10 Apr 2013quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $10.9 million and net income of $2.7 million for the period ended 2013-02-28.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
9 Apr 2013quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $10.9 million and net income of $2.7 million for the period ended 2013-02-28.
5 Apr 2013securities registration● Neutral
SRC Energy Inc. amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
22 Mar 2013securities registration● Neutral
SRC Energy Inc. amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
19 Mar 2013asset acquisition disposition▲ GoodMajor
The Vecta exploration agreement closed March 13, 2013. Synergy paid a leasehold reimbursement fee of $2,928,502 cash (up from $2,841,855 first stated) plus 100,000 restricted shares valued at about $660,000 (up from about $640,000). The partners plan seismic work and a horizontal Greenhorn or Niobrara test well, with the first Greenhorn well contemplated by October 31, 2013. This resolves the March 1 pending agreement.
19 Mar 2013asset acquisition disposition● Neutral
This filing, labeled as an acquisition-completion report, actually contains the same text as the March 7, 2013 Vecta agreement report (35%/65% interests, $2,841,855 cash plus 100,000 shares, initial Greenhorn well by October 31, 2013) and appears to be a duplicate. It adds no new facts; closing is reported in the separate filing of the same date.
7 Mar 2013material agreement▲ GoodMajor
On March 1, 2013 Synergy signed an exploration agreement with Vecta Oil and Gas, Ltd. covering Greenhorn-area and Wattenberg-extension leases in Morgan and Weld Counties. Synergy would hold 35% of about 101,675 gross (45,661 net) acres and 65% of about 3,718 gross (2,983 net) acres, paying $2,841,855 cash plus 100,000 restricted shares (about $640,000). An initial Greenhorn test well is contemplated by October 31, 2013, with Synergy as operator. Closing is subject to title review. This builds on the Greenhorn focus stated with the March 2012 DeClar/Wolf Point leases.
19 Feb 2013securities registration● Neutral
SRC Energy Inc. registered a securities offering with the SEC using its shelf eligibility.
14 Feb 2013substantial holder notice● Neutral
Wellington Management Company, LLP reported a SRC Energy Inc. shareholding of 679,700 shares (1.24% of votes) in a periodic institutional filing.
29 Jan 2013director interest notice● Neutral
SRC Energy Inc. director George L Seward bought 50,000 shares on the open market at $5.86.
17 Jan 2013director interest notice● Neutral
SRC Energy Inc. director Rick Wilber bought 50,000 shares on the open market at $5.86.
17 Jan 2013director interest notice● Neutral
SRC Energy Inc. director George L Seward bought 15,000 shares on the open market.
9 Jan 2013quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $8.3 million and net income of $2.2 million for the period ended 2012-11-30.
4 Jan 2013director interest notice● Neutral
SRC Energy Inc. director Rick Wilber gifted 50,000 shares.
21 Dec 2012director interest notice● Neutral
SRC Energy Inc. director George L Seward bought 5,000 shares on the open market at $5.14.
19 Dec 2012director interest notice● Neutral
SRC Energy Inc. director George L Seward bought 20,000 shares on the open market at $4.75.
13 Dec 2012director interest notice● Neutral
SRC Energy Inc. director George L Seward bought 170,000 shares on the open market.
12 Dec 2012director interest notice● Neutral
SRC Energy Inc. director George L Seward bought 32,329 shares on the open market.
7 Dec 2012asset acquisition disposition▲ GoodMajor
On December 5, 2012 Synergy completed the Orr Energy purchase agreed in October: 36 producing Wattenberg wells and about 3,933 gross (3,196 net) acres, for $30,000,000 cash plus 3,128,422 restricted shares (valued at $12,000,000). About 1,000 undeveloped acres lie northeast of Wattenberg. This resolves the October pending deal and adds dilution from the new shares.
3 Dec 2012debt financing▲ GoodMajor
On November 28, 2012 Synergy restated its credit line as a multi-bank facility, adding CoBiz Bank (Colorado Business Bank) and Amegy Bank alongside Community Banks of Colorado as agent. The initial borrowing base is $47,000,000 (up from the $30M limit), within a $150,000,000 maximum commitment, due November 28, 2016, secured by substantially all producing wells and developed leases. Interest is prime plus 0-1% or LIBO plus 2-3.25%. This replaces the earlier November 2014 maturity and greatly increases borrowing capacity.
25 Oct 2012material agreement● Neutral
This amended filing repeats the October 2012 report (credit line raised from $20M to $30M; agreement to buy Orr Energy's 36 wells and about 3,933 gross acres for $42M in cash and shares) with the two exhibits now attached: the loan amendment and the purchase agreement. No new terms are stated.
24 Oct 2012material agreement▲ GoodMajor
On October 18, 2012 the credit line (now with Community Banks of Colorado, successor to Bank of Choice) was raised from $20,000,000 to $30,000,000, with about $3,000,000 borrowed. On October 23 Synergy agreed to buy from Orr Energy, LLC 36 producing Wattenberg wells and about 3,933 gross (3,196 net) acres for $42,000,000: $30,000,000 cash plus $12,000,000 in restricted shares. Closing depends on title review and customary conditions. This is the company's largest purchase in this record and would add dilution.
25 Sept 2012director interest notice● Neutral
SRC Energy Inc. director George L Seward bought 31,454 shares on the open market at $3.33.
10 Aug 2012director interest notice● Neutral
SRC Energy Inc. director Rick Wilber bought 20,000 shares on the open market.
6 Aug 2012director interest notice● Neutral
SRC Energy Inc. director George L Seward bought 10,000 shares on the open market at $2.77.
26 July 2012director interest notice● Neutral
SRC Energy Inc. director George L Seward bought 20,000 shares on the open market.
12 July 2012quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $7.5 million and net income of $2.4 million for the period ended 2012-05-31.
9 July 2012quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $7.5 million and net income of $2.4 million for the period ended 2012-05-31.
9 July 2012quarterly activities report● Neutral
SRC Energy Inc. reported quarterly revenue of $7.5 million and net income of $2.4 million for the period ended 2012-05-31.
21 June 2012director interest notice● Neutral
SRC Energy Inc. director Rick Wilber bought 20,000 shares on the open market.