1 Oct 2018security holder rights change● Neutral
Diamondback formally issued the $750 million of add-on 2024 bonds it had priced a week earlier.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
24 Sept 2018material agreement● Neutral
Diamondback raised $750 million in new 2024 bonds to pay down its revolving credit line and help fund a newly disclosed pending purchase of assets from Ajax Resources, LLC.
24 Sept 2018director interest notice● Neutral
Diamondback Energy, Inc. Exec. VP Exploration & Bus Dev Molnar Paul sold 5,000 shares at $127.64.
24 Sept 2018director interest notice● Neutral
Diamondback Energy, Inc. Exec. VP Reservoir Engineering Pantermuehl Russell sold 1,032 shares at $129.30.
20 Sept 2018director interest notice● Neutral
Diamondback Energy, Inc. Exec. VP Reservoir Engineering Pantermuehl Russell sold 2,000 shares at $127.80.
13 Sept 2018business combination● NeutralMajor
Registration statement and joint proxy for Diamondback's all-stock purchase of Energen, at 0.6442 Diamondback shares per Energen share - about $84.95 an Energen share when the agreement was signed on August 14, 2018. The background section shows Diamondback raising its bid from an implied $85 on August 1 to roughly $87 two days later; J.P. Morgan gave Energen's board the fairness opinion, and Diamondback owes a $400 million reverse break fee if it is the side that walks.
7 Sept 2018debt financing● Neutral
Diamondback adjusted its credit agreement to support drilling joint ventures, formally carving Rattler Midstream and Tall City Towers out as separate entities outside the credit facility.
5 Sept 2018director interest notice● Neutral
Diamondback Energy, Inc. Sr. VP - Strategy & Corp Dev Van't Hof Matthew Kaes sold 140 shares at $120.61.
15 Aug 2018merger communication● Neutral
Diamondback reported its August 14, 2018 merger agreement with Energen: each Energen share converts into 0.6442 of a Diamondback share. Termination fees are $400 million payable by Diamondback and $250 million by Energen, with an outside date of March 31, 2019.
15 Aug 2018merger communication▲ Good
Diamondback's CEO sent employees a note about the newly announced Energen Corporation merger, framing it as a step up in scale without changing the company's low-cost strategy.
15 Aug 2018merger communication▲ Good
Diamondback filed an 8-K posting an updated investor presentation, 'Transformational Combination with Energen', and attaching the joint press release announcing the Energen merger agreement signed August 14, 2018.
15 Aug 2018business combination● Neutral
Another required duplicate filing of Diamondback's investor presentation and press release on the pending Energen Corporation merger.
15 Aug 2018business combination▲ Good
Diamondback entered into a merger agreement with Energen on August 14, 2018, under which each Energen share converts into 0.6442 of a Diamondback share. Termination fees are $400 million payable by Diamondback and $250 million by Energen, with an outside date of March 31, 2019.
14 Aug 2018merger communication▲ GoodMajor
Diamondback agreed to buy Energen in an all-stock deal valued at about $9.2 billion including net debt. The combined company would hold over 266,000 net Tier One Permian acres, up 57%, and 390,000 net acres across the Midland and Delaware basins, up 85%.
9 Aug 2018quarterly activities report● Neutral
Diamondback filed its 10-Q for the quarter ended June 30, 2018, which mentions the pending Ajax Resources acquisition. The visible text showed cash of $113.9 million and net property and equipment of $8.34 billion.
8 Aug 2018quarterly activities report● Neutral
Diamondback reported Q2 2018 net income of $219 million ($2.22 per diluted share) on production of 112.6 Mboe/d, up 46% year over year. It also agreed to buy Ajax Resources' Northern Midland Basin leasehold for $900 million in cash and 2.58 million shares.
19 July 2018securities registration● Neutral
Diamondback filed the final prospectus for its offer to exchange up to $300 million of 5.375% senior notes due 2025, issued privately in January 2018, for identical registered notes. The exchange offer was set to expire on August 20, 2018, and Diamondback received no proceeds.
18 July 2018director interest notice● Neutral
Diamondback Energy, Inc. President and COO Hollis Michael L. sold 5,000 shares at $128.85.
28 June 2018debt financing● Neutral
Diamondback registered the $300 million of add-on 5.375% notes due 2025 it had placed privately in January so holders could swap them for identical SEC-registered notes -- a securities-law formality that changes nothing about the debt itself.
21 June 2018director interest notice● Neutral
Diamondback Energy, Inc. Sr. VP - Strategy & Corp Dev Van't Hof Matthew Kaes sold 832 shares at $128.46.
11 June 2018director interest notice● Neutral
Diamondback Energy, Inc. director Steven E West received 1,574 shares as part of the equity award.
11 June 2018director interest notice● Neutral
Diamondback Energy, Inc. director Houston David L received 1,574 shares as part of the equity award.
11 June 2018director interest notice● Neutral
Diamondback Energy, Inc. director Trent Melanie Montague received 1,574 shares as part of the equity award.
11 June 2018director interest notice● Neutral
Diamondback Energy, Inc. director Plaumann Mark Lawrence received 1,574 shares as part of the equity award.
11 June 2018agm notice● Neutral
Diamondback Energy, Inc. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
11 June 2018director interest notice● Neutral
Diamondback Energy, Inc. director Cross Michael P received 1,574 shares as part of the equity award.
1 June 2018debt financing● Neutral
Diamondback signed a sixth amendment to its credit agreement that removed an automatic 0.25% interest step-up, raised the letter of credit limits, allowed more midstream investments and released the lenders' lien on midstream assets. The borrowing base rose to $2.0 billion while the elected commitment stayed at $1.0 billion.
21 May 2018director interest notice● Neutral
Diamondback Energy, Inc. Exec. VP Reservoir Engineering Pantermuehl Russell sold 2,000 shares at $137.00.
21 May 2018director interest notice● Neutral
Diamondback Energy, Inc. CFO, Exec. VP, Assist. Sec. Dick Teresa L. sold 2,500 shares at $136.98.
15 May 2018director interest notice● Neutral
Diamondback Energy, Inc. director Houston David L sold 6,500 shares at $125.76.