4 Oct 2016director interest notice● Neutral
REX ENERGY CORP Chief Accounting Officer Curtis J Walker received 40,000 shares as part of the equity award.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
9 Sept 2016substantial holder notice● Neutral
Franklin Resources, Inc, Charles B. Johnson, Rupert H. Johnson, Jr, Franklin Advisers, Inc reported a REX ENERGY CORP shareholding of 13,984,030 shares (14.70% of votes) in a periodic institutional filing.
6 Sept 2016director interest notice● Neutral
REX ENERGY CORP Chief Accounting Officer Curtis J Walker had 3,626 shares withheld for taxes on vesting stock.
6 Sept 2016director interest notice● Neutral
REX ENERGY CORP Sr. VP, Land & Business Dev F Scott Hodges had 10,398 shares withheld for taxes on vesting stock.
6 Sept 2016director interest notice● Neutral
REX ENERGY CORP President and CEO Thomas Charles Stabley had 38,821 shares withheld for taxes on vesting stock.
6 Sept 2016director interest notice● Neutral
REX ENERGY CORP director John J Zak exercised stock options for 7,820 shares and disposed of 15,640 shares.
6 Sept 2016director interest notice● Neutral
REX ENERGY CORP director John A Lombardi exercised stock options for 7,820 shares and disposed of 15,640 shares.
6 Sept 2016director interest notice● Neutral
REX ENERGY CORP director Lance T Shaner exercised stock options for 7,820 shares and disposed of 15,640 shares.
6 Sept 2016director interest notice● Neutral
REX ENERGY CORP SVP, General Counsel and Secr. Jennifer L Mcdonough had 10,759 shares withheld for taxes on vesting stock.
6 Sept 2016director interest notice● Neutral
REX ENERGY CORP director Jack N Aydin exercised stock options for 4,915 shares and disposed of 9,830 shares.
6 Sept 2016director interest notice● Neutral
REX ENERGY CORP Sr. VP, Exploration Manager David E Pratt had 752 shares withheld for taxes on vesting stock.
6 Sept 2016director interest notice● Neutral
REX ENERGY CORP Chief Operating Officer Robert W Ovitz had 8,868 shares withheld for taxes on vesting stock.
6 Sept 2016director interest notice● Neutral
REX ENERGY CORP director Eric L Mattson exercised stock options for 7,820 shares and disposed of 15,640 shares.
6 Sept 2016director interest notice● Neutral
REX ENERGY CORP CFO Thomas Rajan had 17,204 shares withheld for taxes on vesting stock.
31 Aug 2016director interest notice● Neutral
REX ENERGY CORP Chief Operating Officer Robert W Ovitz bought 10,000 shares on the open market at $0.58.
10 Aug 2016substantial holder notice● Neutral
Franklin Resources, Inc, Charles B. Johnson, Rupert H. Johnson, Jr, Franklin Advisers, Inc reported a REX ENERGY CORP shareholding of 19,369,696 shares (20.30% of votes) in a periodic institutional filing.
5 Aug 2016quarterly activities report▼ Bad
REX ENERGY CORP reported a quarterly net loss of $54.6 million for the period ended 2016-06-30.
2 Aug 2016quarterly activities report▼ Bad
REX ENERGY CORP reported a quarterly net loss of $54.6 million for the period ended 2016-06-30.
25 July 2016capital raising announcement● NeutralMajor
On July 21, 2016 one noteholder swapped $43.5M of the 1.00%/8.00% second-lien notes due 2020 for about 16.8M new common shares, and the notes were cancelled. Rex says this cuts debt by $43.5M and saves about $11.1M of interest, and that debt is down about $84.0M since the end of Q1 with over $22M of interest savings. The cost to common holders is dilution (16.8M new shares), and Rex says it plans similar deals.
6 July 2016material agreement▲ GoodMajor
Rex signed an Eleventh Amendment to its bank credit agreement (July 1, 2016). It keeps the borrowing base at $190M with no cut after the Illinois Basin sale, gives flexibility on how the sale proceeds are used, waives the current ratio test for the June 30, 2016 quarter, and adds a new minimum PDP coverage ratio of 1.65 to 1.00. Rex also announced that its registered exchange of the second-lien notes expired June 29, 2016 with 99.99% of the $631,458,573 of notes tendered; this resolves the open registration-rights thread, and the new notes have substantially identical terms.
21 June 2016capital raising announcement▼ Bad
On June 20, 2016 Rex agreed to swap 102,450 preferred depositary shares for 730,000 new common shares (about 1.0% of shares outstanding after issuance), closing about June 21. This continues the preferred-to-common swaps begun in April and the June 6 deal, so existing common holders are diluted further and less preferred stock remains. Rex says it may buy back or exchange more preferred.
17 June 2016listing compliance notice▼ BadMajor
Rex agreed on June 14, 2016 to sell all its Illinois Basin oil and gas properties (about 76,000 net acres in Illinois, Indiana and Kentucky, producing about 1,700 net barrels a day) to Campbell Development Group for about $40M at closing, plus up to $10M more over three years depending on commodity prices. Closing is expected around Aug 16, 2016. Separately, Nasdaq notified Rex that its share price had stayed below $1.00 for 30 business days. This is the formal deficiency notice following the Feb 2016 warning, and the deadline is now Dec 12, 2016 (the earlier Aug 23 deadline in the context is superseded). Rex may move to the Nasdaq Capital Market for a further 180 days and says it will consider a reverse split.
10 June 2016capital raising announcement● Neutral
On June 6, 2016 Rex agreed to exchange 600,000 preferred depositary shares for 4,350,000 common shares (about 5.6% of shares outstanding after issuance), closing by June 13. This continues the conversion of preferred stock into common stock begun in April, which dilutes existing common holders and reduces the preferred outstanding. Rex says it may repurchase more preferred shares.
10 June 2016substantial holder notice● Neutral
PRIMECAP Management Company reported a REX ENERGY CORP shareholding of 3,645,000 shares (4.97% of votes) in a periodic institutional filing.
9 June 2016substantial holder notice● Neutral
BlackRock, Inc reported a REX ENERGY CORP shareholding of 3,221,128 shares (4.40% of votes) in a periodic institutional filing.
2 June 2016agm notice● Neutral
REX ENERGY CORP 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).
2 June 2016director interest notice● Neutral
REX ENERGY CORP director John W Higbee exercised stock options for 42,472 shares and disposed of 21,236 shares.
2 June 2016director interest notice● Neutral
REX ENERGY CORP director Todd N. Tipton exercised stock options for 43,032 shares and disposed of 21,516 shares.
2 June 2016director interest notice● Neutral
REX ENERGY CORP director Jack N Aydin exercised stock options for 3,200 shares and disposed of 1,600 shares.
1 June 2016securities registration● Neutral
REX ENERGY CORP filed the final prospectus for a registered offering.