15 Sept 2020director interest notice● Neutral
SandRidge Permian Trust 10%+ owner Montare Resources I, LLC bought 23,400 shares on the open market.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
11 Sept 2020substantial holder notice● Neutral
Avalon Energy, LLC, Montare Resources I, LLC reported a SandRidge Permian Trust shareholding of 13,125,000 shares (25.00% of votes) in a periodic institutional filing.
10 Sept 2020director interest notice● Neutral
SandRidge Permian Trust 10%+ owner Montare Resources I, LLC bought 1,265,688 shares on the open market.
9 Sept 2020listing compliance notice▼ BadMajor
The Trust did not regain compliance by the September 5, 2020 end of its cure period, so the NYSE suspended trading after September 8, 2020 and started delisting proceedings. The units were expected to trade on the OTC Pink market as 'PERS' from September 9, a less liquid market. This continues the January 2020 listing warning and the outcome is the one it warned of.
8 Sept 2020substantial holder notice● Neutral
Avalon Energy, LLC reported a SandRidge Permian Trust shareholding of 13,125,000 shares (25.00% of votes) in a periodic institutional filing.
4 Sept 2020director interest notice● Neutral
Montare Resources I, LLC became a SandRidge Permian Trust 10%+ owner and company insider (initial ownership filing).
4 Sept 2020director interest notice● Neutral
Avalon Energy, LLC became a SandRidge Permian Trust company insider (initial ownership filing).
28 Aug 2020substantial holder notice● Neutral
Avalon Energy, LLC reported a SandRidge Permian Trust shareholding of 13,125,000 shares (25.00% of votes) in a periodic institutional filing.
27 Aug 2020substantial holder notice● Neutral
Avalon Energy, LLC reported a SandRidge Permian Trust shareholding of 13,125,000 shares (25.00% of votes) in a periodic institutional filing.
23 Jan 2020asset acquisition disposition● Neutral
The Trust announced a quarterly distribution of about $4.19 million, or $0.080 per unit, for the quarter ended December 31, 2019, payable by February 28, 2020. The filing says production is expected to decline each quarter because no more development wells will be drilled, and the Trustee is withholding $190,000 for cash reserves. The filing is labelled an asset disposition but contains no sale or acquisition.
3 Jan 2020listing compliance notice▼ BadMajor
The NYSE told the Trust on December 27, 2019 that it fell short of listing standards because the average unit price was below $1.00 over 30 trading days. The Trust has six months to get back above $1.00 and says it will not try a reverse split or similar step. Delisting is possible if it fails.
13 Nov 2018substantial holder notice● Neutral
AVALON ENERGY, LLC EIN disclosed a new substantial SandRidge Permian Trust shareholding (25.00% of votes).
5 Nov 2018material agreement● NeutralMajor
On November 1, 2018, SandRidge sold all of its interests in the properties underlying the Trust and all its Trust units to Avalon Energy, LLC. Avalon took over SandRidge's obligations under the Trust Agreement and the Administrative Services Agreement. The filing says the Trust expects to continue without disruption and the sale is not expected to affect operations or future distributions. This ends SandRidge's role set up at the 2011 IPO.
16 Mar 2016late filing notice▼ Bad
SandRidge Permian Trust notified the SEC that its annual report would be filed late.
29 Oct 2015dividend declaration● Neutral
The trust declared 25 cents a unit, $9.9 million in total, for the September 2015 quarter - money earned on Permian production from June to August, after the oil price had already halved.
24 Oct 2012securities registration● Neutral
SandRidge Permian Trust filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
13 Apr 2012debt financing● Neutral
On April 12, 2012, certain oil hedging contracts that SandRidge had with Morgan Stanley were transferred directly to the Trust, as foreseen in the August 2011 Derivatives Agreement. They cover set quarterly oil volumes (for example 105,520.6 barrels for April-June 2012) through March 31, 2015.
20 Mar 2012substantial holder notice● Neutral
SandRidge Energy, Inc, SandRidge Exploration and Production, LLC reported a SandRidge Permian Trust shareholding of 2,875,000 shares (7.30% of votes) in a periodic institutional filing.
15 Mar 2012director interest notice● Neutral
SandRidge Permian Trust 10%+ owner Sandridge Energy INC sold 2,000,000 shares at $23.25.
19 Aug 2011substantial holder notice● Neutral
SandRidge Energy, Inc, SandRidge Exploration and Production, LLC disclosed a new substantial SandRidge Permian Trust shareholding (12.40% of votes).
19 Aug 2011capital raising announcement● NeutralMajor
The Trust closed its IPO of 34,500,000 common units on August 16, 2011 and received perpetual royalty interests in oil and gas properties in Andrews County, Texas from SandRidge's subsidiary. In exchange, SandRidge's subsidiaries received 4,875,000 common units, 13,125,000 subordinated units and about $584 million of net IPO proceeds. SandRidge also agreed to a drilling obligation secured by a lien, a hedging arrangement through March 31, 2015, a $300,000 per year administrative services fee, and registration rights.
17 Aug 2011director interest notice● Neutral
SandRidge Permian Trust 10%+ owner Sandridge Energy INC bought 18,000,000 shares on the open market.
12 Aug 2011securities registration● Neutral
SandRidge Permian Trust filed the final prospectus for a registered offering.
12 Aug 2011material agreement● NeutralMajor
The Trust and SandRidge Energy signed an underwriting agreement with Morgan Stanley, Raymond James, RBC Capital Markets and Wells Fargo for the sale of 30,000,000 common units at $18.00 each. The underwriters also have a 30-day option to buy 4,500,000 more units; this is the pricing step of the offering registered earlier in 2011.
10 Aug 2011director interest notice● Neutral
Sandridge Energy INC became a SandRidge Permian Trust 10%+ owner and company insider (initial ownership filing).
9 Aug 2011listing compliance notice▲ GoodMajor
the New York Stock Exchange certified SandRidge Permian Trust's securities for listing, clearing them to begin trading.
2 Aug 2011securities registration● Neutral
SandRidge Permian Trust amended a filing by which it registered a securities offering with the SEC.
29 July 2011securities registration● Neutral
SandRidge Permian Trust amended a filing by which it registered a securities offering with the SEC.
19 July 2011securities registration● Neutral
SandRidge Permian Trust amended a filing by which it registered a securities offering with the SEC.
29 June 2011securities registration● Neutral
SandRidge Permian Trust amended a filing by which it registered a securities offering with the SEC.