18 Dec 2006director interest notice● Neutral
UNION DRILLING INC President and CEO Christopher D Strong exercised stock options for 21,400 shares and disposed of 42,800 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
15 Dec 2006director interest notice● Neutral
UNION DRILLING INC VP, CFO, Treasurer & Secretary Dan E Steigerwald exercised stock options for 3,464 shares and disposed of 6,928 shares.
13 Dec 2006director 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.
13 Dec 2006director interest notice● Neutral
UNION DRILLING INC VP, CFO, Treasurer & Secretary Dan E Steigerwald exercised stock options for 50,800 shares and disposed of 25,400 shares.
7 Dec 2006material agreement● Neutral
This amended 8-K repeats the previous day's report of the fifth credit facility amendment (up to $100 million with PNC Bank) but gives the date as December 5, 2006 rather than December 4. The terms are otherwise the same, so it looks like a date correction (inference).
6 Dec 2006material agreement▲ GoodMajor
Union and PNC Bank (as agent for the lenders) signed a fifth amendment to the revolving credit facility, raising the maximum revolving line of credit to $100 million. It also redefines some terms, adds conditions on yearly capital spending and changes lender assignment provisions.
13 Nov 2006director 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.
10 Oct 2006director interest notice● Neutral
UNION DRILLING INC director Ronald Harrell received a stock option grant for 7,500 shares.
28 Sept 2006material agreement● Neutral
Union and its lenders, led by PNC Bank, made a fourth amendment to the revolving credit facility from March 2005. It lets 60% of the cost of rig equipment bought between appraisals count toward the collateral base and raises the permitted 2006 net capital spending from $10 million (plus 2005 carryover) to $125 million.
6 Sept 2006director 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.
1 Sept 2006director interest notice● Neutral
UNION DRILLING INC VP, CFO, Treasurer & Secretary Dan E Steigerwald exercised stock options for 15,000 shares and disposed of 30,000 shares.
21 Aug 2006director interest notice● Neutral
Ronald Harrell became a UNION DRILLING INC director and company insider (initial ownership filing).
4 Aug 2006director interest notice● Neutral
UNION DRILLING INC VP, CFO, Treasurer & Secretary Dan E Steigerwald exercised stock options for 18,000 shares and disposed of 36,000 shares.
5 June 2006director interest notice● Neutral
UNION DRILLING INC Executive Vice President J Michael Poole exercised stock options for 148,083 shares and disposed of 296,166 shares.
2 May 2006material agreement▲ GoodMajor
Union exercised its option from the December 2005 agreement and agreed to buy three 1,500 horsepower SRC IDEAL rigs from National Oilwell Varco, L.P. for $25.2 million, with the earlier $1 million option payment applied to the price. Delivery is scheduled for October, November and December 2006.
11 Apr 2006director interest notice● Neutral
T J Glauthier became a UNION DRILLING INC director and company insider (initial ownership filing).
24 Feb 2006director interest notice● Neutral
M Joseph Mchugh became a UNION DRILLING INC director and company insider (initial ownership filing).
14 Feb 2006substantial holder notice● Neutral
Wolf Marine S.A. disclosed a new substantial UNION DRILLING INC shareholding (9.80% of votes).
14 Feb 2006substantial holder notice● Neutral
Wellington Management Company, LLP disclosed a new substantial UNION DRILLING INC shareholding (7.84% of votes).
13 Feb 2006substantial holder notice● Neutral
T. ROWE PRICE ASSOCIATES, INC disclosed a new substantial UNION DRILLING INC shareholding (7.30% of votes).
10 Feb 2006substantial holder notice● Neutral
Wellington Management Company, LLP reported a UNION DRILLING INC shareholding of 2,121,500 shares (10.02% of votes) in a periodic institutional filing.
3 Feb 2006material agreement▲ Good
Union's subsidiary Thornton Drilling Company took over Maverick Oil and Gas's agreement to buy one Wilson 75 drilling rig from Permian Drilling Corporation, and completed the purchase on January 30, 2006. Maverick pays Thornton the amount by which the rig's purchase price exceeds $3,646,500, and the two agreed to a two-year drilling services contract for the rig.
10 Jan 2006director interest notice● Neutral
Thomas M Mercer Jr. became a UNION DRILLING INC director and company insider (initial ownership filing).
13 Dec 2005material agreement▲ GoodMajor
Union Drilling agreed to buy three Ideal Rigs from National-Oilwell, L.P. for $24 million in total, with delivery scheduled for March, May and June 2006. It also paid $1 million for an option, exercisable by April 30, 2006, to buy three more for $25.2 million (delivery Sept-Nov 2006 if exercised); the $1 million counts toward that price.
12 Dec 2005director interest notice● Neutral
UNION DRILLING INC director Thomas H Oneill Jr. sold 1,323,530 shares at $13.05.
12 Dec 2005director interest notice● Neutral
UNION DRILLING INC director Gregory D Myers sold 1,323,530 shares at $13.05.
12 Dec 2005director interest notice● Neutral
UNION DRILLING INC director William R Ziegler sold 1,323,530 shares at $13.05.
12 Dec 2005director interest notice● Neutral
UNION DRILLING INC 10%+ owner Union Drilling CO LLC sold 1,323,530 shares at $13.05.
12 Dec 2005director interest notice● Neutral
UNION DRILLING INC director John J Moon sold 1,323,530 shares at $13.05.
28 Nov 2005director interest notice● Neutral
UNION DRILLING INC Executive Vice President J Michael Poole received a stock option grant for 105,303 shares.