12 July 2018director interest notice● Neutral
VNOM Sub, Inc. director Steven E West received 3,063 shares as part of the equity award.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
15 May 2018capital raising announcement● NeutralMajor
On May 9-10, 2018 the company completed its switch from a pass-through to a taxable entity, approved by the board on March 29, 2018. Diamondback swapped its 73,150,000 common units for 73,150,000 Class B units plus the same number of units in the operating company, which are exchangeable back into common units one-for-one. Diamondback exchanged 731,500 of these into common units on May 10 and still controls the company through the general partner. The company also signed a sixth credit agreement amendment letting the operating company pay distributions to other holders and issue nonvoting units. The filing says the steps are not expected to be taxable to the company and describes the structure as expected to give operational and tax benefits.
2 May 2018quarterly activities report● Neutral
VNOM Sub, Inc. reported quarterly revenue of $75.3 million and net income of $99.4 million for the period ended 2018-06-30.
1 May 2018quarterly activities report● Neutral
VNOM Sub, Inc. reported quarterly revenue of $75.3 million and net income of $99.4 million for the period ended 2018-06-30.
21 Feb 2018director interest notice● Neutral
Paul Molnar became a VNOM Sub, Inc. Exec VP Expl. & Bus. Dev. and company insider (initial ownership filing).
15 Feb 2018director interest notice● Neutral
VNOM Sub, Inc. Chief Executive Officer Stice Travis D. received 48,033 shares as part of the equity award.
15 Feb 2018director interest notice● Neutral
VNOM Sub, Inc. President Van't Hof Matthew Kaes received 53,370 shares as part of the equity award.
6 Feb 2018quarterly activities report● Neutral
VNOM Sub, Inc. reported quarterly revenue of $62.2 million and net income of $42.9 million for the period ended 2018-03-31.
4 Dec 2017debt financing▲ GoodMajor
On November 28, 2017 the company signed a fifth amendment to its Wells Fargo credit agreement, extending maturity from July 2019 to November 1, 2022 and lowering interest margins (0.75%-1.75% over the alternate base rate, 1.75%-2.75% over LIBOR). The maximum credit amount rose to $2.0 billion and the borrowing base to $400 million from $275 million. It also raised the mortgage requirement to 85% of property value and allowed cash to be netted against debt in the leverage covenant. This reverses the higher margins set in the October 2016 amendment.
25 Oct 2017quarterly activities report● Neutral
VNOM Sub, Inc. reported a quarterly net income of $26.6 million for the period ended 2017-09-30.
24 Oct 2017quarterly activities report● Neutral
VNOM Sub, Inc. reported a quarterly net income of $26.6 million for the period ended 2017-09-30.
21 Aug 2017director interest notice● Neutral
VNOM Sub, Inc. director Hollis Michael L. bought 2,500 shares on the open market at $16.07.
18 Aug 2017director interest notice● Neutral
VNOM Sub, Inc. President Van't Hof Matthew Kaes received 16,038 shares as part of the equity award.
2 Aug 2017quarterly activities report● Neutral
VNOM Sub, Inc. reported a quarterly net income of $26.6 million for the period ended 2017-09-30.
2 Aug 2017quarterly activities report● Neutral
VNOM Sub, Inc. reported a quarterly net income of $26.6 million for the period ended 2017-09-30.
27 July 2017director interest notice● Neutral
VNOM Sub, Inc. director Grover Rosalind Redfern received 6,414 shares as part of the equity award.
27 July 2017director interest notice● Neutral
VNOM Sub, Inc. director Armour Spencer D III received 6,414 shares as part of the equity award.
27 July 2017director interest notice● Neutral
VNOM Sub, Inc. director William Wesley Perry received 6,414 shares as part of the equity award.
27 July 2017director interest notice● Neutral
VNOM Sub, Inc. director Rubin James L. received 6,414 shares as part of the equity award.
27 July 2017director interest notice● Neutral
VNOM Sub, Inc. director Steven E West received 6,414 shares as part of the equity award.
25 July 2017director interest notice● Neutral
VNOM Sub, Inc. Exec. VP, General Counsel, Sec Randall J Holder bought 4,622 shares on the open market at $14.75.
25 July 2017director interest notice● Neutral
VNOM Sub, Inc. Exec. VP Reservoir Engineering Pantermuehl Russell bought 18,487 shares on the open market at $14.75.
25 July 2017director interest notice● Neutral
VNOM Sub, Inc. President Van't Hof Matthew Kaes bought 3,080 shares on the open market at $14.75.
25 July 2017director interest notice● Neutral
VNOM Sub, Inc. CFO, Exec. VP and Assist. Sec Dick Teresa L. bought 1,540 shares on the open market at $14.75.
25 July 2017director interest notice● Neutral
VNOM Sub, Inc. director Steven E West bought 30,811 shares on the open market at $14.75.
25 July 2017director interest notice● Neutral
VNOM Sub, Inc. Chief Executive Officer Stice Travis D. bought 30,811 shares on the open market at $14.75.
25 July 2017director interest notice● Neutral
VNOM Sub, Inc. director Hollis Michael L. bought 6,162 shares on the open market at $14.75.
21 July 2017material agreement● NeutralMajor
On July 17, 2017 the company agreed to sell 14,000,000 units at $14.75 (plus a 2,100,000-unit option, exercised in full on July 18); the sale closed July 21 with net proceeds of about $232.6 million. Diamondback bought 700,000 units and held about 64% of the partnership afterward, down from about 84% in 2016 (earlier context). Proceeds are to repay revolver debt, fund part of the price of 'pending acquisitions' (not named or priced in this filing) and for general purposes.
19 July 2017securities registration● Neutral
VNOM Sub, Inc. filed a prospectus supplement for an offering off its existing shelf.
17 July 2017securities registration● Neutral
VNOM Sub, Inc. filed a prospectus supplement for an offering off its existing shelf.