Past year: ▼ 78%(11.5c – 80.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
16 Aug 2010material agreement● NeutralMajor
The partnership sold 3,000,000 common units at $33.97 each under an agreement dated Aug 11, 2010, closing Aug 16, with the 450,000-unit over-allotment option exercised in full. Expected net proceeds before the option were about $99.4 million, to fund part of the Petrohawk Mid-Continent purchase, with interim proceeds repaying the credit facility. This continues the pattern of funding acquisitions partly with new units, which adds to units outstanding.
12 Aug 2010securities registration● Neutral
Harvest Oil & Gas Corp. filed a prospectus supplement for an offering off its existing shelf.
10 Aug 2010material agreement▲ GoodMajor
On Aug 9, 2010 the partnership agreed to buy Petrohawk's interest in Mid-Continent oil and gas properties (Anadarko, Arkoma and East Texas) for $123 million, expected to close by end of September 2010. The release says the Appalachian acquisitions have been integrated (the Appalachian Basin deal closed March 30, 2010), and reports Q2 2010 net income of $16.3 million versus a $31.6 million loss in Q2 2009, with production of 6.83 Bcfe. Properties carry ~74.5 Bcfe proved reserves and ~15.5 MMcfe/d net production.
10 Aug 2010securities registration● Neutral
Harvest Oil & Gas Corp. filed the final prospectus for a registered offering.
9 Aug 2010quarterly activities report● Neutral
Harvest Oil & Gas Corp. reported quarterly revenue of $42.0 million and net income of $58.1 million for the period ended 2010-09-30.
2 June 2010director interest notice● Neutral
Gajdica Ronald J became a Harvest Oil & Gas Corp. Senior VP Acquisitions and company insider (initial ownership filing).
2 June 2010director interest notice● Neutral
Harvest Oil & Gas Corp. Senior VP Acquisitions Gajdica Ronald J received a stock option grant for 30,000 shares.
17 May 2010director interest notice● Neutral
Macaskie Kathryn S became a Harvest Oil & Gas Corp. Senior Vice President and company insider (initial ownership filing).
10 May 2010quarterly activities report● Neutral
Harvest Oil & Gas Corp. reported quarterly revenue of $40.9 million and net income of $16.3 million for the period ended 2010-06-30.
30 Apr 2010debt financing● Neutral
The partnership signed a Fourth Amendment to its credit agreement, effective April 26, 2010. Until the next scheduled redetermination (expected around Oct 1, 2010), it may issue up to $200 million of senior debt without the borrowing base being cut by 30% of that debt, and the borrowing base was reaffirmed at $465 million. The $465M level is unchanged from the April 2009 cut.
12 Feb 2010material agreement● NeutralMajor
The partnership sold 3,000,000 new common units at $28.08 each in an offering that closed Feb 12, 2010, and the underwriters' option for 450,000 more units was exercised in full. Expected net proceeds before the option were about $82.2 million, meant to fund part of the Range Resources Appalachian purchase announced Feb 8, with any interim proceeds going to repay the credit facility. This is a continuation of the Range deal; it adds more units outstanding for existing holders (the 2009 offerings were similar).
11 Feb 2010director interest notice● Neutral
Harvest Oil & Gas Corp. Chief Executive Officer Walker John B bought 10,000 shares on the open market at $28.08.
9 Feb 2010securities registration● Neutral
Harvest Oil & Gas Corp. filed a prospectus supplement for an offering off its existing shelf.
8 Feb 2010material agreement▲ GoodMajor
The partnership agreed to buy a 46.15% interest in Appalachian Basin oil and gas properties from a subsidiary of Range Resources for $151.8 million, alongside EnerVest institutional partnerships. The effective date is January 1, 2010, with closing expected by the end of March 2010. The properties are mainly in Ohio, with about 78.8 Bcfe of proved reserves net to the partnership and current net production of about 11.3 MMcfe/d. The CEO called it the second Appalachian acquisition in six months. The related Sept 2009 Appalachian agreement's terms are not shown in the earlier filing. The release adds new 2010-2011 hedges.
8 Feb 2010securities registration● Neutral
Harvest Oil & Gas Corp. filed the final prospectus for a registered offering.
22 Jan 2010director interest notice● Neutral
Harvest Oil & Gas Corp. director James R Larson exercised stock options for 1,375 shares and disposed of 1,375 shares.
22 Jan 2010director interest notice● Neutral
Harvest Oil & Gas Corp. ControllerandPrin. Acct. Ofc Frederick Dwyer exercised stock options for 833 shares and disposed of 833 shares.
22 Jan 2010director interest notice● Neutral
Harvest Oil & Gas Corp. Senior Vice President Macaskie Kathryn S exercised stock options for 17,500 shares and disposed of 17,500 shares.
22 Jan 2010director interest notice● Neutral
Harvest Oil & Gas Corp. Chief Financial Officer Mercer Michael E exercised stock options for 12,500 shares and disposed of 12,500 shares.
20 Jan 2010director interest notice● Neutral
Harvest Oil & Gas Corp. President and COO Houser Mark A exercised stock options for 23,416 shares and disposed of 23,416 shares.
20 Jan 2010director interest notice● Neutral
Harvest Oil & Gas Corp. director Burk Victor exercised stock options for 1,250 shares and disposed of 1,250 shares.
20 Jan 2010director interest notice● Neutral
Harvest Oil & Gas Corp. director Lindahl III George exercised stock options for 1,250 shares and disposed of 1,250 shares.
20 Jan 2010director 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.
20 Jan 2010director interest notice● Neutral
Harvest Oil & Gas Corp. director Gary R Petersen exercised stock options for 1,000 shares and disposed of 1,000 shares.
20 Jan 2010director interest notice● Neutral
Harvest Oil & Gas Corp. Senior VP and CFO Mercer Michael E exercised stock options for 21,250 shares and disposed of 27,068 shares.
20 Jan 2010director interest notice● Neutral
Harvest Oil & Gas Corp. Controller& Principal Acct.Ofc Frederick Dwyer exercised stock options for 2,584 shares and disposed of 2,584 shares.
20 Jan 2010director interest notice● Neutral
Harvest Oil & Gas Corp. director James R Larson exercised stock options for 1,250 shares and disposed of 1,250 shares.
20 Jan 2010director interest notice● Neutral
Harvest Oil & Gas Corp. Senior Vice President Macaskie Kathryn S exercised stock options for 21,250 shares and disposed of 27,068 shares.
20 Jan 2010director 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.
20 Jan 2010director interest notice● Neutral
Harvest Oil & Gas Corp. Chief Executive Officer Walker John B exercised stock options for 25,834 shares and disposed of 25,834 shares.
