9 Feb 2018substantial holder notice● Neutral
The Vanguard Group disclosed a new substantial Cimarex Resolute LLC shareholding (5.76% of votes).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
8 Feb 2018substantial holder notice● Neutral
Wellington Management Group LLP, Wellington Group Holdings LLP, Wellington Investment Advisors Holdings LLP, Wellington Management Company LLP reported a Cimarex Resolute LLC shareholding of 1,820,879 shares (8.09% of votes) in a periodic institutional filing.
7 Feb 2018substantial holder notice● Neutral
VR Global Partners, L.P, VR Advisory Services Ltd, VR Capital Participation Ltd, VR Capital Group Ltd, VR Capital Holdings Ltd, Richard Deitz disclosed a new substantial Cimarex Resolute LLC shareholding (5.20% of votes).
5 Feb 2018substantial holder notice● Neutral
Fir Tree Capital Management LP disclosed a new substantial Cimarex Resolute LLC shareholding (8.97% of votes).
1 Feb 2018substantial holder notice● Neutral
BlackRock, Inc disclosed a new substantial Cimarex Resolute LLC shareholding (6.20% of votes).
30 Jan 2018substantial holder notice● Neutral
LION POINT MASTER, LP, LION POINT CAPITAL, LP, LION POINT HOLDINGS GP, LLC, LION POINT CAPITAL GP, LLC, DIDRIC CEDERHOLM, JAMES FREEMAN disclosed a new substantial Cimarex Resolute LLC shareholding (4.30% of votes).
26 Jan 2018substantial holder notice● Neutral
Monarch Alternative Capital LP, MDRA GP LP, Monarch GP LLC disclosed a new substantial Cimarex Resolute LLC shareholding (9.21% of votes).
3 Jan 2018director interest notice● Neutral
Cimarex Resolute LLC President James M Piccone exercised stock options for 30,229 shares and disposed of 43,532 shares.
28 Dec 2017director interest notice● Neutral
Cimarex Resolute LLC director James E Duffy sold 3,000 shares at $30.96.
19 Dec 2017director interest notice● Neutral
Cimarex Resolute LLC Executive Chairman Nicholas J Sutton disposed of 18,799 shares.
18 Dec 2017director interest notice● Neutral
Cimarex Resolute LLC director James E Duffy sold 1,500 shares at $26.64.
11 Dec 2017director interest notice● Neutral
Cimarex Resolute LLC director James E Duffy sold 3,000 shares.
27 Nov 2017director interest notice● Neutral
Cimarex Resolute LLC Chief Executive Officer Richard F Betz gifted 900 shares.
22 Nov 2017director interest notice● Neutral
Cimarex Resolute LLC director James E Duffy sold 2,500 shares at $27.99.
9 Nov 2017asset acquisition disposition● Neutral
This amendment adds the pro forma financial statements for the completed Aneth sale. They show the revolver ($122.2 million at Sept 30, 2017) being fully repaid, total assets falling from $792.3 million to $626.9 million, and about $9.8 million of closing costs (severance and fees). For the first nine months of 2017, pro forma net income to common holders would have been $2.8 million versus a $3.8 million loss as reported.
7 Nov 2017asset acquisition disposition▲ GoodMajor
The Aneth Field sale to Elk Petroleum closed Nov 6, 2017, a little ahead of the expected late-October timing. The company received $150 million cash at closing plus the earlier $10 million deposit, and can still earn up to $35 million if oil prices stay above set levels; Resolute will operate Aneth for the buyer until handover on Jan 1, 2018. President James Piccone is to join Elk as CEO of Elk Petroleum, Inc. and resign from Resolute on Dec 31, 2017. Q3 results showed production of 28.6 MBoe/d, a net loss to common holders of $14.6 million, and a borrowing base of $210 million; the board approved a larger 2017 Permian capital program.
6 Nov 2017quarterly activities report▼ Bad
Cimarex Resolute LLC reported quarterly revenue of $79.4 million and a net loss of $14.6 million for the period ended 2017-09-30.
19 Oct 2017material agreement● Neutral
The company amended its bank credit agreement (Second Amendment, Oct 18, 2017), keeping the borrowing base at $218.75 million but cutting it automatically to $210 million once the Aneth sale closes. It also raised the unsecured-debt threshold that triggers borrowing base cuts from $500 million to $550 million, changed how EBITDA is calculated, and loosened hedging limits.
29 Sept 2017director interest notice● Neutral
Cimarex Resolute LLC director James E Duffy sold 2,500 shares at $30.44.
15 Sept 2017material agreement● NeutralMajor
Resolute agreed on Sept 14, 2017 to sell its Aneth Field subsidiary (Resolute Aneth, LLC) to an affiliate of Elk Petroleum Limited for up to $195 million: $160 million cash at closing (including a $10 million buyer deposit) plus up to $35 million more if WTI oil prices exceed $52.50, $55.00 and $60.00 in the three years after closing. Closing is expected around Oct 27, 2017, and proceeds will first repay the revolving credit facility. The company calls it the final step in becoming a Delaware Basin company; this sells the long-held Aneth asset described in earlier filings.
10 Aug 2017substantial holder notice● Neutral
Wellington Management Group LLP, Wellington Group Holdings LLP, Wellington Investment Advisors Holdings LLP, Wellington Management Company LLP reported a Cimarex Resolute LLC shareholding of 1,850,304 shares (8.24% of votes) in a periodic institutional filing.
7 Aug 2017quarterly activities report● Neutral
Cimarex Resolute LLC reported quarterly revenue of $70.3 million and net income of $13.2 million for the period ended 2017-06-30.
7 Aug 2017quarterly activities report● Neutral
Cimarex Resolute LLC reported quarterly revenue of $70.3 million and net income of $13.2 million for the period ended 2017-06-30.
3 Aug 2017director interest notice● Neutral
Cimarex Resolute LLC director Tod C Benton received 1,774 shares as part of the equity award.
3 Aug 2017director interest notice● Neutral
Cimarex Resolute LLC director Janet W Pasque received 1,774 shares as part of the equity award.
3 Aug 2017director interest notice● Neutral
Janet W Pasque became a Cimarex Resolute LLC director and company insider (initial ownership filing).
3 Aug 2017director interest notice● Neutral
Tod C Benton became a Cimarex Resolute LLC director and company insider (initial ownership filing).
27 June 2017director interest notice● Neutral
Cimarex Resolute LLC director James E Duffy sold 1,250 shares at $29.91.
22 June 2017director interest notice● Neutral
Cimarex Resolute LLC Executive Chairman Nicholas J Sutton gifted 1,965 shares.
21 June 2017director interest notice● Neutral
Cimarex Resolute LLC director James E Duffy sold 3,000 shares at $30.69.