18 Dec 2009director interest notice● Neutral
GMX RESOURCES INC Vice President of Land Gary D Jackson had 858 shares withheld for taxes on vesting stock.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
18 Dec 2009director interest notice● Neutral
GMX RESOURCES INC CFO, Secretary & Treasurer Merrill James A disposed of 863 shares via option/appreciation-right settlement.
18 Dec 2009director interest notice● Neutral
GMX RESOURCES INC Vice President of Operations Hart Richard Jr. had 429 shares withheld for taxes on vesting stock.
15 Dec 2009listing compliance notice▲ GoodMajor
the New York Stock Exchange certified GMX RESOURCES INC's securities for listing, clearing them to begin trading.
14 Dec 2009listing compliance notice▼ BadMajor
GMX RESOURCES INC's securities were notified for removal from listing and registration on its exchange.
14 Dec 2009listing compliance notice▼ BadMajor
GMX RESOURCES INC's securities were notified for removal from listing and registration on its exchange.
14 Dec 2009listing compliance notice▼ BadMajor
GMX RESOURCES INC's securities were notified for removal from listing and registration on its exchange.
3 Dec 2009auditor change● Neutral
GMX dismissed its auditor Smith, Carney & Co. and appointed Grant Thornton LLP on Nov 30, 2009. The filing says Smith Carney's 2007 and 2008 reports were clean and there were no disagreements. GMX also told NASDAQ it will move its stock listing to the NYSE, with trading expected around Dec 16, 2009 under the same symbol GMXR.
12 Nov 2009director interest notice● Neutral
Harry C Jr. Stahel became a GMX RESOURCES INC Vice President - Finance and company insider (initial ownership filing).
5 Nov 2009asset acquisition disposition● NeutralMajor
The Kinder Morgan deal announced Oct 16 closed effective Nov 1, 2009: GMX moved its gas gathering assets into Endeavor Gathering LLC and sold 40% to Kinder Morgan Endeavor for $36 million, keeping 60%. Kinder Morgan receives 80% of cash distributions until it recovers its purchase price plus any other capital it contributes. GMX dedicated its Harrison and Panola County production to the system and owes shortfall payments if minimum volumes are not met. The press release says the deal provides liquidity to add a rig.
28 Oct 2009debt financing● NeutralMajor
On Oct 22-28, 2009 GMX sold 6,950,000 common shares at $15.00 (net about $98.8M) and $86.25M of 4.50% convertible senior notes due May 1, 2015 (net about $82.6M, conversion price about $18.75, including the exercised over-allotment). The filing says Capital One received part of the proceeds through repayment of the bank revolver. The Prudential repayment condition from the Oct 17-18 amendments is a likely use of proceeds (inference; the visible text does not show it). This adds new shares and new debt, following the May 2009 offering. The share loan to the Jefferies affiliate now stands at 3,140,000 shares.
27 Oct 2009substantial holder notice● Neutral
Centennial Energy Partners, L.P, Centennial Energy Partners, L.L.C, Peter K. Seldin disclosed a new substantial GMX RESOURCES INC shareholding (8.06% of votes).
26 Oct 2009securities registration● Neutral
GMX RESOURCES INC filed the final prospectus for a registered offering.
26 Oct 2009securities registration● Neutral
GMX RESOURCES INC filed the final prospectus for a registered offering.
23 Oct 2009securities registration● Neutral
GMX RESOURCES INC filed a free-writing prospectus - marketing material for an offering in progress.
23 Oct 2009securities registration● Neutral
GMX RESOURCES INC filed a free-writing prospectus - marketing material for an offering in progress.
20 Oct 2009securities registration● Neutral
GMX RESOURCES INC filed a free-writing prospectus - marketing material for an offering in progress.
20 Oct 2009material agreement● NeutralMajor
GMX signed a Fifth Amendment with its bank lenders (effective Oct 17, 2009) allowing the Kinder Morgan gathering deal and a new offering of unsecured convertible notes due 2015, removing the minimum net worth covenant that had needed repeated waivers, and waiving a debt-to-EBITDA default for Aug 31 and Sept 30, 2009. The borrowing base falls from $175 million to $140 million when the gathering deal closes. A separate Prudential amendment lets the new notes be sold only if the proceeds fully repay Prudential's notes.
19 Oct 2009material agreement● NeutralMajor
On October 16, 2009 GMX agreed to sell a 40% stake in a new gas gathering company, Endeavor Gathering LLC, to Kinder Morgan Endeavor LLC for $36 million, keeping 60%. This follows the May 2009 statement that it was exploring a partner for its Endeavor Pipeline group. Kinder Morgan gets 80% of cash distributions until it recovers its investment, then 40%. GMX also committed to activate a second drilling rig and keep at least two rigs drilling in Harrison and Panola Counties for three years. Closing, expected in early November 2009, needs secured lender consents and lien releases.
19 Oct 2009securities registration● Neutral
GMX RESOURCES INC filed a free-writing prospectus - marketing material for an offering in progress.
19 Oct 2009securities registration● Neutral
GMX RESOURCES INC filed a prospectus supplement for an offering off its existing shelf.
19 Oct 2009securities registration● Neutral
GMX RESOURCES INC filed a prospectus supplement for an offering off its existing shelf.
23 Sept 2009director interest notice● Neutral
GMX RESOURCES INC Vice President of Operations Hart Richard Jr. sold 32,500 shares.
22 Sept 2009director interest notice● Neutral
GMX RESOURCES INC Vice President of Operations Hart Richard Jr. sold 32,500 shares.
18 Aug 2009director interest notice● Neutral
GMX RESOURCES INC insider Peter K Seldin sold 70,000 shares at $11.50.
25 June 2009director interest notice● Neutral
GMX RESOURCES INC 10%+ owner Peter K Seldin sold 300,000 shares.
10 June 2009substantial holder notice● Neutral
Morgan Stanley I.R.S. #, Morgan Stanley Investment Managemen reported a GMX RESOURCES INC shareholding of 2,417,843 shares (10.10% of votes) in a periodic institutional filing.
3 June 2009director interest notice● Neutral
GMX RESOURCES INC director Ken L Sr Kenworthy received 10,146 shares as part of the equity award.
3 June 2009director interest notice● Neutral
Benton Timothy L became a GMX RESOURCES INC Vice President Geosciences and company insider (initial ownership filing).
3 June 2009director interest notice● Neutral
GMX RESOURCES INC Vice President of Operations Hart Richard Jr. received 50,000 shares as part of the equity award.