13 Nov 2007substantial holder notice● Neutral
Wellington Management Company, LLP disclosed a new substantial BRIGHAM EXPLORATION CO shareholding (12.20% of votes).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
9 Nov 2007substantial holder notice● Neutral
Lazard Asset Management LLC reported a BRIGHAM EXPLORATION CO shareholding of 72,970 shares (0.16% of votes) in a periodic institutional filing.
6 July 2007securities registration● Neutral
BRIGHAM EXPLORATION CO filed the final prospectus for a registered offering.
25 May 2007securities registration● Neutral
BRIGHAM EXPLORATION CO filed the final prospectus for a registered offering.
10 May 2007securities registration● Neutral
BRIGHAM EXPLORATION CO registered a securities offering with the SEC using its shelf eligibility.
9 May 2007business combination● Neutral
Brigham filed a registration statement to let holders swap the $35 million of unregistered add-on 9 5/8% Senior Notes due 2014 (issued April 9, 2007) for identical registered notes, as the registration rights agreement requires. It receives no proceeds. The text shows 2006 revenue of $106.3 million, net income of $19.8 million (versus $27.4 million in 2005), proved reserves of 146.5 Bcfe and average production of 36.8 MMcfe per day, up 11% from 2005.
13 Apr 2007debt financing● NeutralMajor
Brigham sold an additional $35 million of its 9 5/8% Senior Notes due 2014 on April 9, 2007, priced at 99.5% of face to yield 9.721%, raising the total of these notes to $160 million. It plans to use the net proceeds to repay senior credit agreement borrowings and for general purposes, with no increase to its announced capital budget. A March 27, 2007 amendment to the credit agreement allowed the add-on and set the borrowing base at $101 million (the context's last figure was $50 million). The new notes carry a registration rights agreement requiring an exchange offer to be effective within 180 days of April 9, 2007.
14 Feb 2007substantial holder notice● Neutral
Munder Capital Management reported a BRIGHAM EXPLORATION CO shareholding of 1,853,613 shares (4.10% of votes) in a periodic institutional filing.
13 Feb 2007substantial holder notice● Neutral
Ben M. Brigham, Anne L. Brigham reported a BRIGHAM EXPLORATION CO shareholding of 3,109,416 shares (6.83% of votes) in a periodic institutional filing.
8 Feb 2007substantial holder notice● Neutral
Lazard Asset Management LLC disclosed a new substantial BRIGHAM EXPLORATION CO shareholding (5.55% of votes).
26 Jan 2007substantial holder notice● Neutral
/ Artisan Partners Limited Partnership, Artisan Investment Corporation, Andrew A. Ziegler, Carlene Murphy Ziegler reported no remaining BRIGHAM EXPLORATION CO shareholding in its periodic institutional filing.
5 Dec 2006material agreement● Neutral
On November 29, 2006 Brigham signed an Amended and Restated Indemnity Agreement with all its directors and officers, keeping the earlier indemnification protections and adding clarification of the indemnification process and procedure. The filing gives no dollar amounts and no other business change.
25 Oct 2006securities registration● Neutral
BRIGHAM EXPLORATION CO filed the final prospectus for a registered offering.
14 Sept 2006securities registration● Neutral
BRIGHAM EXPLORATION CO filed the final prospectus for a registered offering.
31 Aug 2006securities registration● Neutral
BRIGHAM EXPLORATION CO amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
31 Aug 2006business combination● Neutral
Brigham filed Amendment No. 1 to its June 2006 registration statement for swapping the $125 million of unregistered 9 5/8% Senior Notes due 2014 (issued April 20, 2006) for identical registered notes. It receives no proceeds; the SEC had not yet declared it effective and the expiry date of the offer is blank. This continues the open exchange-offer thread, which is not yet resolved.
10 Aug 2006securities registration● Neutral
BRIGHAM EXPLORATION CO amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
31 July 2006securities registration● Neutral
BRIGHAM EXPLORATION CO registered a securities offering with the SEC using its shelf eligibility.
23 June 2006business combination● Neutral
Brigham filed a registration statement to let holders swap the $125 million of unregistered 9 5/8% Senior Notes due 2014 issued in April 2006 for identical registered notes, as required by the registration rights agreement. It receives no proceeds. The text shows 2005 revenue of $97 million, net income of $27.4 million, proved reserves of 133.2 Bcfe and average production of 33.1 MMcfe per day, and mentions the Bakken acreage and two Southern Louisiana joint ventures announced in February 2006.
20 June 2006auditor change● Neutral
Brigham dismissed PricewaterhouseCoopers and hired KPMG as its auditor for 2006. The filing says there were no disagreements with PwC, and its reports had no adverse opinion. The only reportable event was the December 31, 2004 material weakness over depletion expense, which relates to the 2005 restatement; the company said controls were effective at the end of 2005.
14 June 2006securities registration● Neutral
BRIGHAM EXPLORATION CO amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
19 May 2006material agreement termination● Neutral
On April 20, 2006 Brigham used the note proceeds to repay the $30 million outstanding under its Royal Bank of Scotland subordinated credit agreement and then terminated it. It also terminated an interest rate swap that had fixed the rate on $20 million of borrowings at 7.6%. This carries out the plan announced in the April notes filing.
24 Apr 2006debt financing● NeutralMajor
Brigham issued $125 million of 9 5/8% Senior Notes due May 1, 2014 (priced at 98.629% of face, yielding 9 7/8%) and amended its senior credit agreement, cutting the borrowing base to $50 million. It intends to use part of the proceeds to repay all senior credit borrowings and terminate the Royal Bank of Scotland subordinated facility. This replaces the bank debt put in place in June 2005 with long-term fixed-rate notes, and the notes carry restrictions on extra debt, dividends and share repurchases.
30 Mar 2006substantial holder notice● Neutral
Munder Capital Management disclosed a new substantial BRIGHAM EXPLORATION CO shareholding (5.80% of votes).
27 Mar 2006securities registration● Neutral
BRIGHAM EXPLORATION CO amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
15 Feb 2006securities registration● Neutral
BRIGHAM EXPLORATION CO registered a securities offering with the SEC using its shelf eligibility.
27 Jan 2006substantial holder notice● Neutral
/ Artisan Partners Limited Partnership, Artisan Investment Corporation, Andrew A. Ziegler, Carlene Murphy Ziegler disclosed a new substantial BRIGHAM EXPLORATION CO shareholding (5.60% of votes).
5 Dec 2005asset acquisition disposition● Neutral
The underwriters exercised their option to buy another 1,125,000 shares on November 29, 2005, and Brigham used the proceeds to buy back 1,125,000 shares from Credit Suisse First Boston-affiliated funds at $11.46 per share on December 2. This completes the offering-and-repurchase sequence begun in November.
28 Nov 2005asset acquisition disposition● NeutralMajor
Brigham bought back 5,000,000 of its own shares at $11.46 each from funds managed by affiliates of Credit Suisse First Boston, paying for it with part of the proceeds of the 7,500,000-share sale. This follows the November share offering and offsets part of the new shares issued.
18 Nov 2005securities registration● Neutral
BRIGHAM EXPLORATION CO filed a prospectus supplement for an offering off its existing shelf.