9 Dec 2015director interest notice● Neutral
Harvest Oil & Gas Corp. Controller Ryan J Flory received a stock option grant for 8,550 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
9 Dec 2015director interest notice● Neutral
Harvest Oil & Gas Corp. director Lindahl III George received a stock option grant for 12,500 shares.
9 Dec 2015director interest notice● Neutral
Harvest Oil & Gas Corp. director Burk Victor received a stock option grant for 12,500 shares.
9 Dec 2015director interest notice● Neutral
Harvest Oil & Gas Corp. director Gary R Petersen received a stock option grant for 12,500 shares.
9 Dec 2015director interest notice● Neutral
Harvest Oil & Gas Corp. director Encap V-b Acquisitions, L.p. received a stock option grant for 5,523 shares.
9 Dec 2015director interest notice● Neutral
Harvest Oil & Gas Corp. director Kenneth Mariani received a stock option grant for 100,000 shares.
9 Dec 2015director interest notice● Neutral
Harvest Oil & Gas Corp. Vice President and CFO Bobrowski Nicholas received a stock option grant for 37,500 shares.
9 Dec 2015director interest notice● Neutral
Harvest Oil & Gas Corp. President and CEO Mercer Michael E received a stock option grant for 91,250 shares.
9 Dec 2015director interest notice● Neutral
Harvest Oil & Gas Corp. director James R Larson received a stock option grant for 12,500 shares.
9 Dec 2015director interest notice● Neutral
Harvest Oil & Gas Corp. director Encap Energy Capital Fund V L P received a stock option grant for 6,977 shares.
9 Dec 2015director interest notice● Neutral
Harvest Oil & Gas Corp. Exec. Chairman of the Board Walker John B received a stock option grant for 112,500 shares.
12 Nov 2015director interest notice● Neutral
Harvest Oil & Gas Corp. officer Walker John B bought 100,000 shares on the open market.
9 Nov 2015quarterly activities report▼ Bad
Harvest Oil & Gas Corp. reported quarterly revenue of $48.0 million and a net loss of $71.3 million for the period ended 2015-12-31.
15 Oct 2015material agreement▲ GoodMajor
On Oct 8, 2015 the credit facility's borrowing base was raised from $500 million to $625 million, ahead of the April 2016 redetermination the company had said was next. The amendment also set a 3.0x cap on senior secured debt to EBITDAX through Dec 31, 2016, set stepped Total Debt limits from 2017, raised interest margins, and let the company use up to $50 million of cash (not loan proceeds) to redeem its senior notes. The CEO says liquidity is over $425 million.
6 Oct 2015asset acquisition disposition● NeutralMajor
The four EnerVest-related acquisitions closed on Oct 1, 2015 for an adjusted $259.4 million, subject to post-closing adjustments, funded mainly by borrowing on the credit facility. The CEO says over $300 million of liquidity remains and that the new assets should add borrowing base capacity at the semi-annual redetermination later in October. This completes the deal announced Sept 3.
9 Sept 2015material agreement● NeutralMajor
On Sept 3, 2015 the company agreed to buy oil and gas properties in the Appalachian Basin, San Juan Basin, Michigan and Austin Chalk, including 100% of Belden & Blake Corporation, for $259 million cash from EnerVest-controlled funds, its sponsor's related entities. The deal is for about 302 Bcfe of proved reserves, is to be funded with cash and revolver borrowings, was approved by the independent Conflicts Committee, and is expected to close Oct 1. It resolves the open Austin Chalk add-on thread by naming it in this deal and excludes Utica Shale and Eagle Ford rights.
10 Aug 2015quarterly activities report▼ Bad
Harvest Oil & Gas Corp. reported quarterly revenue of $38.3 million and a net loss of $9.8 million for the period ended 2015-09-30.
10 June 2015asset acquisition disposition▲ GoodMajor
The sale of the 21% UEO stake closed on June 10, 2015 for $575.0 million cash, less $2.7 million of estimated expenses, to the Williams Partners subsidiary and M3 Ohio Gathering; this resolves the pending UEO sale. The company says it intends to repay all revolver borrowings and hold the rest for future activities, and its pro forma filing shows long-term debt falling by $541 million, from about $1.04 billion to about $499 million. With Cardinal sold in Oct 2014, the filing says it no longer operates in the midstream segment.
1 June 2015material agreement● Neutral
The other UEO member, M3 Ohio Gathering, exercised its right to join the sale, so the 21% stake will go 8% to M3 and 13% to the Williams Partners subsidiary for the same $575 million total. Closing moved up to June 10, 2015 (from mid-July), with the right for M3 to buy the whole stake and a later date up to Sept 1, 2015 if the Williams portion does not close on time.
11 May 2015quarterly activities report● Neutral
Harvest Oil & Gas Corp. reported quarterly revenue of $44.5 million and net income of $164.1 million for the period ended 2015-06-30.
13 Apr 2015director interest notice● Neutral
Harvest Oil & Gas Corp. officer Walker John B bought 300,000 shares on the open market.
6 Apr 2015material agreement▲ GoodMajor
The company's subsidiary agreed on April 2, 2015 to sell its 21% stake in Utica East Ohio Midstream (the pipeline and processing business it built up from 8% in Dec 2012) to a Williams Partners subsidiary for $575 million cash, with closing scheduled for mid-July 2015. The other member of the venture has 60 days to take part of the stake (about 8%) at the same price, and the company expects its credit facility borrowing base to be cut by $150 million at closing; it says it intends to use proceeds first to repay the revolver and hold the rest for future activities. This follows the Cardinal Gas Services sale and, per the CEO, completes its Utica midstream exit.
3 Mar 2015director interest notice● Neutral
Bobrowski Nicholas became a Harvest Oil & Gas Corp. Vice President and CFO and company insider (initial ownership filing).
3 Mar 2015director interest notice● Neutral
Harvest Oil & Gas Corp. director Houser Mark A exercised stock options for 61,000 shares and disposed of 61,000 shares.
3 Mar 2015director interest notice● Neutral
Harvest Oil & Gas Corp. Vice President and CFO Bobrowski Nicholas received a stock option grant for 10,000 shares.
3 Mar 2015director interest notice● Neutral
Kenneth Mariani became a Harvest Oil & Gas Corp. director and company insider (initial ownership filing).
17 Feb 2015substantial holder notice● Neutral
Piper Jaffray Companies reported a Harvest Oil & Gas Corp. shareholding of 2,683,721 shares (5.50% of votes) in a periodic institutional filing.
17 Feb 2015substantial holder notice● Neutral
Brookfield Investment Management Inc disclosed a new substantial Harvest Oil & Gas Corp. shareholding (6.07% of votes).
30 Jan 2015substantial holder notice● Neutral
Robert J. Raymond, RR Advisors, LLC, RCH Energy MLP Fund GP, L.P, RCH Energy MLP Fund, L.P, RCH Energy MLP Fund-A, L.P disclosed a new substantial Harvest Oil & Gas Corp. shareholding (6.80% of votes).
21 Jan 2015director interest notice● Neutral
Harvest Oil & Gas Corp. director Lindahl III George bought 5,000 shares on the open market at $14.81.