29 May 2012director interest notice● Neutral
SRC Energy Inc. director George L Seward bought 30,000 shares on the open market.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
11 May 2012director interest notice● Neutral
SRC Energy Inc. director George L Seward bought 12,500 shares on the open market at $0.01.
7 May 2012director interest notice● Neutral
SRC Energy Inc. director George L Seward bought 2,359 shares on the open market at $3.20.
25 Apr 2012director interest notice● Neutral
SRC Energy Inc. director George L Seward bought 11,631 shares on the open market.
25 Apr 2012material agreement● Neutral
On April 23, 2012 Synergy raised the maximum on its Bank of Choice revolving credit line from $15,000,000 to $20,000,000, subject to collateral requirements. Other terms (prime-rate interest, November 30, 2014 expiry) were unchanged, and about $5.4 million was borrowed. This continues the November 2011 facility; the filing says proceeds go mainly to repay prior debt and fund acquisition, drilling and completion costs.
20 Apr 2012director interest notice● Neutral
SRC Energy Inc. director George L Seward bought 45,000 shares on the open market.
9 Apr 2012quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $6.2 million and net income of $6.1 million for the period ended 2012-02-29.
16 Mar 2012asset acquisition disposition● Neutral
The DeClar and Wolf Point deal closed March 14, 2012 for $2,200,000 cash and 155,770 shares, more than the 142,436 shares first agreed. The leases cover about 17,000 gross (8,875 net) acres in Weld, Morgan and Larimer Counties, with no producing wells yet, and the company says it will focus on the horizontal Greenhorn zone. The acreage is larger than the roughly 8,740 acres first described, though the filing does not explain the difference.
23 Feb 2012material agreement● Neutral
On February 20, 2012 Synergy agreed to buy leases covering about 8,740 acres in the D-J Basin from DeClar Oil & Gas and Wolf Point Exploration for $2,200,000 cash plus 142,436 restricted shares. There are no producing wells; Synergy would hold 100% working interest and must drill two Niobrara/Codell test wells within two years or about 80 acres revert to DeClar. Closing is expected before March 15, 2012, subject to title review.
14 Feb 2012substantial holder notice● Neutral
Wellington Management Company, LLP disclosed a new substantial SRC Energy Inc. shareholding (8.56% of votes).
10 Jan 2012quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $4.5 million and net income of $1.6 million for the period ended 2011-11-30.
9 Jan 2012quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $4.5 million and net income of $1.6 million for the period ended 2011-11-30.
30 Dec 2011capital raising announcement● Neutral
On December 30, 2011 Synergy issued 188,137 shares to director George Seward for helping acquire leases, 225,146 restricted shares to 16 persons for leases and joint venture interests, and 5,000 shares to an employee for services. It adds a small amount of dilution and continues paying a director in stock for lease work, as in March 2011.
16 Dec 2011securities registration● Neutral
SRC Energy Inc. filed a prospectus supplement for an offering off its existing shelf.
16 Dec 2011material agreement▲ GoodMajor
On December 16, 2011 Synergy agreed with Northland Securities and underwriters to sell 12,727,273 shares in a public offering at $2.75, with a 30-day option for up to 1,909,090 more. Expected net proceeds are about $32,525,000 excluding the option, with closing expected around December 21. Proceeds go to Wattenberg development drilling and general purposes. The stock is now listed on NYSE Amex, and the offering uses an existing shelf registration. This is the company's first underwritten public offering in this record and is dilutive.
15 Dec 2011securities registration● Neutral
SRC Energy Inc. filed a prospectus supplement for an offering off its existing shelf.
2 Dec 2011debt financing▲ GoodMajor
On November 30, 2011 Synergy signed a new Bank of Choice revolving credit line of up to $15,000,000, at the greater of 3.25% or prime, due November 30, 2014 and secured by substantially all producing wells and developed leases. It borrowed about $5,342,000 right away to repay the loan owed to Petroleum Exploration and Management, the note issued in the May 2011 acquisition. This replaces the related-party debt with bank debt and extends borrowing beyond the June 2011 line (the filing does not say whether that line was ended).
19 Oct 2011securities registration● Neutral
SRC Energy Inc. amended a filing by which it registered a securities offering with the SEC.
19 Oct 2011director interest notice● Neutral
SRC Energy Inc. director George L Seward bought 8,500 shares on the open market.
19 Oct 2011securities registration● Neutral
SRC Energy Inc. amended a filing by which it registered a securities offering with the SEC.
19 Oct 2011securities registration● Neutral
SRC Energy Inc. amended a filing by which it registered a securities offering with the SEC.
17 Oct 2011director interest notice● Neutral
SRC Energy Inc. director George L Seward bought 5,750 shares on the open market.
13 Oct 2011director interest notice● Neutral
SRC Energy Inc. director George L Seward bought 16,750 shares on the open market.
30 Sept 2011material agreement● Neutral
On September 29, 2011 the board approved buying lease interests from CEO and director Ed Holloway for $30,700, another small related-party deal. The two Wattenberg leases (about 92 and 213 gross acres, one producing well each) give Synergy 6.95% and 12.30% working interests.
30 Sept 2011securities registration● Neutral
SRC Energy Inc. registered a securities offering with the SEC using its shelf eligibility.
26 Sept 2011securities registration● Neutral
SRC Energy Inc. amended a filing by which it registered a securities offering with the SEC.
13 Sept 2011securities registration● Neutral
SRC Energy Inc. amended a filing by which it registered a securities offering with the SEC.
11 Aug 2011director interest notice● Neutral
George L Seward became a SRC Energy Inc. director and company insider (initial ownership filing).
26 July 2011listing compliance notice▲ GoodMajor
the New York Stock Exchange certified SRC Energy Inc.'s securities for listing, clearing them to begin trading.
14 July 2011quarterly activities report▼ Bad
SRC Energy Inc. reported quarterly revenue of $3.1 million and a net loss of $292 thousand for the period ended 2011-05-31.