1 Aug 2018quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $147.1 million and net income of $49.6 million for the period ended 2018-06-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Aug 2018quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $147.1 million and net income of $49.6 million for the period ended 2018-06-30.
31 July 2018securities registration● Neutral
SRC Energy Inc. filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
23 July 2018quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $147.1 million and net income of $49.6 million for the period ended 2018-06-30.
5 June 2018securities registration● Neutral
SRC Energy Inc. filed the final prospectus for a registered offering.
23 May 2018business combination● Neutral
On May 23, 2018 SRC filed a registration statement offering to swap up to $550 million of its privately placed 6.250% senior notes due 2025 for registered notes with the same terms. This fulfils the registration rights promised when the notes were issued in November 2017. It is a debt housekeeping step and changes nothing for shareholders.
2 May 2018quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $147.2 million and net income of $65.8 million for the period ended 2018-03-31.
2 May 2018quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $147.2 million and net income of $65.8 million for the period ended 2018-03-31.
23 Apr 2018quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $147.2 million and net income of $65.8 million for the period ended 2018-03-31.
3 Apr 2018material agreement▲ GoodMajor
On April 2, 2018 SRC replaced its credit agreement with a second amended and restated one with SunTrust Bank as administrative agent. It has a $1.5 billion maximum, a $550 million borrowing base and a $450 million elected commitment (the amount SRC can currently borrow, less amounts outstanding). Maturity moves from December 2019 to April 2023, interest rates are somewhat lower, and a $25 million swingline facility is added.
21 Feb 2018quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $140.1 million and net income of $50.8 million for the period ended 2017-12-31.
13 Feb 2018substantial holder notice● Neutral
AllianceBernstein L.P reported a SRC Energy Inc. shareholding of 10,043,208 shares (4.20% of votes) in a periodic institutional filing.
9 Feb 2018substantial holder notice● Neutral
The Vanguard Group disclosed a new substantial SRC Energy Inc. shareholding (7.15% of votes).
8 Feb 2018substantial holder notice● Neutral
Victory Capital Management Inc reported no remaining SRC Energy Inc. shareholding in its periodic institutional filing.
6 Feb 2018substantial holder notice● Neutral
SailingStone Capital Partners LLC, SailingStone Holdings LLC, MacKenzie B. Davis, Kenneth L. Settles Jr reported a SRC Energy Inc. shareholding of 29,460,468 shares (12.20% of votes) in a periodic institutional filing.
31 Jan 2018quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $140.1 million and net income of $50.8 million for the period ended 2017-12-31.
30 Jan 2018director interest notice● Neutral
SRC Energy Inc. director Jennifer S Zucker received 3,937 shares as part of the equity award.
30 Jan 2018director interest notice● Neutral
Jennifer S Zucker became a SRC Energy Inc. director and company insider (initial ownership filing).
19 Jan 2018substantial holder notice● Neutral
BlackRock, Inc disclosed a new substantial SRC Energy Inc. shareholding (13.00% of votes).
4 Jan 2018director interest notice● Neutral
SRC Energy Inc. director Raymond E Mcelhaney received 5,715 shares as part of the equity award.
4 Jan 2018director interest notice● Neutral
SRC Energy Inc. director Jack N Aydin received 8,438 shares as part of the equity award.
4 Jan 2018director interest notice● Neutral
SRC Energy Inc. director Paul Korus received 5,715 shares as part of the equity award.
4 Jan 2018director interest notice● Neutral
SRC Energy Inc. director Daniel E Kelly received 5,715 shares as part of the equity award.
2 Jan 2018director interest notice● Neutral
SRC Energy Inc. Vice President/General Counsel Cathleen M Osborn had 627 shares withheld for taxes on vesting stock.
2 Jan 2018director interest notice● Neutral
SRC Energy Inc. EVP & Chief Financial Officer James P Henderson had 3,105 shares withheld for taxes on vesting stock.
2 Jan 2018director interest notice● Neutral
SRC Energy Inc. President, CEO Lynn A Peterson had 11,361 shares withheld for taxes on vesting stock.
20 Dec 2017asset acquisition disposition▲ GoodMajor
On December 15, 2017 SRC closed the undeveloped and non-operated producing part of the GCII Acquisition from Noble Energy for $568 million cash, before customary adjustments, effective November 1, 2017. A second closing for operated producing properties may happen later if regulatory conditions are met. On December 20 it also repurchased its 9.0% senior notes due 2021 for $88.3 million including the make-whole amount and accrued interest, ending the $80M notes issued in 2016. This completes the deal announced in November.
29 Nov 2017security holder rights change● NeutralMajor
On November 29, 2017 SRC closed the $550 million 6.250% senior notes due December 2025, issued under an indenture with U.S. Bank. The indenture restricts additional debt, liens, dividends, mergers and affiliate deals, and SRC agreed to offer registered notes in exchange. Per the press release, proceeds are meant to help pay for the Noble Weld County acquisition and to redeem or repurchase the 9% notes due 2021. The notes must be redeemed at par if the acquisition is not completed by January 10, 2018 (or a later extended closing, no later than March 15, 2018).
20 Nov 2017debt financing● NeutralMajor
On November 14, 2017 SRC agreed to sell $550 million of 6.250% senior notes due 2025 to initial purchasers (J.P. Morgan and Credit Suisse lead) in a private offering, with closing expected November 29. Interest is paid each June 1 and December 1 starting June 1, 2018, and the notes mature December 1, 2025. This is the notes offering announced on November 8; the filing says proceeds may repay amounts on the credit line.
13 Nov 2017material agreement● NeutralMajor
On November 9, 2017 SRC sold 35,000,000 new shares to underwriters (Credit Suisse and J.P. Morgan lead) at $7.76 per share; the underwriters exercised their option for 5,250,000 more on November 10, making 40,250,000 shares, and the offering closed November 13. This is the share offering set up by the November 8 prospectus supplements. The filing says some proceeds may repay the credit line and may be used to redeem the existing senior notes, so shareholders now own a smaller slice of the company.