30 Apr 2009quarterly activities report● Neutral
PRIDE INTERNATIONAL INC reported quarterly revenue of $451.9 million and net income of $158.9 million for the period ended 2009-03-31.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
30 Apr 2009quarterly activities report● Neutral
PRIDE INTERNATIONAL INC reported quarterly revenue of $451.9 million and net income of $158.9 million for the period ended 2009-03-31.
12 Feb 2009substantial holder notice● Neutral
Neuberger Berman Inc., Neuberger Berman, LLC disclosed a new substantial PRIDE INTERNATIONAL INC shareholding (5.85% of votes).
23 Jan 2009substantial holder notice● Neutral
Seadrill Limited, Hemen Holding Limited, John Fredriksen reported no remaining PRIDE INTERNATIONAL INC shareholding in its periodic institutional filing.
31 Dec 2008farm in farm out agreement● Neutral
In December 2008, board committees approved revised forms of award agreements for director restricted stock units (2004 plan) and for options and restricted stock units (2007 long-term incentive plan). The directors' form addresses tax-code Section 409A and dividend equivalents. This is a routine paperwork filing, with no new grants or amounts stated.
15 Dec 2008material agreement termination▲ GoodMajor
On Dec 9, 2008, Pride signed a new unsecured revolving credit agreement of up to $300 million (expandable to $600 million) with Citibank as agent, maturing December 2011, with nothing drawn. It ended the secured credit agreement dated July 7, 2004 with no termination penalties, so the 2004 secured facility is replaced by an unsecured one.
2 Dec 2008substantial holder notice● Neutral
Seadrill Limited, Hemen Holding Limited, John Fredriksen disclosed a new substantial PRIDE INTERNATIONAL INC shareholding (9.50% of votes).
31 Oct 2008securities registration● Neutral
PRIDE INTERNATIONAL INC filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
30 Oct 2008quarterly activities report● Neutral
PRIDE INTERNATIONAL INC reported quarterly revenue of $463.3 million and net income of $189.1 million for the period ended 2008-09-30.
30 Oct 2008quarterly activities report● Neutral
PRIDE INTERNATIONAL INC reported quarterly revenue of $463.3 million and net income of $189.1 million for the period ended 2008-09-30.
8 Aug 2008quarterly activities report● Neutral
PRIDE INTERNATIONAL INC reported quarterly revenue of $541.5 million and net income of $187.4 million for the period ended 2008-06-30.
7 Aug 2008quarterly activities report● Neutral
PRIDE INTERNATIONAL INC reported quarterly revenue of $541.5 million and net income of $187.4 million for the period ended 2008-06-30.
21 July 2008substantial holder notice● Neutral
Seadrill Limited, Hemen Holding Limited, John Fredriksen disclosed a new substantial PRIDE INTERNATIONAL INC shareholding (5.00% of votes).
21 July 2008substantial holder notice● Neutral
Seadrill Limited, Hemen Holding Limited, John Fredriksen reported no remaining PRIDE INTERNATIONAL INC shareholding in its periodic institutional filing.
30 May 2008capital raising announcement● Neutral
This amendment updates the May 20 report with final results of the redemption of the 3 1/4% Convertible Senior Notes due 2033. Holders converted $299.7 million of notes and $254,000 was redeemed for cash, so none remain outstanding. Pride paid about $300.0 million in cash and issued about 5.0 million shares (4,987,332 per the table), so the convertible debt is gone with modest dilution.
20 May 2008capital raising announcement● Neutral
After Pride called its 3 1/4% Convertible Senior Notes due 2033 for redemption on May 16, 2008, holders converted notes into stock and the rest were redeemed, leaving none outstanding. This filing reports conversions to May 7 (about $165.3 million of principal, paid in cash plus a small number of shares); a later amendment gives the final totals.
10 Apr 2008substantial holder notice● Neutral
Wellington Management Company, LLP reported a PRIDE INTERNATIONAL INC shareholding of 6,770,456 shares (4.05% of votes) in a periodic institutional filing.
14 Feb 2008substantial holder notice● Neutral
Atticus Capital LP, Atticus Management Limited, Timothy R. Barakett reported no remaining PRIDE INTERNATIONAL INC shareholding in its periodic institutional filing.
14 Feb 2008substantial holder notice● Neutral
Wellington Management Company, LLP reported a PRIDE INTERNATIONAL INC shareholding of 17,608,806 shares (10.55% of votes) in a periodic institutional filing.
14 Feb 2008substantial holder notice● Neutral
Amber Capital LP, Amber Capital GP LLC, Michel Brogard, Joseph Oughourlian reported a PRIDE INTERNATIONAL INC shareholding of 2,072,464 shares (1.20% of votes) in a periodic institutional filing.
7 Sept 2007asset acquisition disposition● NeutralMajor
On Aug 31, 2007, Pride completed the sale of its Latin America Land and E&P Services businesses to GP Investments for $1.0 billion in cash, as agreed on Aug 9. The price is still subject to a working capital adjustment at closing; pro forma financials are attached but their figures are not shown here.
15 Aug 2007material agreement● NeutralMajor
On Aug 9, 2007, Pride agreed to sell the subsidiaries that run its Latin America Land and E&P Services segments to GP Investments Ltd., a Brazil-based private equity firm, for $1.0 billion in cash, subject to a working capital adjustment. Closing is not subject to financing or regulatory filings, Pride agreed not to compete in Mexico, Central America and South America for three years, and either side can terminate after Oct 9, 2007 if it has not closed.
1 June 2007substantial holder notice● Neutral
Amber Capital LP, Amber Capital GP LLC, Michel Brogard, Joseph Oughourlian disclosed a new substantial PRIDE INTERNATIONAL INC shareholding (5.20% of votes).
10 May 2007substantial holder notice● Neutral
Wellington Management Company, LLP reported a PRIDE INTERNATIONAL INC shareholding of 19,429,906 shares (11.75% of votes) in a periodic institutional filing.
14 Feb 2007substantial holder notice● Neutral
Wellington Management Company, LLP disclosed a new substantial PRIDE INTERNATIONAL INC shareholding (5.69% of votes).
14 Feb 2007substantial holder notice● Neutral
Atticus Capital LP, Atticus Management LLC, Timothy R. Barakett reported a PRIDE INTERNATIONAL INC shareholding of 10,554,900 shares (6.43% of votes) in a periodic institutional filing.
13 Feb 2007substantial holder notice● Neutral
Marsh & McLennan Companies, Inc, Putnam, LLC. d/b/a/ Putnam Investments reported a PRIDE INTERNATIONAL INC shareholding of 3,659,939 shares (2.20% of votes) in a periodic institutional filing.
29 Dec 2006farm in farm out agreement● Neutral
In December 2006 the compensation committee revised the standard award agreements under the 1998 incentive plan, for grants after Dec 31, 2006. Options now vest early on death, disability or retirement, and the share-withholding rules for taxes on restricted stock are more flexible. This is a routine paperwork change to equity pay forms; no new grants or amounts are stated.
17 Nov 2006substantial holder notice● Neutral
Atticus Capital LP, Atticus Management LLC, Timothy R. Barakett disclosed a new substantial PRIDE INTERNATIONAL INC shareholding (5.12% of votes).
15 Nov 2006asset acquisition disposition● NeutralMajor
On Nov 8, 2006, Pride bought Synergy Group's 70% stake in the joint venture that owns the semisubmersible rigs Pride Rio de Janeiro and Pride Portland, taking its ownership from 30% to 100%. It paid $215 million in cash plus possible earn-out payments tied to future dayrates, funded from cash on hand and its senior secured revolver. The venture will now be consolidated, adding about $283 million of U.S. Maritime Administration-guaranteed debt maturing in 2016, and Pride paid a further $15 million to cancel future obligations under agency relationships on five Brazil rigs.