gary R Petersen received a stock option grant for 3,000 shares.
17 Dec 2010director interest notice● Neutral
Harvest Oil & Gas Corp. Chief Financial Officer Mercer Michael E received a stock option grant for 35,000 shares.
8 Nov 2010quarterly activities report▼ Bad
Harvest Oil & Gas Corp. reported quarterly revenue of $48.4 million and a net loss of $14.5 million for the period ended 2010-12-31.
29 Oct 2010material agreement▲ GoodMajor
On Oct 25, 2010 the partnership, together with EnerVest institutional partnerships, agreed to buy Barnett Shale oil and gas properties (with related hedges) from Talon Oil & Gas LLC; the partnership's 31% interest costs $300 million, with closing expected by end of December 2010. Talon is sponsored by EnCap, whose partnerships own 23.75% of the general partner, and an EnCap founder sits on the board of EV Management, so the seller is a related party. The release says the partnership's share is ~328.5 Bcfe proved reserves (strip prices; 316 Bcfe at SEC prices) and ~27 MMcfe/d, to be funded initially from the credit facility. This is a new, much larger deal following the Sept 2010 Petrohawk closing.
6 Oct 2010asset acquisition disposition▲ GoodMajor
The Petrohawk Mid-Continent acquisition closed Sept 29, 2010 at an adjusted price of $119.9 million (below the $123 million agreed), subject to post-closing adjustments. Credit facility debt after closing was $334 million, and the borrowing base was reaffirmed at $465 million in a Fifth Amendment, which again allows up to $200 million of senior debt without a borrowing base cut until the next redetermination expected around April 1, 2011. Financial statements for the acquisition are due within 75 days of closing. This resolves the August deal; the Aug 2010 unit offering raised $114 million net.