24 June 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P director Philip B Smith received 3,500 shares as part of the equity award.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
23 June 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P SVP, Corporate Development Garcia Alfredo sold 3,861 shares at $3.41.
14 June 2010listing compliance notice▲ GoodMajor
Nasdaq certified EAGLE ROCK ENERGY PARTNERS L P's securities for listing, clearing them to begin trading.
8 June 2010securities registration● Neutral
EAGLE ROCK ENERGY PARTNERS L P filed notice of an exempt private placement.
4 June 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P SVP, Midstream Business Puckett William E had 5,258 shares withheld for taxes on vesting stock.
4 June 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P SVP and General Counsel Boettcher Charles C had 10,044 shares withheld for taxes on vesting stock.
4 June 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P SVP, Upstream and Minerals Joseph E Schimelpfening had 10,044 shares withheld for taxes on vesting stock.
4 June 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P SVP, Technical Evaluations Steven G Hendrickson had 10,044 shares withheld for taxes on vesting stock.
4 June 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P SVP & Chief Financial Officer Wood Jeffrey P. had 12,359 shares withheld for taxes on vesting stock.
4 June 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P CEO and Chairman Joseph A Mills had 21,190 shares withheld for taxes on vesting stock.
4 June 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P SVP, Corporate Development Garcia Alfredo had 472 shares withheld for taxes on vesting stock.
4 June 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P VP & Controller, Corp & Mids Langemeier Jeffrey D had 2,285 shares withheld for taxes on vesting stock.
27 May 2010securities registration● Neutral
EAGLE ROCK ENERGY PARTNERS L P filed the final prospectus for a registered offering.
26 May 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P 10%+ owner Eagle Rock Holdings, L.p. disposed of 24,261,809 shares via option/appreciation-right settlement.
26 May 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P director Kenneth A Hersh disposed of 24,261,809 shares via option/appreciation-right settlement.
25 May 2010asset acquisition disposition● NeutralMajor
The recapitalization closed on May 24, 2010: the minerals business (fee mineral and royalty interests plus the Ivory Working Interests stake) was sold to Black Stone Minerals for $171.6 million cash, down from the $174.5 million agreed in December 2009 after price adjustments, with further true-ups possible. NGP's Eagle Rock Holdings handed over all 20,691,495 subordinated units and all incentive distribution rights, which were cancelled, and received 4,825,211 new common units as the $29 million fee. Unitholders approved the deal on May 21, 2010. NGP parties will buy 5,029,472 common units for $12,573,680 through the rights offering. The partnership can buy its general partner for 1,000,000 units, after which public unitholders would elect a majority of the board; the conflicts committee said it will do so once it finds two more independent directors. This resolves the vote and minerals-sale threads and continues the GP-option thread.
17 May 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P SVP, Corporate Development Garcia Alfredo had 1,309 shares withheld for taxes on vesting stock.
17 May 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P SVP, Upstream and Minerals Joseph E Schimelpfening had 4,397 shares withheld for taxes on vesting stock.
17 May 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P director Philip B Smith received 9,837 shares as part of the equity award.
17 May 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P CEO and Chairman Joseph A Mills had 15,063 shares withheld for taxes on vesting stock.
17 May 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P director William A Smith received 9,837 shares as part of the equity award.
17 May 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P director White William Kemper received 9,837 shares as part of the equity award.
17 May 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P SVP, Technical Evaluations Steven G Hendrickson had 4,397 shares withheld for taxes on vesting stock.
17 May 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P SVP, Midstream Business Puckett William E had 1,772 shares withheld for taxes on vesting stock.
17 May 2010director interest notice● Neutral
EAGLE ROCK ENERGY PARTNERS L P SVP and General Counsel Boettcher Charles C had 6,679 shares withheld for taxes on vesting stock.
7 May 2010quarterly activities report● Neutral
EAGLE ROCK ENERGY PARTNERS L P reported quarterly revenue of $216.5 million and net income of $68.1 million for the period ended 2010-06-30.
6 May 2010quarterly activities report● Neutral
EAGLE ROCK ENERGY PARTNERS L P reported quarterly revenue of $216.5 million and net income of $68.1 million for the period ended 2010-06-30.
27 Apr 2010capital raising announcement● NeutralMajor
The Conflicts Committee confirmed the $29 million transaction fee to ERH will be paid in 4,825,211 new common units, at $6.0101 per unit (90% of the 10-day weighted average price as of April 24, 2010). The units are issued only if unitholders approve and the minerals sale closes. The special meeting is set for May 14, 2010, with the minerals sale expected to close on or before May 25, 2010. This continues the recapitalization thread by fixing the fee form and unit count.
What it means for a shareholder
4.8m new shares at $6.01 to raise about $29.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
9 Mar 2010debt financing● NeutralMajor
Eagle Rock amended its December 2007 credit agreement on March 8, 2010 so that exercising the option to buy the general partner would not count as a change of control, if unitholders approve the recapitalization before July 31, 2010. In exchange, the maximum senior secured leverage ratio drops from 4.25x to 3.75x, and $100 million of the minerals sale proceeds must repay the revolver, cutting total commitments to $871 million. The filing says current availability is not affected. This continues the recapitalization and minerals sale threads and ties them to the lenders.
29 Jan 2010securities registration● Neutral
EAGLE ROCK ENERGY PARTNERS L P amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.