2 July 2020capital raising announcement▲ Good
Viking paid off lender Radium2 Capital in full ($5,577,285) with $4,000,000 cash plus about 12.9 million shares, clearing one of its higher-cost obligations.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
2 July 2020securities registration● Neutral
VIKING ENERGY GROUP, INC. filed notice of an exempt private placement.
30 June 2020business combination● NeutralMajor
Viking and Camber signed a Third Amendment to their Merger Agreement, and Camber extended a second secured note to Viking, this one for $4,200,000 -- Camber's financial stake in Viking deepening even as the merger itself kept slipping.
16 June 2020business combination● Neutral
Viking and Camber signed a Second Amendment to their Merger Agreement, continuing to renegotiate deal terms through the volatile oil-price environment.
4 June 2020capital raising announcement▼ Bad
With oil prices depressed by COVID-19, Ichor Energy's lenders relaxed its Asset Coverage Ratio covenant for three quarters and raised the loan's interest rate in exchange -- covenant relief that came at a higher borrowing cost.
1 June 2020business combination● Neutral
Viking and Camber signed a First Amendment to their Merger Agreement, the first of several amendments that would stretch the deal's timeline through 2023.
15 May 2020quarterly activities report▼ Bad
VIKING ENERGY GROUP, INC. reported a quarterly net loss of $17.7 million for the period ended 2020-06-30.
2 Apr 2020business combination● Neutral
Amid the COVID-19 oil price crash, Viking and Camber jointly reaffirmed their commitment to proceed with the merger announced in February.
18 Feb 2020securities registration● Neutral
VIKING ENERGY GROUP, INC. filed notice of an exempt private placement.
6 Feb 2020asset acquisition disposition▲ GoodMajor
Viking closed the $40 million Elysium acquisition, financing it with a $36.5 million term loan from 405 Woodbine LLC -- completing the second Gulf Coast platform alongside Ichor just as COVID-driven oil price volatility began.
5 Feb 2020securities registration● Neutral
VIKING ENERGY GROUP, INC. filed notice of an exempt private placement.
5 Feb 2020business combination● NeutralMajor
Viking and Camber Energy, Inc. signed a Merger Agreement -- the opening move in what became a three-year, multiply-restructured courtship -- and Camber simultaneously became a lender to Viking via a $5,000,000 secured note, well before any merger closed.
30 Dec 2019material agreement● Neutral
Viking and the Elysium sellers extended the Elysium acquisition's closing deadline to February 2020 and adjusted deposit terms, while the filing also notes Viking still carries a $23.7 million note from the 2018 Ichor purchase secured against Ichor's membership interests -- both Gulf Coast platforms remained highly leveraged heading into 2020.
12 Nov 2019quarterly activities report● Neutral
VIKING ENERGY GROUP, INC. reported a quarterly net income of $1.4 million for the period ended 2019-09-30.
4 Nov 2019capital raising announcement▼ Bad
Viking cut the exercise price on warrants tied to its 2018 note financing from $0.20 to $0.10, triggering exercises that converted $1.86 million of outstanding debt into stock -- a dilutive but debt-reducing move.
11 Oct 2019material agreement▲ GoodMajor
Viking's new subsidiary Elysium Energy, LLC agreed to buy a second Texas/Louisiana oil and gas platform for $40,000,000 from nine affiliated sellers -- a second, larger Gulf Coast acquisition alongside the existing Ichor assets.
12 Aug 2019quarterly activities report● Neutral
VIKING ENERGY GROUP, INC. reported quarterly revenue of $8.7 million and net income of $1.4 million for the period ended 2019-06-30.
31 July 2019debt financing● Neutral
Viking's Kansas subsidiaries refinanced $3,351,099 through Cornerstone Bank, moving the Kansas assets off the CrossFirst credit line entirely -- separating the Kansas collateral from the more heavily indebted Petrodome/Ichor Gulf Coast assets.
14 May 2019quarterly activities report▼ Bad
VIKING ENERGY GROUP, INC. reported quarterly revenue of $8.7 million and a net loss of $11.9 million for the period ended 2019-06-30.
4 Jan 2019securities registration● Neutral
VIKING ENERGY GROUP, INC. filed notice of an exempt private placement.
31 Dec 2018asset acquisition disposition▲ GoodMajor
Viking closed the roughly $86 million Ichor acquisition (Texas and Louisiana producing properties, appraised at a $91 million PV18) through new subsidiaries Ichor Energy (LA) and Ichor Energy (TX), financed by a $63.6 million term loan from ABC Funding, LLC at 10-12% interest -- by far Viking's largest and most leveraged deal to date.
10 Dec 2018securities registration● Neutral
VIKING ENERGY GROUP, INC. amended a filing by which it filed notice of an exempt private placement.
14 Nov 2018quarterly activities report▼ Bad
VIKING ENERGY GROUP, INC. reported a quarterly net loss of $2.9 million for the period ended 2018-09-30.
2 Nov 2018material agreement● Neutral
Viking and the Texas/Louisiana sellers extended the closing deadline and added escrow terms for assets still awaiting state regulatory consent to transfer -- routine progress toward closing the Ichor acquisition.
5 Sept 2018material agreement▲ GoodMajor
Viking agreed to buy a large basket of Texas and Louisiana oil and gas leases from eight affiliated Texas entities (Bodel Holdings and others) -- the deal that became the 'Ichor' asset platform.
14 Aug 2018quarterly activities report▼ Bad
VIKING ENERGY GROUP, INC. reported quarterly revenue of $2.3 million and a net loss of $2.9 million for the period ended 2018-06-30.
11 July 2018substantial holder notice● Neutral
Coal Creek Energy, LLC reported a VIKING ENERGY GROUP, INC. shareholding of 4.44% of votes in a periodic institutional filing.
15 June 2018debt financing▲ GoodMajor
Viking consolidated its financing, replacing separate facilities with a single $30 million CrossFirst Bank revolving credit line ($12.4 million drawn initially) spanning Petrodome and all three Mid-Con subsidiaries.
11 June 2018securities registration● Neutral
VIKING ENERGY GROUP, INC. filed notice of an exempt private placement.
21 May 2018quarterly activities report▼ Bad
VIKING ENERGY GROUP, INC. reported quarterly revenue of $2.3 million and a net loss of $4.0 million for the period ended 2018-06-30.