29 Dec 2014director interest notice● Neutral
Flatonia Energy, LLC became a EARTHSTONE ENERGY INC 10%+ owner and company insider (initial ownership filing).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 Dec 2014director interest notice● Neutral
Flatonia Energy, LLC became a EARTHSTONE ENERGY INC 10%+ owner and company insider (initial ownership filing).
29 Dec 2014business combination● NeutralMajor
On December 19, 2014, Earthstone closed both the Oak Valley exchange (about 9,124,452 shares issued for three subsidiaries including about $130.0 million of cash) and the Flatonia contribution (2,957,288 shares for a 20% interest in the Eagle Ford project, leaving Earthstone's subsidiary and Flatonia with 50% each). Stockholders also approved the 2014 incentive plan (up to 750,000 shares). Ownership is now Oak Valley 66.0%, Flatonia 21.4%, and former Earthstone holders 12.6%, as the proxy forecast, and registration-rights deals were signed with both holders. The company's address moved to The Woodlands, Texas, and a $500.0 million four-year senior secured credit facility with Bank of Texas was entered into (rest of the filing is cut off).
23 Dec 2014director interest notice● Neutral
Urban Zachary G. became a EARTHSTONE ENERGY INC director and company insider (initial ownership filing).
23 Dec 2014director interest notice● Neutral
Thielemann Brad A. became a EARTHSTONE ENERGY INC director and company insider (initial ownership filing).
23 Dec 2014director interest notice● Neutral
Joliat Jay Frederick became a EARTHSTONE ENERGY INC director and company insider (initial ownership filing).
23 Dec 2014director interest notice● Neutral
Oak Valley Resources, LLC became a EARTHSTONE ENERGY INC 10%+ owner and company insider (initial ownership filing).
23 Dec 2014director interest notice● Neutral
Wonson G. Bret became a EARTHSTONE ENERGY INC Principal Accounting Officer and company insider (initial ownership filing).
23 Dec 2014director interest notice● Neutral
Robert L Zorich became a EARTHSTONE ENERGY INC director and company insider (initial ownership filing).
23 Dec 2014director interest notice● Neutral
Swanson Douglas E Jr. became a EARTHSTONE ENERGY INC director and company insider (initial ownership filing).
23 Dec 2014director interest notice● Neutral
Lodzinski Frank Alan became a EARTHSTONE ENERGY INC President and CEO and company insider (initial ownership filing).
23 Dec 2014director interest notice● Neutral
Rnbd Gp LLC became a EARTHSTONE ENERGY INC 10%+ owner and company insider (initial ownership filing).
23 Dec 2014director interest notice● Neutral
Anderson Robert John became a EARTHSTONE ENERGY INC EVP and company insider (initial ownership filing).
19 Dec 2014substantial holder notice● Neutral
Flatonia Energy, LLC, Flatonia Holdings, LLC, Energy Recapitalization and Restructuring Fund, L.P, ERR FI Flatonia Holdings, LLC, ERR FI II Flatonia Intermediate, L.P, Energy Recapitalization and Restructuring FI, Ltd, Energy Recapitalization and Restructuring FI Fund, L.P, Parallel Resource Partners, LLC, Bluescape Energy Partners LLC, Bluescape Resources Company LLC, C. John Wilder Jr, Carlson Energy Partners I, LLC, Carlson Energy Corp, Clint D. Carlson, John K. Howie, Ron Hulme reported a EARTHSTONE ENERGY INC shareholding of 2,957,288 shares (21.40% of votes) in a periodic institutional filing.
2 Dec 2014agm notice● Neutral
EARTHSTONE ENERGY INC announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
12 Nov 2014quarterly activities report▼ Bad
EARTHSTONE ENERGY INC reported quarterly revenue of $12.1 million and a net loss of $37.3 million for the period ended 2014-09-30.
10 Nov 2014business combination● NeutralMajor
Earthstone filed the final proxy for a December 19, 2014 special meeting (record date November 7). It adds a second deal signed October 16, 2014: a 'Flatonia contribution' in which Earthstone would issue 2,957,291 shares (21.4% after both deals) for a further 20% interest in the Fayette and Gonzales County, Texas properties, taking the combined company from 30% to 50%. If both deals close, existing shareholders would own 12.6%, Oak Valley 66.0% and Flatonia 21.4%; the Flatonia deal cannot proceed unless the Oak Valley exchange is approved. This expands the earlier Oak Valley proposal and further reduces existing holders' share.
27 Oct 2014substantial holder notice● Neutral
Flatonia Energy, LLC, Flatonia Holdings, LLC, Energy Recapitalization and Restructuring Fund, L.P, ERR FI Flatonia Holdings, LLC, ERR FI II Flatonia Intermediate, L.P, Energy Recapitalization and Restructuring FI, Ltd, Energy Recapitalization and Restructuring FI Fund, L.P, Parallel Resource Partners, LLC, Bluescape Energy Partners LLC, Bluescape Resources Company LLC, C. John Wilder Jr, Carlson Energy Partners I, LLC, Carlson Energy Corp, Clint D. Carlson, John K. Howie, Ron Hulme disclosed a new substantial EARTHSTONE ENERGY INC shareholding (26.10% of votes).
24 Oct 2014substantial holder notice● Neutral
Ray J. Singleton, Jr reported a EARTHSTONE ENERGY INC shareholding of 453,360 shares (26.10% of votes) in a periodic institutional filing.
20 Oct 2014asset acquisition disposition▲ GoodMajor
Earthstone agreed to take full ownership of the Eagle Ford acreage it had been developing jointly in Fayette and Gonzales Counties, Texas, buying out partner Flatonia Energy's 70% share entirely with stock. The barrels came at the price of a large new shareholder: Flatonia ends up holding 21.4% of the company.
2 Oct 2014material agreement● Neutral
On September 26, 2014, Earthstone and Oak Valley amended their exchange agreement. The deadline for closing moved from November 30, 2014 to January 31, 2015 (and the fallback date from December 31, 2014 to February 28, 2015), and Oak Valley is limited to at most one interim acquisition before closing. This continues the pending Oak Valley deal and gives it more time.
11 Aug 2014quarterly activities report● Neutral
EARTHSTONE ENERGY INC reported quarterly revenue of $12.1 million and net income of $4.2 million for the period ended 2014-09-30.
17 July 2014business combination● NeutralMajor
Earthstone filed a preliminary proxy statement asking shareholders to approve an exchange agreement (dated May 15, 2014) with Oak Valley Resources, LLC. Earthstone would acquire Oak Valley's three Texas subsidiaries for about 9.12 million new shares, which would leave existing shareholders with 16% and Oak Valley with 84% and put control with Oak Valley-affiliated people. Oak Valley is to make further capital contributions of $107,020,000 (subject to adjustment). Shareholders would also vote on raising authorized shares to 100 million common and 20 million preferred, a 2014 incentive plan of up to 750,000 shares, and an advisory vote on an executive severance plan. The meeting date was left blank.
17 June 2014director interest notice● Neutral
EARTHSTONE ENERGY INC CEO Ray J Jr. Singleton exercised stock options for 1,078 shares.
17 June 2014director interest notice● Neutral
EARTHSTONE ENERGY INC director Andrew P Calerich exercised stock options for 3,712 shares and disposed of 2,033 shares.
17 June 2014director interest notice● Neutral
EARTHSTONE ENERGY INC director Robertson Monroe W Jr. exercised stock options for 3,574 shares and disposed of 1,895 shares.
17 June 2014director interest notice● Neutral
EARTHSTONE ENERGY INC director Rodgers Richard exercised stock options for 3,574 shares and disposed of 1,895 shares.
27 May 2014substantial holder notice● Neutral
Ray J. Singleton, Jr reported a EARTHSTONE ENERGY INC shareholding of 26.10% of votes in a periodic institutional filing.
27 May 2014substantial holder notice● Neutral
Oak Valley Resources, LLC disclosed a new substantial EARTHSTONE ENERGY INC shareholding (26.10% of votes).
13 Feb 2014quarterly activities report● Neutral
EARTHSTONE ENERGY INC reported quarterly revenue of $11.7 million and net income of $2.7 million for the period ended 2014-03-31.