31 Oct 2011quarterly activities report● Neutral
UNION DRILLING INC reported quarterly revenue of $66.7 million and net income of $617 thousand for the period ended 2011-09-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
31 Oct 2011quarterly activities report● Neutral
UNION DRILLING INC reported quarterly revenue of $66.7 million and net income of $617 thousand for the period ended 2011-09-30.
4 Aug 2011debt financing▲ Good
On August 1, 2011 CIT Bank joined Union's April 2011 credit agreement as a $35 million lender, reducing PNC's commitment from $60 million to $50 million. Total available commitment is now the full $150 million maximum, using the increase option set out in April.
4 Aug 2011quarterly activities report▼ Bad
UNION DRILLING INC reported quarterly revenue of $59.9 million and a net loss of $3.4 million for the period ended 2011-06-30.
3 Aug 2011quarterly activities report▼ Bad
UNION DRILLING INC reported quarterly revenue of $59.9 million and a net loss of $3.4 million for the period ended 2011-06-30.
6 July 2011material agreement▲ GoodMajor
On July 5, 2011 Union agreed to buy two IDE-1500 Sparta Series AC electric rigs and related equipment from Integrated Drilling Equipment Company Holdings for about $35 million, with deliveries in January and February 2012. The 8-K says they are for an existing customer's program in the Arkoma Basin, while the press release says Arkansas' Fayetteville Shale and cites executed three-year contracts; the filings differ on the location description. The CEO said this is the kind of investment the expanded credit facility was meant for.
5 May 2011quarterly activities report▼ Bad
UNION DRILLING INC reported quarterly revenue of $56.0 million and a net loss of $4.6 million for the period ended 2011-03-31.
4 May 2011quarterly activities report▼ Bad
UNION DRILLING INC reported quarterly revenue of $56.0 million and a net loss of $4.6 million for the period ended 2011-03-31.
28 Apr 2011debt financing▲ GoodMajor
On April 27, 2011 Union replaced its PNC-led credit agreement with an Amended and Restated agreement running to April 27, 2016, with a $125 million commitment (up to $150 million if increased). It is secured by a first-priority lien on the company's assets and carries lower stated starting margins than the 2008 amendment (0.75% over prime, 2.50% over LIBOR). This replaces the facility that was due to expire March 30, 2012 under the seventh amendment.
10 Feb 2011substantial holder notice● Neutral
T. ROWE PRICE ASSOCIATES, INC, T. ROWE PRICE SMALL-CAP VALUE FUND, INC reported a UNION DRILLING INC shareholding of 2,190,569 shares (9.40% of votes) in a periodic institutional filing.
31 Jan 2011substantial holder notice● Neutral
Royce & Associates, LLC reported a UNION DRILLING INC shareholding of 1,485,319 shares (5.90% of votes) in a periodic institutional filing.
3 Nov 2010quarterly activities report▼ Bad
UNION DRILLING INC reported quarterly revenue of $52.0 million and a net loss of $4.4 million for the period ended 2010-09-30.
2 Nov 2010quarterly activities report▼ Bad
UNION DRILLING INC reported quarterly revenue of $52.0 million and a net loss of $4.4 million for the period ended 2010-09-30.
5 Aug 2010quarterly activities report▼ Bad
UNION DRILLING INC reported quarterly revenue of $43.7 million and a net loss of $5.3 million for the period ended 2010-06-30.
5 Aug 2010quarterly activities report▼ Bad
UNION DRILLING INC reported quarterly revenue of $43.7 million and a net loss of $5.3 million for the period ended 2010-06-30.
12 Feb 2010substantial holder notice● Neutral
T. ROWE PRICE ASSOCIATES, INC reported a UNION DRILLING INC shareholding of 1,854,719 shares (8.00% of votes) in a periodic institutional filing.
22 Dec 2009securities registration● Neutral
UNION DRILLING INC filed the final prospectus for a registered offering.
11 Dec 2009securities registration● Neutral
UNION DRILLING INC amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
7 Dec 2009director interest notice● Neutral
UNION DRILLING INC director Ronald Harrell received a stock option grant for 11,868 shares.
1 Oct 2009director interest notice● Neutral
UNION DRILLING INC insider A J Verdecchia disposed of 119,355 shares via option/appreciation-right settlement.
18 Sept 2009securities registration● Neutral
UNION DRILLING INC registered a securities offering with the SEC using its shelf eligibility.
5 June 2009material agreement● NeutralMajor
On June 4, 2009 Union agreed with Jefferies & Company to sell 3,000,000 new shares to the public at $8.25 per share (plus up to 450,000 more if the over-allotment option is used), expected to close June 10, 2009. The press release says proceeds will repay borrowings under its revolving credit facility. This uses the shelf registration filed in 2008 and adds shares, which dilutes existing holders.
5 June 2009securities registration● Neutral
UNION DRILLING INC filed a prospectus supplement for an offering off its existing shelf.
3 June 2009securities registration● Neutral
UNION DRILLING INC filed the final prospectus for a registered offering.
11 Mar 2009director interest notice● Neutral
UNION DRILLING INC President and CEO Christopher D Strong exercised stock options for 98,722 shares and disposed of 98,722 shares.
12 Feb 2009substantial holder notice● Neutral
T. ROWE PRICE ASSOCIATES, INC reported a UNION DRILLING INC shareholding of 1,656,119 shares (7.50% of votes) in a periodic institutional filing.
3 Feb 2009substantial holder notice● Neutral
BARCLAYS GLOBAL INVESTORS, NA. and 1 other reported a UNION DRILLING INC shareholding of 458,942 shares (2.08% of votes) in a periodic institutional filing.
12 Jan 2009substantial holder notice● Neutral
Wellington Management Company, LLP reported a UNION DRILLING INC shareholding of 239,274 shares (1.09% of votes) in a periodic institutional filing.
5 Dec 2008director interest notice● Neutral
UNION DRILLING INC director M Joseph Mchugh received a stock option grant for 12,708 shares.
5 Dec 2008director interest notice● Neutral
UNION DRILLING INC VP, Gen Counsel & Corp Sec David S Goldberg received a stock option grant for 13,980 shares.