9 Feb 2017director interest notice● Neutral
Cimarex Resolute LLC officer Michael Stefanoudakis received 32,127 shares and a 16,063-share option grant as part of the equity award.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
9 Feb 2017director interest notice● Neutral
Cimarex Resolute LLC Executive VP, CFO Theodore Gazulis received 34,422 shares and a 17,211-share option grant as part of the equity award.
9 Feb 2017substantial holder notice● Neutral
Wellington Management Group LLP, Wellington Group Holdings LLP, Wellington Investment Advisors Holdings LLP, Wellington Management Company LLP disclosed a new substantial Cimarex Resolute LLC shareholding (8.58% of votes).
9 Feb 2017director interest notice● Neutral
Cimarex Resolute LLC director Thomas O Hicks Jr. received 3,934 shares as part of the equity award.
9 Feb 2017director interest notice● Neutral
Cimarex Resolute LLC President James M Piccone received 43,535 shares and a 21,767-share option grant as part of the equity award.
20 Jan 2017material agreement● Neutral
On January 17, 2017 a subsidiary agreed to sell its Lea County, New Mexico oil and gas properties to an undisclosed buyer for $15M (effective October 1, 2016), with a $1.5M deposit paid and closing expected around February 22, 2017. Proceeds are to reduce revolver borrowings or for other corporate purposes. This is another small asset sale, following the 2015 sales and the 2016 midstream sale.
3 Jan 2017director interest notice● Neutral
Cimarex Resolute LLC director Thomas O Hicks Jr. sold 10,000 shares at $40.05.
3 Jan 2017director interest notice● Neutral
Cimarex Resolute LLC director Gary Hultquist bought 2,000 shares on the open market at $40.70.
29 Dec 2016director interest notice● Neutral
Cimarex Resolute LLC director James E Duffy sold 10,000 shares at $40.68.
29 Dec 2016director interest notice● Neutral
Cimarex Resolute LLC officer James A Tuell sold 6,000 shares at $41.27.
27 Dec 2016director interest notice● Neutral
Cimarex Resolute LLC Chief Executive Officer Nicholas J Sutton gifted 8,400 shares.
22 Dec 2016material agreement● NeutralMajor
On December 19, 2016 the company agreed to sell 3,800,000 common shares to the public at $38.00 each through underwriters led by BMO Capital Markets and Goldman Sachs. The underwriters took up their full 570,000-share option, bringing the total to 4,370,000 shares and net proceeds of about $160.8M, with closing expected around December 23, 2016. This is a large new issuance that dilutes existing holders; the filing does not state what the money is for.
21 Dec 2016securities registration● Neutral
Cimarex Resolute LLC filed a prospectus supplement for an offering off its existing shelf.
21 Dec 2016substantial holder notice● Neutral
John C. Goff, The John C. Goff, Goff Family Investments, LP, Kulik Partners, LP, Cuerno Largo Partners, LP, The Goff Family Foundation, JCG, Cuerno Largo, LLC, Kulik GP, LLC, Goff Capital, Inc reported a Cimarex Resolute LLC shareholding of 1,664,808 shares (7.80% of votes) in a periodic institutional filing.
19 Dec 2016securities registration● Neutral
Cimarex Resolute LLC filed a prospectus supplement for an offering off its existing shelf.
5 Dec 2016substantial holder notice● Neutral
Firewheel Energy, LLC, EnCap Energy Capital Fund VIII, L.P, EnCap Partners, LLC reported a Cimarex Resolute LLC shareholding of 864,523 shares (4.92% of votes) in a periodic institutional filing.
5 Dec 2016securities registration● Neutral
Cimarex Resolute LLC filed the final prospectus for a registered offering.
2 Dec 2016director interest notice● Neutral
Cimarex Resolute LLC 10%+ owner Firewheel Energy, LLC sold 1,250,000 shares.
1 Dec 2016material agreement● Neutral
On November 29, 2016, a subsidiary and Kinder Morgan CO2, the company's CO2 supplier, amended their 2007 CO2 purchase contract, effective October 1, 2016. The amendment changes the annual and aggregate volume commitments for CO2 purchases and adds administrative changes; the filing does not state the new volumes or their effect on costs.
23 Nov 2016substantial holder notice● Neutral
Sageview Capital Master, L.P, Sageview Capital GenPar, L.P, Sageview Capital MGP, LLC, Edward A. Gilhuly, Scott M. Stuart reported a Cimarex Resolute LLC shareholding of 765,202 shares (4.40% of votes) in a periodic institutional filing.
14 Nov 2016securities registration● Neutral
Cimarex Resolute LLC filed the final prospectus for a registered offering.
7 Nov 2016quarterly activities report▼ Bad
Cimarex Resolute LLC reported a quarterly net loss of $18.9 million for the period ended 2016-09-30.
7 Nov 2016quarterly activities report▼ Bad
Cimarex Resolute LLC reported a quarterly net loss of $18.9 million for the period ended 2016-09-30.
7 Nov 2016securities registration● Neutral
Cimarex Resolute LLC registered a securities offering with the SEC using its shelf eligibility.
27 Oct 2016substantial holder notice● Neutral
Firewheel Energy, LLC, EnCap Energy Capital Fund VIII, L.P, EnCap Partners, LLC disclosed a new substantial Cimarex Resolute LLC shareholding (12.06% of votes).
26 Oct 2016securities registration● Neutral
Cimarex Resolute LLC registered a securities offering with the SEC using its shelf eligibility.
26 Oct 2016director interest notice● Neutral
Firewheel Energy, LLC became a Cimarex Resolute LLC 10%+ owner and company insider (initial ownership filing).
11 Oct 2016substantial holder notice● Neutral
John C. Goff, The John C. Goff, Goff Family Investments, LP, Kulik Partners, LP, Cuerno Largo Partners, LP, The Goff Family Foundation, JCG, Cuerno Largo, LLC, Kulik GP, LLC, Goff Capital, Inc reported a Cimarex Resolute LLC shareholding of 1,564,808 shares (8.90% of votes) in a periodic institutional filing.
7 Oct 2016asset acquisition disposition● NeutralMajor
The $135M Firewheel purchase of Delaware Basin properties in Reeves County, Texas closed on October 7, 2016 (effective September 1, 2016), with 2,114,523 new common shares issued to Firewheel as part of the price. The same day the preferred stock sale closed: BMO fully exercised its option, so 62,500 shares of 8⅛% Series B convertible preferred were sold for $60M net before offering expenses, which could convert into 2,116,350 common shares and ranks ahead of common stock in a liquidation. The revolver's borrowing base was re-affirmed at $105M (down from the $145M noted after the Gardendale sale), and the September 30 amendment allowing preferred dividends is formally filed. This resolves the pending Firewheel and preferred closings from the October 5 filing.
5 Oct 2016capital raising announcement● NeutralMajor
On October 4, 2016 the company agreed to buy Delaware Basin properties in Reeves County, Texas, from Firewheel Energy, LLC for $135M: $90M in cash plus about 2,114,523 new common shares worth $45M, with closing expected October 7, 2016. To help fund it, it agreed to sell 55,000 shares of 8⅛% Series B convertible preferred stock ($1,000 liquidation preference each, convertible at about $29.53 per common share) to BMO Capital Markets, with an option for 7,500 more. Existing shareholders face dilution from the new shares and the convertible preferred. The revolver was also amended on September 30, 2016 to allow preferred dividends within set limits. This is a shift from selling assets to adding Delaware Basin acreage.