3 June 2009director interest notice● Neutral
GMX RESOURCES INC CFO, Secretary & Treasurer Merrill James A received 50,000 shares as part of the equity award.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 June 2009director interest notice● Neutral
GMX RESOURCES INC director Craig Steven Charles received 10,146 shares as part of the equity award.
3 June 2009director interest notice● Neutral
GMX RESOURCES INC President Rohleder Michael J received 50,000 shares as part of the equity award.
3 June 2009director interest notice● Neutral
GMX RESOURCES INC director Boismier T J received 10,146 shares as part of the equity award.
3 June 2009director interest notice● Neutral
GMX RESOURCES INC Chief Executive Officer Ken L Jr. Kenworthy received 64,259 shares as part of the equity award.
3 June 2009director interest notice● Neutral
GMX RESOURCES INC Vice President - Land Gary D Jackson received 50,000 shares as part of the equity award.
3 June 2009director interest notice● Neutral
GMX RESOURCES INC director Mchugh Jon W received 10,146 shares as part of the equity award.
2 June 2009director interest notice● Neutral
GMX RESOURCES INC 10%+ owner Peter K Seldin sold 27,500 shares at $18.16.
18 May 2009material agreement▼ BadMajor
On May 13, 2009 GMX agreed to sell 5,000,000 new shares at $12.00 each, with net proceeds of about $56.8 million, and underwriters have an option for up to 750,000 more. Banks that lend under its revolving credit facility, or their affiliates, are underwriters and will receive a substantial portion of the proceeds through repayment of borrowings. The price compares with $70.50 in the July 2008 offering, so existing holders are diluted at a much lower price. The filing also updates the Jefferies share loans: 2,140,000 shares sold in February 2008, plus 600,000, 500,000 and 200,000 at-the-market shares loaned in February, March and June 2008.
15 May 2009director interest notice● Neutral
GMX RESOURCES INC EVP Corp. Dev., Inv. Relations Rohleder Michael J bought 20,840 shares on the open market at $12.00.
15 May 2009director interest notice● Neutral
GMX RESOURCES INC CEO and President Ken L Jr. Kenworthy bought 141,660 shares on the open market.
15 May 2009director interest notice● Neutral
GMX RESOURCES INC CFO, Secretary & Treasurer Merrill James A bought 4,170 shares on the open market.
14 May 2009securities registration● Neutral
GMX RESOURCES INC filed the final prospectus for a registered offering.
13 May 2009securities registration● Neutral
GMX RESOURCES INC filed a free-writing prospectus - marketing material for an offering in progress.
12 May 2009securities registration● Neutral
GMX RESOURCES INC filed a prospectus supplement for an offering off its existing shelf.
7 May 2009material agreement▼ BadMajor
On May 6, 2009 Prudential again amended the note agreement and waived a technical default at March 31, 2009 that came from another oil and gas write-down, with no amendment fee. It also amended the agreement so any fair-value election on debt is ignored in the covenant tests. The attached press release reports a Q1 2009 net loss of $124.4 million (versus net income of $6.2 million a year earlier) and says a new bank borrowing base decision is expected later in May and that the company is exploring a partner for its Endeavor Pipeline group. This repeats the December 2008 covenant problem.
27 Mar 2009securities registration● Neutral
GMX RESOURCES INC amended an already-effective registration statement.
2 Mar 2009material agreement▼ BadMajor
GMX amended its bank loan agreement so the non-cash effects of oil and gas write-downs are left out of the minimum net worth test. Prudential made similar changes and waived a technical default at December 31, 2008 caused by the write-down. The same filing reports a 2008 net loss of $81.7 million, versus 2007 net income of $16.9 million, including a $151.6 million impairment charge on oil and gas properties. Production rose 48% to 12.9 Bcfe, and the company began Haynesville/Bossier horizontal drilling in August 2008 and moved away from Cotton Valley Sand drilling in December 2008.
17 Feb 2009substantial holder notice● Neutral
Wellington Management Company, LLP disclosed a new substantial GMX RESOURCES INC shareholding (5.34% of votes).
17 Feb 2009substantial holder notice● Neutral
Morgan Stanley I.R.S. #, Morgan Stanley Investment Managemen reported a GMX RESOURCES INC shareholding of 1,274,544 shares (6.80% of votes) in a periodic institutional filing.
17 Feb 2009substantial holder notice● Neutral
JANA PARTNERS LLC reported no remaining GMX RESOURCES INC shareholding in its periodic institutional filing.
12 Feb 2009substantial holder notice● Neutral
Centennial Energy Partners, L.P, Centennial Energy Partners, L.L.C, Peter K. Seldin reported a GMX RESOURCES INC shareholding of 2,848,571 shares (15.11% of votes) in a periodic institutional filing.
5 Feb 2009substantial holder notice● Neutral
BARCLAYS GLOBAL INVESTORS, NA. and 1 other disclosed a new substantial GMX RESOURCES INC shareholding (3.14% of votes).
24 Dec 2008securities registration● Neutral
GMX RESOURCES INC filed a prospectus supplement covering resales by selling shareholders.
24 Dec 2008director interest notice● Neutral
GMX RESOURCES INC 10%+ owner Centennial Energy Partners LLC sold 36,393 shares.
12 Dec 2008securities registration● Neutral
GMX RESOURCES INC filed a prospectus supplement covering resales by selling shareholders.
19 Nov 2008director interest notice● Neutral
GMX RESOURCES INC EVP Corp Dev & Inv Relations Rohleder Michael J bought 465 shares on the open market at $19.15.
17 Nov 2008director interest notice● Neutral
GMX RESOURCES INC EVP Corp Dev & Inv Relations Rohleder Michael J bought 7,235 shares on the open market.
12 Nov 2008securities registration● Neutral
GMX RESOURCES INC filed a prospectus supplement covering resales by selling shareholders.
30 Oct 2008securities registration● Neutral
GMX RESOURCES INC filed a prospectus supplement covering resales by selling shareholders.