23 Nov 2020director interest notice● Neutral
HighPoint Resources Corp director Randy I Stein sold 3,516 shares at $11.89.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
23 Nov 2020director interest notice● Neutral
HighPoint Resources Corp Chief Financial Officer William M Crawford sold 60 shares at $12.13.
23 Nov 2020director interest notice● Neutral
HighPoint Resources Corp Chief Operating Officer Paul W Geiger III sold 2,079 shares.
18 Nov 2020director interest notice● Neutral
HighPoint Resources Corp SVP - General Counsel Kenneth A. Wonstolen disposed of 3,328 shares via option/appreciation-right settlement.
10 Nov 2020listing compliance notice▼ Bad
On November 4, 2020, the NYSE told HighPoint it breached a listing rule because its 30-day average market value was under $50 million (about $41.5 million) and its stockholders' equity was under $50 million (a $12.6 million deficit at September 30, 2020). The company has 45 days to submit a plan to regain compliance within 18 months, and the shares keep trading meanwhile. This is a separate listing problem from the earlier minimum-price notice, and it came the same week as the Bonanza Creek merger agreement.
9 Nov 2020quarterly activities report▼ Bad
HighPoint Resources Corp reported quarterly revenue of $67.3 million and a net loss of $15.8 million for the period ended 2020-09-30.
9 Nov 2020business combination▼ BadMajor
On November 9, 2020, HighPoint agreed to be acquired by Bonanza Creek Energy, with HighPoint's $625 million of 7.0% and 8.75% senior notes to be exchanged for Bonanza Creek shares plus up to $100 million of new Bonanza Creek notes. HighPoint shareholders would get a fixed 0.114 Bonanza Creek share per HighPoint share, about 1.6% of the combined company, versus 68% for existing Bonanza Creek holders and 30.4% for participating noteholders. HighPoint paid Bonanza Creek a $6 million fee at signing. The deal closes out of court if shareholders approve and at least 97.5% of the notes tender; otherwise HighPoint may file a prepackaged Chapter 11 case, with an April 8, 2021 deadline in some scenarios. Fifth Creek-related holders of at least 46.5% of the equity and large noteholder groups have signed a support agreement.
6 Nov 2020material agreement▼ BadMajor
On November 2, 2020, a second credit agreement amendment cut the commitment from $300.0 million to $185.0 million and the borrowing base from $300.0 million to $200.0 million, continuing the reductions from May 2020. It removes the $50.0 million minimum availability requirement added in May and changes some covenants.
3 Aug 2020quarterly activities report▼ Bad
HighPoint Resources Corp reported quarterly revenue of $43.3 million and a net loss of $67.6 million for the period ended 2020-06-30.
3 Aug 2020quarterly activities report▼ Bad
HighPoint Resources Corp reported quarterly revenue of $43.3 million and a net loss of $67.6 million for the period ended 2020-06-30.
16 July 2020director interest notice● Neutral
HighPoint Resources Corp Chief Operating Officer Paul W Geiger III had 8,602 shares withheld for taxes on vesting stock.
10 July 2020substantial holder notice● Neutral
BlackRock, Inc reported a HighPoint Resources Corp shareholding of 2,023,730 shares (0.90% of votes) in a periodic institutional filing.
5 June 2020director interest notice● Neutral
HighPoint Resources Corp director Andrew C Kidd received 87,680 shares as part of the equity award.
5 June 2020director interest notice● Neutral
Andrew C Kidd became a HighPoint Resources Corp director and company insider (initial ownership filing).
5 June 2020director interest notice● Neutral
HighPoint Resources Corp director Mark Stephen Berg disposed of 79,423 shares via option/appreciation-right settlement.
3 June 2020director interest notice● Neutral
HighPoint Resources Corp director Randy I Stein received 88,652 shares as part of the equity award.
2 June 2020director interest notice● Neutral
HighPoint Resources Corp director Mark Stephen Berg received 88,652 shares as part of the equity award.
2 June 2020director interest notice● Neutral
HighPoint Resources Corp director Jim W Mogg received 88,652 shares as part of the equity award.
2 June 2020director interest notice● Neutral
HighPoint Resources Corp director Lori A Lancaster received 88,652 shares as part of the equity award.
2 June 2020director interest notice● Neutral
HighPoint Resources Corp director Edmund P Segner III received 88,652 shares as part of the equity award.
26 May 2020material agreement▼ BadMajor
On May 21, 2020, in its twice-yearly borrowing base review, HighPoint's lenders cut both the borrowing base and the commitment under the 2018 credit agreement from $500.0 million to $300.0 million. The amendment also raises the interest rate on borrowings and requires at least $50.0 million of availability.
19 May 2020director interest notice● Neutral
HighPoint Resources Corp Chief Financial Officer William M Crawford had 2,809 shares withheld for taxes on vesting stock.
4 May 2020quarterly activities report▼ Bad
HighPoint Resources Corp reported quarterly revenue of $79.6 million and a net loss of $1015.6 million for the period ended 2020-03-31.
4 May 2020quarterly activities report▼ Bad
HighPoint Resources Corp reported quarterly revenue of $79.6 million and a net loss of $1015.6 million for the period ended 2020-03-31.
13 Mar 2020listing compliance notice▼ BadMajor
On March 10, 2020 the NYSE told HighPoint its average share price over 30 trading days was below the $1.00 minimum, giving it six months to regain compliance (delisting is possible sooner if the price falls below certain lower thresholds). The company says it proposed a reverse stock split for the April 28, 2020 annual meeting to fix this; shares keep trading as HPR with a ".BC" tag, and the company says there is no event of default under its debt.
26 Feb 2020material agreement● NeutralMajor
On February 20, 2020, HighPoint, FCEC (the former Fifth Creek owner) and NGP amended the 2018 Stockholders Agreement so the board shrinks from twelve to eight directors at the April 28, 2020 annual meeting, with FCEC's board designation right adjusted to match. The same filing furnished 2019 results: a net loss of $134.8 million ($0.64 per share), production of 12.5 MMBoe (up 23%), year-end proved reserves of 127.4 MMBoe (up 22%), and 2020 spending guided about 40% below 2019 with no increased debt.
18 Feb 2020director interest notice● Neutral
HighPoint Resources Corp SVP, Accounting David R Macosko had 35,175 shares withheld for taxes on vesting stock.
18 Feb 2020director interest notice● Neutral
HighPoint Resources Corp Chief Operating Officer Paul W Geiger III had 21,806 shares withheld for taxes on vesting stock.
18 Feb 2020director interest notice● Neutral
HighPoint Resources Corp SVP Geosciences Terry Barrett had 37,554 shares withheld for taxes on vesting stock.
18 Feb 2020director interest notice● Neutral
HighPoint Resources Corp Chief Financial Officer William M Crawford had 50,667 shares withheld for taxes on vesting stock.