5 Dec 2008director interest notice● Neutral
UNION DRILLING INC director Ronald Harrell received a stock option grant for 12,708 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 Dec 2008director interest notice● Neutral
UNION DRILLING INC President and CEO Christopher D Strong received a stock option grant for 40,667 shares.
5 Dec 2008director interest notice● Neutral
UNION DRILLING INC director Robert M Wohleber received a stock option grant for 12,708 shares.
5 Dec 2008director interest notice● Neutral
UNION DRILLING INC VP, CFO & Treasurer A J Verdecchia received a stock option grant for 10,167 shares.
10 Oct 2008debt financing▲ Good
On October 9, 2008, M&T Bank ($10 million) and TD Bank, N.A. ($20 million) joined Union's credit facility as lenders, lifting the total commitment to $97.5 million. This completes the lender additions allowed under the seventh amendment reported on October 6, 2008, bringing the line close to its $100 million maximum.
8 Oct 2008director interest notice● Neutral
UNION DRILLING INC director Robert M Wohleber received a stock option grant for 1,875 shares.
6 Oct 2008debt financing● NeutralMajor
On September 30, 2008 Union signed a seventh amendment to its PNC Bank-led credit agreement, extending it to March 30, 2012 with a $67.5 million commitment (up to $100 million if more lenders join). The Amendment also sets new interest margins and unused-line fees, and removes The CIT Group/Business Credit and National City Business Credit as lenders. This follows the sixth amendment of July 2008; the commitment now stated is lower than the previous $100 million maximum line unless more lenders join.
31 July 2008material agreement● NeutralMajor
Union signed a sixth amendment to its PNC Bank revolving credit agreement that permits, subject to conditions, share repurchases and cash dividends, removes the annual capital spending cap after June 30, 2008, and revises the fixed charge coverage ratio. Second-quarter 2008 results: revenue $75.4 million (up 2%), net income $3.4 million or $0.15 per share (down from $9.2 million, $0.42), which management attributed to rising costs and competition limiting dayrate increases. It also mentions buying a 1,000 horsepower Barnett Shale rig and ordering two DC electric rigs for the Fayetteville Shale.
9 June 2008securities registration● Neutral
UNION DRILLING INC filed the final prospectus for a registered offering.
19 May 2008securities registration● Neutral
UNION DRILLING INC registered a securities offering with the SEC using its shelf eligibility.
14 Feb 2008substantial holder notice● Neutral
Wellington Management Company, LLP reported a UNION DRILLING INC shareholding of 1,700,794 shares (7.74% of votes) in a periodic institutional filing.
12 Feb 2008substantial holder notice● Neutral
T. ROWE PRICE ASSOCIATES, INC reported a UNION DRILLING INC shareholding of 2,075,900 shares (9.40% of votes) in a periodic institutional filing.
5 Feb 2008substantial holder notice● Neutral
BARCLAYS GLOBAL INVESTORS, NA. and 1 other disclosed a new substantial UNION DRILLING INC shareholding (4.16% of votes).
5 Feb 2008substantial holder notice● Neutral
BARCLAYS GLOBAL INVESTORS, NA. and 1 other disclosed a new substantial UNION DRILLING INC shareholding (4.16% of votes).
5 Feb 2008substantial holder notice● Neutral
BARCLAYS GLOBAL INVESTORS, NA. and 1 other disclosed a new substantial UNION DRILLING INC shareholding (4.16% of votes).
5 Feb 2008substantial holder notice● Neutral
BARCLAYS GLOBAL INVESTORS, NA. and 1 other disclosed a new substantial UNION DRILLING INC shareholding (4.16% of votes).
5 Feb 2008substantial holder notice● Neutral
BARCLAYS GLOBAL INVESTORS, NA. and 1 other disclosed a new substantial UNION DRILLING INC shareholding (4.16% of votes).
5 Feb 2008substantial holder notice● Neutral
BARCLAYS GLOBAL INVESTORS, NA. and 1 other disclosed a new substantial UNION DRILLING INC shareholding (4.16% of votes).
8 Jan 2008material agreement▲ GoodMajor
Union agreed on January 4, 2008 to buy a 1,600 horsepower AC Quicksilver drilling rig and related equipment from IDM Equipment, LLC for about $17 million, with delivery by May 31, 2008. It intends to use it for an existing customer's drilling program in the Appalachian Basin; the press release adds a customer commitment to a three-year contract, targeting the Marcellus Shale in Pennsylvania. The company owns 71 rigs.
30 Nov 2007farm in farm out agreement● Neutral
Union's board approved minor changes to its 2000 and 2005 stock option plans on November 27, 2007, some to comply with or fall outside Internal Revenue Code section 409A, plus a changed Fair Market Value definition and housekeeping edits. The filing does not state any change in the number of options or shares available.
26 June 2007director interest notice● Neutral
UNION DRILLING INC President and CEO Christopher D Strong exercised stock options for 45,363 shares and disposed of 90,726 shares.
6 June 2007director interest notice● Neutral
UNION DRILLING INC President and CEO Christopher D Strong exercised stock options for 40,000 shares and disposed of 80,000 shares.
2 May 2007director interest notice● Neutral
UNION DRILLING INC Vice President Dan E Steigerwald exercised stock options for 33,000 shares and disposed of 66,000 shares.
27 Apr 2007director interest notice● Neutral
UNION DRILLING INC President and CEO Christopher D Strong exercised stock options for 40,000 shares and disposed of 80,000 shares.
5 Apr 2007director interest notice● Neutral
UNION DRILLING INC President and CEO Christopher D Strong exercised stock options for 20,000 shares and disposed of 40,000 shares.
2 Apr 2007director interest notice● Neutral
A J Verdecchia became a UNION DRILLING INC Chief Financial Officer and company insider (initial ownership filing).
28 Mar 2007director interest notice● Neutral
UNION DRILLING INC President and CEO Christopher D Strong exercised stock options for 6,000 shares and disposed of 12,000 shares.
26 Mar 2007director interest notice● Neutral
UNION DRILLING INC President and CEO Christopher D Strong exercised stock options for 14,000 shares and disposed of 28,000 shares.
14 Feb 2007substantial holder notice● Neutral
Wellington Management Company, LLP reported a UNION DRILLING INC shareholding of 1,932,200 shares (9.03% of votes) in a periodic institutional filing.
14 Feb 2007substantial holder notice● Neutral
T. ROWE PRICE ASSOCIATES, INC reported a UNION DRILLING INC shareholding of 1,981,000 shares (9.20% of votes) in a periodic institutional filing.