Past year: ▼ 95%(2.50c – 61.9c USD)
Each one in plain English, with the numbers worked through for a shareholder.
7 Mar 2018asset acquisition disposition● NeutralMajor
The Hunt acquisition closed on March 1, 2018, with the company paying about $84 million for roughly 9,700 net acres in Gonzales and Lavaca Counties, Texas. Alongside it, the revolver borrowing base was raised from $237.5 million to $340.0 million. This completes the Hunt deal announced in January and delivers the borrowing base increase the company had said it was seeking.
14 Feb 2018substantial holder notice● Neutral
Par-Four Investment Management, LLC, Robert B. Burke, Sunrise Partners Limited Partnership, Paloma International, L.P, Paloma Partners Management Company, Paloma Partners Advisors LP, Paloma Partners Advisors, Inc, Gregory Hayt, S. Donald Sussman reported no remaining BAYTEX ENERGY USA, INC. shareholding in its periodic institutional filing.
14 Feb 2018substantial holder notice● Neutral
ANCHORAGE CAPITAL GROUP, L.L.C, ANCHORAGE ADVISORS MANAGEMENT, L.L.C, KEVIN M. ULRICH reported a BAYTEX ENERGY USA, INC. shareholding of 639,711 shares (4.30% of votes) in a periodic institutional filing.
14 Feb 2018substantial holder notice● Neutral
Grantham, Mayo, Van Otterloo & Co. LLC reported holding 252,261 Penn Virginia (Baytex Energy USA) shares, 1.68% of the class, as of December 31, 2017. The filing stated it was no longer a holder of more than 5%.
9 Feb 2018substantial holder notice● Neutral
BlackRock, Inc reported a BAYTEX ENERGY USA, INC. shareholding of 749,148 shares (4.99% of votes) in a periodic institutional filing.
1 Feb 2018substantial holder notice● Neutral
BlackRock, Inc disclosed a new substantial BAYTEX ENERGY USA, INC. shareholding (5.00% of votes).
29 Jan 2018director interest notice● Neutral
Michael F Hanna became a BAYTEX ENERGY USA, INC. director and company insider (initial ownership filing).
29 Jan 2018substantial holder notice● Neutral
KLS Diversified Asset Management LP disclosed a new substantial BAYTEX ENERGY USA, INC. shareholding (7.80% of votes).
29 Jan 2018director interest notice● Neutral
Kls Diversified Asset Management LP became a BAYTEX ENERGY USA, INC. director and company insider (initial ownership filing).
26 Jan 2018substantial holder notice● Neutral
EIG Management Company, LLC, Raptor Energy GP, LLC, EIG Asset Management, LLC, EIG Global Energy Partners, LLC, The R. Blair Thomas, R. Blair Thomas, The Randall Wade, The Kristina Wade, Randall S. Wade reported no remaining BAYTEX ENERGY USA, INC. shareholding in its periodic institutional filing.
26 Jan 2018director interest notice● Neutral
David P Geenberg became a BAYTEX ENERGY USA, INC. director and company insider (initial ownership filing).
4 Jan 2018material agreement● NeutralMajor
On December 30, 2017 the company's subsidiary agreed to buy Hunt Oil's Eagle Ford assets (about 9,700 net acres, mainly Gonzales and Lavaca Counties, Texas) for about $86.0 million in cash, expected to close around March 1, 2018. The press release says it would be funded from the credit facility and that the company was in talks with lenders to raise the $237.5 million borrowing base. This is a second bolt-on purchase following the Devon deal. The release also describes John A. Brooks as President and CEO, whereas he was Interim Principal Executive Officer in the July 2017 release.
2 Jan 2018securities registration● Neutral
BAYTEX ENERGY USA, INC. filed the final prospectus for a registered offering.
20 Dec 2017securities registration● Neutral
BAYTEX ENERGY USA, INC. amended an already-effective registration statement.
11 Dec 2017substantial holder notice● Neutral
Mangrove Partners Master Fund, Ltd, The Mangrove Partners Fund, L.P, Mangrove Partners, Mangrove Capital, Nathaniel August reported a BAYTEX ENERGY USA, INC. shareholding of 1,437,243 shares (9.60% of votes) in a periodic institutional filing.
30 Nov 2017director interest notice● Neutral
BAYTEX ENERGY USA, INC. Executive Chairman Harry Quarls bought 5,000 shares on the open market at $34.64.
24 Nov 2017substantial holder notice● Neutral
Debello Investors LLC, Wexford Catalyst Investors LLC, Wexford Spectrum Investors LLC, Wexford Capital LP, Wexford GP LLC, Charles E. Davidson, Joseph M. Jacobs reported a BAYTEX ENERGY USA, INC. shareholding of 607,554 shares (4.05% of votes) in a periodic institutional filing.
13 Nov 2017director interest notice● Neutral
BAYTEX ENERGY USA, INC. Executive Chairman Harry Quarls bought 5,000 shares on the open market at $38.72.
9 Nov 2017quarterly activities report● Neutral
Penn Virginia reported third-quarter 2017 product revenues of $34.3 million, down from $36.3 million in the second quarter on a 7% production decline. It posted a net loss of $5.9 million.
9 Nov 2017quarterly activities report● Neutral
BAYTEX ENERGY USA, INC. reported quarterly revenue of $34.5 million for the period ended 2017-09-30.
5 Oct 2017asset acquisition disposition● NeutralMajor
The Devon acquisition closed on September 29, 2017: the company paid about $197 million at closing, with about $4 million of working-capital adjustments applied and up to about $3 million of escrow possibly released to Devon after title defects are cured. It was funded by a new $200 million second lien term loan from Jefferies Finance (due September 29, 2022, interest at LIBOR plus 7.00% or a reference rate plus 6.00%, no financial covenants), and the revolver borrowing base was raised to $237.5 million from $200 million. This resolves the pending Devon deal and adds a second lien layer behind the Wells Fargo revolver, with an intercreditor agreement governing the two lender groups.
29 Sept 2017director interest notice● Neutral
Strategic Value Partners, LLC became a BAYTEX ENERGY USA, INC. 10%+ owner and company insider (initial ownership filing).
1 Sept 2017substantial holder notice● Neutral
Mangrove Partners Master Fund, Ltd, The Mangrove Partners Fund, L.P, Mangrove Partners, Mangrove Capital, Nathaniel August reported a BAYTEX ENERGY USA, INC. shareholding of 1,410,777 shares (9.40% of votes) in a periodic institutional filing.
17 Aug 2017director interest notice● Neutral
BAYTEX ENERGY USA, INC. officer John A Brooks received 13,335 shares as part of the equity award.
17 Aug 2017director interest notice● Neutral
BAYTEX ENERGY USA, INC. Executive Chairman Harry Quarls received 9,455 shares as an equity award and bought 5,000 shares on the open market.
9 Aug 2017quarterly activities report● Neutral
BAYTEX ENERGY USA, INC. reported quarterly revenue of $36.3 million for the period ended 2017-06-30.
9 Aug 2017quarterly activities report● Neutral
BAYTEX ENERGY USA, INC. reported quarterly revenue of $36.3 million for the period ended 2017-06-30.
2 Aug 2017debt financing● NeutralMajor
On July 30, 2017 the company's subsidiary agreed to buy Devon Energy's Eagle Ford assets (about 19,600 net acres, mainly Lavaca County, Texas) for about $205.0 million in cash, expected to close in September 2017. It put $10.25 million into escrow as earnest money and signed a commitment letter with Jefferies Finance for $150.0 million of new second-lien debt (reducible to $125.0 million), with the rest to come from the existing revolver. This is a new growth thread that adds debt, following the June 2017 borrowing base increase to $200 million.
30 June 2017debt financing▲ Good
On June 27, 2017 the company amended its credit agreement with Wells Fargo as agent, raising the borrowing base from $128 million to $200 million in the scheduled semi-annual review. The next redetermination is scheduled for October 2017. This is the post-bankruptcy revolver, dated September 12, 2016, and the borrowing base had been $128 million, the figure expected under the plan.
10 May 2017quarterly activities report● Neutral
Reported first-quarter 2017 product revenues of $34.7 million, up 7.4% from the fourth quarter, with net income of $28.4 million and operating income of $11.9 million.
