Past year: ▼ 78%(11.5c – 80.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
9 Apr 2018listing compliance notice▼ BadMajor
On April 3, 2018 NASDAQ told the company that, because of the Chapter 11 filing, its common units would be delisted, with trading suspended April 12 unless the company appealed. The company said it intended to appeal. This follows the earlier minimum bid price notices of 2017.
2 Apr 2018bankruptcy or receivership▼ BadMajor
On April 2, 2018 EV Energy Partners and its affiliates filed the pre-packaged Chapter 11 case in Delaware that the March 13 restructuring agreement called for. Every voting class accepted: 100% of bank lenders and over 99% of the noteholders who voted. The plan still gives noteholders 95% of the new stock and existing unitholders 5% plus five-year warrants for 8% (both subject to dilution), and it still needs court confirmation. The filing also says the bankruptcy accelerated the bank facility and the 8.0% notes, but enforcement is automatically stayed. It warns that trading in the units is highly speculative and that prices may bear little relationship to any recovery.
14 Mar 2018material agreement▼ BadMajor
On March 13, 2018 the company and its affiliates signed a Restructuring Support Agreement with holders of about 70% of the 8.0% senior notes, about 94% of the bank lenders, and EnerVest, to file a pre-packaged Chapter 11 by April 8, 2018 and finish by June 22, 2018. Under the plan, noteholders get 95% of the new stock, and existing unitholders get 5% of the new stock plus five-year warrants for 8% (both subject to dilution). Bank lenders get an amended facility, and unsecured creditors are paid in full or left unimpaired. Also, EnerVest's management fee was extended at $1,433,333.33 per month for 2018. The plan still needs bankruptcy court confirmation.
11 Jan 2018substantial holder notice● Neutral
Jerry Roger Kent disclosed a new substantial Harvest Oil & Gas Corp. shareholding (5.08% of votes).
3 Jan 2018listing compliance notice▼ BadMajor
Because units kept trading below $1.00, on Dec 27, 2017 the company applied to move to the NASDAQ Capital Market and asked for another 180 days to regain compliance. It told NASDAQ it would do a reverse unit split if the bid price is not at least $1 for 10 straight business days in that period. It expects approval, which is not yet granted. This continues the July 2017 notice.
5 Dec 2017director interest notice● Neutral
Daniel J Churay became a Harvest Oil & Gas Corp. director and company insider (initial ownership filing).
9 Nov 2017production update▼ Bad
Third quarter 2017 results: net loss of $17.9 million ($0.36 per unit), production of 167.1 Mmcfe/d (down 14% from a year earlier), and adjusted EBITDAX of $17.0 million. Total debt was $606 million ($263 million on the credit facility and $343 million of senior notes due 2019) with liquidity over $65 million. This confirms the $325 million borrowing base, and the next redetermination is April 2018. Drilling updates covered Austin Chalk, Karnes County and Barnett wells, and new crude and propane hedges were added.
9 Nov 2017quarterly activities report▼ Bad
Harvest Oil & Gas Corp. reported quarterly revenue of $60.0 million and a net loss of $40.3 million for the period ended 2017-12-31.
25 Oct 2017material agreement▼ BadMajor
On Oct 23, 2017 the tenth credit facility amendment cut the borrowing base from $375 million to $325 million. It also requires more collateral: mortgaged properties rise from 85% to 95% (and 98% within 15 days), and the security now covers all personal property. The filing does not say why.
9 Aug 2017quarterly activities report▼ Bad
Harvest Oil & Gas Corp. reported quarterly revenue of $52.7 million and a net loss of $17.9 million for the period ended 2017-09-30.
19 July 2017listing compliance notice▼ BadMajor
On July 17, 2017 NASDAQ notified the company that its units had closed below the $1.00 minimum bid price for 30 consecutive business days. Trading is unaffected for now, and the company has until Jan 15, 2018 to get back above $1.00 for 10 consecutive business days.
22 June 2017director interest notice● Neutral
Harvest Oil & Gas Corp. director Houser Mark A bought 21,328 shares on the open market at $0.57.
19 June 2017director interest notice● Neutral
Harvest Oil & Gas Corp. director Houser Mark A bought 40,205 shares on the open market.
14 June 2017director interest notice● Neutral
Harvest Oil & Gas Corp. director Houser Mark A bought 38,467 shares on the open market.
10 May 2017quarterly activities report▼ Bad
Harvest Oil & Gas Corp. reported quarterly revenue of $57.0 million and a net loss of $50.8 million for the period ended 2017-03-31.
2 Feb 2017director interest notice● Neutral
Harvest Oil & Gas Corp. director Kenneth Mariani gifted 51,860 shares.
18 Jan 2017director interest notice● Neutral
Harvest Oil & Gas Corp. Exec. Chairman of the Board Walker John B exercised stock options for 46,625 shares and disposed of 46,625 shares.
18 Jan 2017director interest notice● Neutral
Harvest Oil & Gas Corp. President and CEO Mercer Michael E exercised stock options for 38,313 shares and disposed of 50,822 shares.
18 Jan 2017director interest notice● Neutral
Harvest Oil & Gas Corp. Vice President and CFO Nicholas Bobrowski exercised stock options for 13,142 shares and disposed of 13,142 shares.
18 Jan 2017director interest notice● Neutral
Harvest Oil & Gas Corp. director Kenneth Mariani exercised stock options for 38,500 shares and disposed of 51,070 shares.
18 Jan 2017director interest notice● Neutral
Harvest Oil & Gas Corp. director Burk Victor exercised stock options for 5,032 shares and disposed of 5,032 shares.
18 Jan 2017director interest notice● Neutral
Harvest Oil & Gas Corp. director Houser Mark A exercised stock options for 3,125 shares and disposed of 3,125 shares.
18 Jan 2017director interest notice● Neutral
Harvest Oil & Gas Corp. director James R Larson exercised stock options for 10,064 shares and disposed of 166 shares.
18 Jan 2017director interest notice● Neutral
Harvest Oil & Gas Corp. director Lindahl III George exercised stock options for 5,032 shares and disposed of 5,032 shares.
18 Jan 2017director interest notice● Neutral
Harvest Oil & Gas Corp. Controller Ryan J Flory exercised stock options for 3,338 shares and disposed of 3,338 shares.
17 Jan 2017director interest notice● Neutral
Harvest Oil & Gas Corp. director Encap Energy Capital Fund V L P exercised stock options for 2,714 shares and disposed of 2,714 shares.
17 Jan 2017director interest notice● Neutral
Harvest Oil & Gas Corp. director Gary R Petersen exercised stock options for 4,862 shares and disposed of 4,862 shares.
17 Jan 2017director interest notice● Neutral
Harvest Oil & Gas Corp. director Encap V-b Acquisitions, L.p. exercised stock options for 2,148 shares and disposed of 2,148 shares.
12 Dec 2016director interest notice● Neutral
Harvest Oil & Gas Corp. director James R Larson received a stock option grant for 13,250 shares.
12 Dec 2016director interest notice● Neutral
Harvest Oil & Gas Corp. director Burk Victor received a stock option grant for 13,250 shares.
