9 Apr 2015quarterly activities report▼ Bad
SRC Energy Inc. reported quarterly revenue of $18.9 million and a net loss of $993 thousand for the period ended 2015-03-31.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
20 Feb 2015substantial holder notice● Neutral
Citadel Advisors LLC, Citadel Advisors Holdings III LP, Citadel GP LLC, Kenneth Griffin disclosed a new substantial SRC Energy Inc. shareholding (5.00% of votes).
2 Feb 2015substantial holder notice● Neutral
BlackRock, Inc disclosed a new substantial SRC Energy Inc. shareholding (6.30% of votes).
28 Jan 2015securities registration● Neutral
SRC Energy Inc. filed a free-writing prospectus - marketing material for an offering in progress.
28 Jan 2015securities registration● Neutral
SRC Energy Inc. filed a prospectus supplement for an offering off its existing shelf.
28 Jan 2015material agreement● NeutralMajor
On January 27, 2015 the company agreed with Seaport Global Securities to sell 16,186,046 new shares at $10.75, expecting about $165.8 million net (about $190.7 million if the extra-share option is fully used). The money is for further Wattenberg acquisitions, paying down the credit facility and general purposes. The borrowing base will drop to $200 million from $230 million as a result of the offering, with a redetermination as of February 28, 2015. Existing shareholders are diluted by the new shares.
28 Jan 2015securities registration● Neutral
SRC Energy Inc. registered additional securities for an offering already underway.
27 Jan 2015securities registration● Neutral
SRC Energy Inc. filed a prospectus supplement for an offering off its existing shelf.
27 Jan 2015securities registration● Neutral
SRC Energy Inc. filed a free-writing prospectus - marketing material for an offering in progress.
9 Jan 2015quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $42.5 million and net income of $21.2 million for the period ended 2014-11-30.
23 Dec 2014securities registration● Neutral
SRC Energy Inc. filed the final prospectus for a registered offering.
18 Dec 2014asset acquisition disposition▲ GoodMajor
On December 15, 2014 the company closed its purchase of Wattenberg oil and gas properties from three independent companies for $125 million: about $75 million cash plus 4,648,136 restricted shares valued at $50 million. It also amended its credit line, lifting the borrowing base from $110 million (June 2014) to $230 million, with a $500 million maximum commitment, maturity moved to December 15, 2019, and the lender group now an eight-bank syndicate led by SunTrust and KeyBank. About $66.2 million was drawn on the line for the purchase. The properties include working interests in 17 horizontal wells, 84 vertical wells and acreage the company estimates could support 150 horizontal wells.
10 Dec 2014securities registration● Neutral
SRC Energy Inc. filed the final prospectus for a registered offering.
18 Nov 2014securities registration● Neutral
SRC Energy Inc. filed the final prospectus for a registered offering.
10 Oct 2014securities registration● Neutral
SRC Energy Inc. filed the final prospectus for a registered offering.
5 Sept 2014securities registration● Neutral
SRC Energy Inc. filed the final prospectus for a registered offering.
18 Aug 2014securities registration● Neutral
SRC Energy Inc. filed the final prospectus for a registered offering.
7 Aug 2014business combination● Neutral
On August 1, 2014 Co-CEOs Ed Holloway and William Scaff and CFO Frank Jennings adopted pre-arranged stock sale plans, effective September 2, 2014 and running to February 27, 2015: up to 350,000 shares each for Holloway and Scaff and 50,000 for Jennings. Each says the plan is for diversification and liquidity; each would still hold 2,901,287 (Holloway, Scaff) or 186,618 (Jennings) shares if all are sold. Not a business combination despite the form category. It shows insiders may sell stock, and also shows Holloway and Scaff as Co-CEOs.
11 July 2014material agreement▲ GoodMajor
On July 7, 2014 Synergy signed a turn-key contract with Ensign Drilling Company of North America for a third automated rig to drill at least eight horizontal wells on its Wiedeman lease, estimated at $7,200,000 to $10,000,000, with an option to keep the rig pad by pad. It also extended Ensign Rig #134 through December 31, 2014; Rig #131 stays on its original terms through the end of 2014. This continues the drilling build-up.
10 July 2014quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $25.7 million and net income of $7.2 million for the period ended 2014-05-31.
9 July 2014securities registration● Neutral
SRC Energy Inc. filed the final prospectus for a registered offering.
10 June 2014debt financing▲ GoodMajor
On June 4, 2014 Synergy amended its credit facility again, raising the borrowing base from $90 million to $110 million with the maximum commitment staying at $300 million. Maturity moved from November 2016 to May 29, 2019, and pricing changed to prime +0.5-1.5% or LIBO +1.75-2.75% with a 2.5% minimum rate. The lenders listed are Community Banks of Colorado, CoBiz, Amegy, Suntrust and KeyBank; Texas Capital Bank, named in December 2013, is not listed. The filing does not state the amount drawn.
5 May 2014director interest notice● Neutral
SRC Energy Inc. director Bill M Conrad sold 20,000 shares.
1 May 2014securities registration● Neutral
SRC Energy Inc. filed the final prospectus for a registered offering.
16 Apr 2014director interest notice● Neutral
SRC Energy Inc. Chief Operating Officer Craig Duane Rasmuson sold 10,000 shares.
8 Apr 2014quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $23.0 million and net income of $5.2 million for the period ended 2014-02-28.
7 Apr 2014quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $23.0 million and net income of $5.2 million for the period ended 2014-02-28.
31 Mar 2014capital raising announcement● Neutral
On March 28, 2014 Synergy issued restricted shares for assets: 62,877 to 16 people and 40,435 to director George Seward for oil and gas leases, and 20,626 to two people for a disposal well. This is small further dilution and continues paying for leases in stock, including to Seward.
31 Jan 2014director interest notice● Neutral
Valerie Sue Dunn became a SRC Energy Inc. Secretary and company insider (initial ownership filing).
31 Jan 2014director interest notice● Neutral
Craig Duane Rasmuson became a SRC Energy Inc. Chief Operating Officer and company insider (initial ownership filing).