21 Oct 2016director interest notice● Neutral
Kenneth Adam Leight became a GOODRICH PETROLEUM CORP director and company insider (initial ownership filing).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
14 Oct 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP VP, Controller & Interim CFO Robert T Barker received 4,915 shares as part of the equity award.
14 Oct 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP President & COO Robert C Turnham Jr. received 273,098 shares as part of the equity award.
14 Oct 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP Executive Vice President Mark E Ferchau received 81,928 shares as part of the equity award.
14 Oct 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP SVP, Gen. Counsel, Corp. Sec'y Michael J Killelea received 63,723 shares as part of the equity award.
14 Oct 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP Chairman and CEO Walter G Goodrich received 273,098 shares as part of the equity award.
11 Oct 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP director Josiah T Austin sold 330,231 shares.
3 Oct 2016bankruptcy or receivership▼ BadMajor
The Bankruptcy Court confirmed Goodrich's reorganization plan on September 28, 2016. Second lien noteholders get 98% of the new common stock, unsecured noteholders and general unsecured creditors share 2% plus warrants, and the first lien lenders are refinanced into a $20 million exit facility. Existing common and preferred stockholders receive no recovery, and their shares are cancelled on the plan's effective date, which the company targets within about 15 days but does not guarantee. The $40 million exit convertible notes from the July commitment are part of the plan. Walter Goodrich and Robert Turnham stay on a seven-member new board.
16 Sept 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP Chairman and CEO Walter G Goodrich sold 445,374 shares.
16 Sept 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP Chairman and CEO Walter G Goodrich sold 403,086 shares.
8 Sept 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP VP, Controller, Interim CFO Robert T Barker converted derivative holdings into 10,000 shares and disposed of 10,000.
1 Sept 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP Chairman and CEO Walter G Goodrich sold 373,282 shares.
12 Aug 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP President & COO Robert C Turnham Jr. sold 86,652 shares.
12 Aug 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP director Michael J Perdue sold 100,000 shares.
8 Aug 2016quarterly activities report▼ Bad
GOODRICH PETROLEUM CORP reported quarterly revenue of $6.3 million and a net loss of $5.2 million for the period ended 2016-06-30.
29 July 2016material agreement● NeutralMajor
On July 25, 2016 Goodrich signed a commitment letter with Shenkman, CVC, J.P. Morgan Securities and Franklin to provide $40 million of exit financing: convertible second lien notes at 13.5% interest, convertible into 15% of the reorganized company's common stock. The lenders would also get 10-year costless warrants for 20% of the reorganized common stock, a second lien on all assets and the right to appoint two directors. It needs Bankruptcy Court approval and has conditions, so it is not yet certain. This is a new financing path after the RSA ended, and it would dilute whoever holds the new stock.
14 July 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP Executive Vice President Mark E Ferchau sold 63,754 shares at $0.04.
14 July 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP President & COO Robert C Turnham Jr. sold 46,250 shares.
30 June 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP VP, Controller, Interim CFO Robert T Barker sold 23,711 shares at $0.03.
26 May 2016material agreement termination▼ BadMajor
The Restructuring Support Agreement with second lien noteholders terminated automatically on May 21, 2016 because the Bankruptcy Court had not entered an order approving it within 35 days of the April 15 filing. The company says it will keep negotiating with its secured and unsecured debt holders on restructuring its debt, so the Chapter 11 case continues without the agreed deal.
25 May 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP President & COO Robert C Turnham Jr. sold 69,075 shares.
24 May 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP SVP, Gen. Counsel, Corp. Sec'y Michael J Killelea sold 76,600 shares.
19 May 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP director Arthur A Seeligson sold 105,402 shares at $0.02.
17 May 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP President & COO Robert C Turnham Jr. sold 185,508 shares.
16 May 2016quarterly activities report▼ Bad
GOODRICH PETROLEUM CORP reported quarterly revenue of $6.2 million and a net loss of $18.7 million for the period ended 2016-03-31.
12 May 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP Executive Vice President Mark E Ferchau sold 177,901 shares.
12 May 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP SVP, Gen. Counsel, Corp. Sec'y Michael J Killelea sold 67,217 shares at $0.03.
11 May 2016late filing notice▼ Bad
GOODRICH PETROLEUM CORP notified the SEC that its quarterly report would be filed late.
9 May 2016director interest notice● Neutral
GOODRICH PETROLEUM CORP President & COO Robert C Turnham Jr. sold 211,295 shares.
15 Apr 2016bankruptcy or receivership▼ BadMajor
Goodrich and its subsidiary filed voluntary Chapter 11 petitions on April 15, 2016 in the Southern District of Texas, the prepackaged case the March 28 Restructuring Support Agreement had set as the fallback. The filing says the exchange offers failed for lack of approval from common holders, preferred holders and unsecured noteholders. The filing triggered default and acceleration of the credit agreement and all listed notes, but enforcement is stayed. The company says the plan would eliminate about $400 million of debt, leaving only the first lien loan (about $40 million outstanding). It says it expects to keep operating and pay royalties. The filing gives no recovery for common or preferred holders; the earlier RSA terms gave all new equity to second lien holders.