20 Apr 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Habachy Steve Saad sold 18,400 shares at $19.40.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
17 Apr 2015material agreement● NeutralMajor
On April 14, 2015 MRD's subsidiary MRD Operating LLC signed an amended and restated gas processing agreement and four other midstream agreements (area of mutual interest, gathering, gas transportation, transportation services) with PennTex North Louisiana entities, with 15-year primary terms. PennTex is a joint venture of Natural Gas Partners affiliates in which an MRD Holdco subsidiary holds a minority stake, so these are related-party deals that the audit committee reviewed and approved. Once the first plant is operational MRD must pay a minimum processing fee of about $18.3 million a year, rising to about $55.0 million a year once the second plant is operational, plus gathering and transportation charges; it also gives PennTex exclusive rights to build MRD's midstream infrastructure in northern Louisiana. The filing says Operating was already obligated to enter these under a March 2014 agreement.
17 Apr 2015business combination● Neutral
MRD filed a registration statement (Form S-4) on April 17, 2015 for the exchange offer promised when it issued the notes: holders of up to $600,000,000 of unregistered 5.875% Senior Notes due 2022 (issued July 10, 2014) can swap them for registered notes with materially identical terms. The filing says the new notes are guaranteed by Beta Operating Company, LLC, Memorial Resource Finance Corp. and MRD Operating LLC. The exchange does not change the debt amount or terms; the expiry date was blank in the draft, and the document is not yet effective. This continues the exchange-offer thread from the July 2014 notes.
16 Apr 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Habachy Steve Saad sold 100,000 shares at $19.30.
16 Apr 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Eschete Paul Ray Jr. sold 200,000 shares.
16 Apr 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Nabors John sold 6,832 shares at $19.00.
15 Apr 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Eckerman Steven Wayne sold 100,000 shares at $18.56.
15 Apr 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Nabors John sold 21,513 shares at $19.00.
14 Apr 2015debt financing▲ Good
The December 2014 $50.0 million buyback finished in March 2015 with 2,888,684 shares repurchased (and, per the press release, retired). On April 13-14, 2015 MRD signed a fourth credit agreement amendment and its board authorized a new buyback of up to $50.0 million, again with no obligation to buy. The press release also says the banks re-affirmed the $725.0 million borrowing base, with the next redetermination scheduled for October 1, 2015.
8 Apr 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Hebert William sold 78 shares at $18.50.
8 Apr 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Nabors John sold 5,655 shares at $18.50.
7 Apr 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Nabors John sold 16,000 shares at $18.24.
6 Apr 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Eschete Paul Ray Jr. sold 142,133 shares.
6 Apr 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Eckerman Steven Wayne sold 145,045 shares.
3 Apr 2015agm notice● Neutral
Range Resources - Louisiana, Inc. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
3 Apr 2015agm notice● Neutral
Range Resources - Louisiana, Inc. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
1 Apr 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Cole Herbert William sold 20,000 shares at $17.25.
1 Apr 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Eschete Paul Ray Jr. sold 100,000 shares at $17.59.
1 Apr 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Eckerman Steven Wayne sold 100,000 shares at $17.44.
27 Mar 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Nabors John sold 8,000 shares at $18.00.
27 Mar 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Eschete Paul Ray Jr. sold 9,294 shares at $17.81.
27 Mar 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Hebert William sold 50,000 shares at $17.50.
25 Mar 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Nabors John sold 8,000 shares at $17.72.
24 Mar 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Eschete Paul Ray Jr. sold 81,790 shares.
24 Mar 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Eckerman Steven Wayne sold 100,310 shares.
20 Mar 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Habachy Steve Saad sold 300,000 shares at $17.59.
11 Mar 2015quarterly activities report▼ Bad
Range Resources - Louisiana, Inc. reported a quarterly net loss of $112.1 million for the period ended 2015-03-31.
24 Feb 2015quarterly activities report▼ Bad
Range Resources - Louisiana, Inc. reported a quarterly net loss of $112.1 million for the period ended 2015-03-31.
23 Jan 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Munsey Michael Warren sold 28,098 shares at $19.00.
23 Jan 2015director interest notice● Neutral
Range Resources - Louisiana, Inc. insider Munsey Michael Warren sold 223,828 shares at $19.00.