6 June 2016director interest notice● Neutral
RSP Permian, Inc. V.P. and General Counsel James E. Mutrie had 766 shares withheld for taxes on vesting stock.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 June 2016director interest notice● Neutral
RSP Permian, Inc. VP, Operations William Huck sold 10,000 shares at $33.00.
25 May 2016director interest notice● Neutral
RSP Permian, Inc. director Ted Collins Jr. sold 42,000 shares.
13 May 2016director interest notice● Neutral
RSP Permian, Inc. EVP of Planning and Reserves Tamara D. Pollard sold 35,000 shares at $32.68.
13 May 2016director interest notice● Neutral
RSP Permian, Inc. Chief Operating Officer Zane W. Arrott sold 50,000 shares at $31.78.
5 May 2016director interest notice● Neutral
RSP Permian, Inc. VP, Operations William Huck sold 4,000 shares at $29.81.
2 May 2016quarterly activities report▼ Bad
RSP Permian, Inc. reported quarterly revenue of $55.8 million and a net loss of $17.4 million for the period ended 2016-03-31.
2 May 2016quarterly activities report▼ Bad
RSP Permian, Inc. reported quarterly revenue of $55.8 million and a net loss of $17.4 million for the period ended 2016-03-31.
25 Feb 2016quarterly activities report▼ Bad
RSP Permian, Inc. reported quarterly revenue of $73.5 million and a net loss of $20.8 million for the period ended 2015-12-31.
17 Feb 2016securities registration● Neutral
RSP Permian, Inc. filed the final prospectus for a registered offering.
12 Feb 2016substantial holder notice● Neutral
Ted Collins, Jr reported a RSP Permian, Inc. shareholding of 19,857,463 shares (19.70% of votes) in a periodic institutional filing.
12 Feb 2016substantial holder notice● Neutral
ACTOIL, LLC, TIAA Oil and Gas Investments, LLC, Teachers Insurance and Annuity Association of America reported a RSP Permian, Inc. shareholding of 7,940,524 shares (7.90% of votes) in a periodic institutional filing.
12 Feb 2016substantial holder notice● Neutral
Wallace Family Partnership, LP, Michael Wallace Management, LLC, Michael W. Wallace, Leslyn M. Wallace reported a RSP Permian, Inc. shareholding of 19,940,372 shares (19.80% of votes) in a periodic institutional filing.
12 Feb 2016substantial holder notice● Neutral
Production Opportunities II, L.P, Natural Gas Partners IX, L.P, NGP IX Offshore Holdings, L.P, G.F.W. Energy IX, L.P, GFW IX, L.L.C, NGP Energy Capital Management, L.L.C, Natural Gas Partners VIII, L.P, G.F.W. Energy VIII, L.P, GFW VIII, L.L.C reported no remaining RSP Permian, Inc. shareholding in its periodic institutional filing.
11 Feb 2016substantial holder notice● Neutral
Wellington Management Group LLP, Wellington Group Holdings LLP, Wellington Investment Advisors Holdings LLP, Wellington Management Company LLP reported a RSP Permian, Inc. shareholding of 8,804,372 shares (8.73% of votes) in a periodic institutional filing.
10 Feb 2016substantial holder notice● Neutral
TIAA-CREF Investment Management, LLC, Teachers Advisors, Inc disclosed a new substantial RSP Permian, Inc. shareholding (5.03% of votes).
10 Feb 2016substantial holder notice● Neutral
TIAA-CREF Investment Management, LLC, Teachers Advisors, Inc disclosed a new substantial RSP Permian, Inc. shareholding (5.03% of votes).
2 Feb 2016business combination● Neutral
RSP Permian filed a registration statement for an offer to swap up to $200 million of the unregistered 6.625% senior notes due 2022 issued August 10, 2015 for identical registered notes. The new notes are freely tradable and fungible with the original $500 million. The company gets no proceeds, and the expiry date is blank. This is the exchange offer promised in the August 2015 registration rights agreement for the add-on notes.
23 Nov 2015material agreement● NeutralMajor
On November 17, 2015, RSP Permian's subsidiary closed the Wolfberry acquisition for about $137.0 million, subject to customary post-closing adjustments. The properties are in Midland and Martin Counties, Texas, and RSP will operate them 100%. This completes the deal first floated in the October letter of intent. Directors Collins and Wallace are members and managers of the seller, so it is a related-party deal. The subsidiary also signed a surface use agreement with Collins & Wallace Holdings, LLC, which is owned equally by Collins and a Wallace family partnership.
2 Nov 2015quarterly activities report● Neutral
RSP Permian, Inc. reported quarterly revenue of $80.6 million and net income of $9.0 million for the period ended 2015-09-30.
2 Nov 2015quarterly activities report● Neutral
RSP Permian, Inc. reported quarterly revenue of $80.6 million and net income of $9.0 million for the period ended 2015-09-30.
13 Oct 2015material agreement● NeutralMajor
RSP Permian agreed with Goldman Sachs to sell 7,600,000 new shares at $25.50 ($24.98 net). The underwriters took up their full 1,140,000-share option, making 8,740,000 shares and about $218.1 million of net proceeds. The money is first meant to fund part of the possible Wolfberry acquisition, with the rest for general corporate purposes. This resolves the underwriters' option question for this offering and issues new shares, diluting existing holders (inference). The filing's closing and signature dates read August 13, 2015, which does not fit an October 7, 2015 agreement.
9 Oct 2015securities registration● Neutral
RSP Permian, Inc. filed a prospectus supplement for an offering off its existing shelf.
7 Oct 2015securities registration● Neutral
RSP Permian, Inc. filed a prospectus supplement for an offering off its existing shelf.
7 Oct 2015production update▲ GoodMajor
RSP Permian said it signed a letter of intent (not yet a binding purchase agreement) on October 6, 2015 to buy Midland Basin acreage and producing wells from Wolfberry Partners Resources for about $137.0 million in cash. $60.0 million is due at closing and the rest within nine months, with interest at the greater of 2.1% or LIBOR plus 1.5%. Directors Ted Collins Jr. (about 40.9%) and Michael Wallace (about 30.7%, through a family partnership) own large stakes in the seller, so the disinterested directors are evaluating it and have hired an adviser for a fairness opinion. The company also reported that the August-September 2015 acquisitions total about 6,600 net surface acres for about $313.0 million, and that third-quarter 2015 production is expected at 23,500-24,000 Boe/d (about 75% oil), up 18%-21% from 19,879 Boe/d in the second quarter. It also raised its internal well-performance estimates for three zones.
25 Aug 2015material agreement▲ GoodMajor
RSP Permian closed its bolt-on Midland Basin acquisitions for about $274 million in cash (5,704 net surface acres, 162 net horizontal drilling locations, 100% operated, over 85 million Boe resource potential by company estimate), and its subsidiary signed a fourth credit facility amendment raising the borrowing base from $500 million to $600 million. The company says nothing is drawn on the facility, and the next redetermination is in May 2016; the amendment also allows up to $150 million of deferred purchase price debt.
17 Aug 2015securities registration● Neutral
RSP Permian, Inc. filed the final prospectus for a registered offering.
12 Aug 2015debt financing● NeutralMajor
The $200 million of additional 6.625% senior notes due 2022 closed on August 10, 2015, with net proceeds of about $196.2 million, issued under the existing September 2014 indenture so they form one class with the original $500 million (total $700 million). The company also agreed to register exchange notes with the SEC, aiming for effectiveness within 270 days of issuance and paying special interest if it misses the deadlines.
7 Aug 2015material agreement● NeutralMajor
On August 4, 2015 RSP Permian agreed with Goldman Sachs to sell 7,000,000 new shares at $22.50 ($22.19 net), with a 30-day option for up to 1,050,000 more. This is the equity offering referenced as funding the Martin and Glasscock acquisitions, and it issues new shares to the public, diluting existing holders' percentage ownership (inference).
6 Aug 2015debt financing● NeutralMajor
RSP Permian priced a private sale of $200 million more of its 6.625% senior notes due 2022 at 99.25% of face, for net proceeds of about $196 million, on top of the existing $500 million. Proceeds, together with an equity offering estimated at about $157.5 million, are meant to fund part of roughly $274 million of Martin and Glasscock county acquisitions, including repaying $50.0 million drawn on the credit facility for that purpose, with the remainder for general corporate purposes.