Past year: ▲ 12953%(0.21c – 7.65 USD)
Each one in plain English, with the numbers worked through for a shareholder.
16 Nov 2009debt financing● NeutralMajor
The partnership consolidated its borrowings into a single $350 million reserve-based facility led by Royal Bank of Scotland, maturing in 2012. Reserve-based means the banks re-test the collateral twice a year - which is how a gas producer with falling prices loses its credit without missing a payment.
8 May 2009substantial holder notice● Neutral
Brett S. Messing reported a Evolve Transition Infrastructure LP shareholding of 862,831 shares (3.93% of votes) in a periodic institutional filing.
4 May 2009director officer appointment● NeutralMajor
The partnership signed direct employment agreements with its four senior executives - chief executive Stephen Brunner, finance chief Charles Ward, general counsel Lisa Mellencamp and controller Michael Hiney - through its own services subsidiary. With the sponsor's future uncertain, the partnership was making its management its own rather than borrowed.
17 Feb 2009substantial holder notice● Neutral
Morgan Stanley I.R.S. #, Morgan Stanley Strategic Investment reported a Evolve Transition Infrastructure LP shareholding of 315,450 shares (1.40% of votes) in a periodic institutional filing.
29 Jan 2009substantial holder notice● Neutral
Barclays PLC reported a Evolve Transition Infrastructure LP shareholding of 1,106,185 shares (5.04% of votes) in a periodic institutional filing.
29 Jan 2009substantial holder notice● Neutral
Barclays PLC reported a Evolve Transition Infrastructure LP shareholding of 1,084,385 shares (4.94% of votes) in a periodic institutional filing.
9 Jan 2009substantial holder notice● Neutral
Brett S. Messing reported a Evolve Transition Infrastructure LP shareholding of 1,778,732 shares (8.10% of votes) in a periodic institutional filing.
18 Dec 2008business combination● Neutral
The partnership reaffirmed its 2008 forecast and set out a 2009 plan, an attempt to steady unitholders after a quarter in which its sponsor's ownership had been thrown open and gas prices had collapsed.
24 Sept 2008substantial holder notice● Neutral
Morgan Stanley I.R.S. #, Morgan Stanley Strategic Investment disclosed a new substantial Evolve Transition Infrastructure LP shareholding (5.10% of votes).
23 Sept 2008business combination▼ BadMajor
The partnership's sponsor, Constellation Energy Group, agreed to be taken over by MidAmerican in the middle of the 2008 financial crisis, and had to publicly reaffirm that it would keep providing management services. When a managed partnership's manager is itself in play, its stability is no longer its own to guarantee.
13 Aug 2008director interest notice● Neutral
Evolve Transition Infrastructure LP director Richard H Bachmann bought 1,000 shares on the open market at $14.14.
9 July 2008substantial holder notice● Neutral
Brett S. Messing disclosed a new substantial Evolve Transition Infrastructure LP shareholding (13.39% of votes).
3 Apr 2008asset acquisition disposition● NeutralMajor
The CoLa acquisition closed, funded by drawing on the credit facility. The partnership now holds coalbed methane in Alabama's Robinson's Bend field, gas in the Cherokee Basin, and this new Woodford position - all bought with borrowed money against a fixed distribution.
19 Mar 2008director interest notice● Neutral
Charles C Ward became a Evolve Transition Infrastructure LP CFO and Treasurer and company insider (initial ownership filing).
4 Mar 2008director interest notice● Neutral
Evolve Transition Infrastructure LP director Richard S Langdon received 3,668 shares as part of the equity award.
4 Mar 2008director interest notice● Neutral
Evolve Transition Infrastructure LP director Richard H Bachmann received 3,668 shares as part of the equity award.
4 Mar 2008director interest notice● Neutral
Evolve Transition Infrastructure LP director John N Seitz received 3,668 shares as part of the equity award.
25 Feb 2008material agreement▲ GoodMajor
Then called Constellation Energy Partners, the partnership agreed to pay CoLa Resources about $53.4 million for interests in 83 non-operated Woodford Shale wells in Oklahoma, adding 13.1 billion cubic feet of proved producing gas reserves. A yield vehicle buying producing assets to support its distribution - the model it followed until gas prices broke it.
15 Feb 2008substantial holder notice● Neutral
LaBranche Structured Products LLC disclosed a new substantial Evolve Transition Infrastructure LP shareholding (6.10% of votes).
14 Feb 2008substantial holder notice● Neutral
SWANK CAPITAL, LLC, SWANK ENERGY INCOME ADVISORS, LP, JERRY V. SWANK disclosed a new substantial Evolve Transition Infrastructure LP shareholding (5.92% of votes).
13 Feb 2008substantial holder notice● Neutral
Lehman Brothers Holdings Inc, Lehman Brothers Inc, LB I Group Inc, Lehman Brothers MLP Opportunity Associates LLC, Lehman Brothers MLP Opportunity Associates LP, Lehman Brothers MLP Opportunity Fund LP, Lehman Brothers MLP Associates, L.P, Lehman Brothers MLP Partners, LP reported a Evolve Transition Infrastructure LP shareholding of 1,888,990 shares (8.60% of votes) in a periodic institutional filing.
