6 Apr 2016agm notice● Neutral
GOODRICH PETROLEUM CORP announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
6 Apr 2016agm notice● Neutral
GOODRICH PETROLEUM CORP announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
1 Apr 2016material agreement▼ BadMajor
On March 28, 2016 Goodrich signed a Restructuring Support Agreement with certain holders of its second lien notes, as a fallback if its ongoing exchange offers for common stock fail. It commits to file a prepackaged Chapter 11 case by April 15, 2016, under which second lien noteholders would get 100% of the new equity in the reorganized company (diluted by a management plan of 9%) and $175 million of second lien notes face amount would be eliminated. The plan covers the common and all preferred stock, but the filing gives no stated recovery for them and says there is no assurance the restructuring will be completed. The term sheet gives equity to second lien holders only, so this is a warning for current shareholders, though not a final outcome.
31 Mar 2016agm notice● Neutral
GOODRICH PETROLEUM CORP announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
31 Mar 2016agm notice● Neutral
GOODRICH PETROLEUM CORP announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
16 Mar 2016late filing notice▼ Bad
GOODRICH PETROLEUM CORP notified the SEC that its annual report would be filed late.
14 Mar 2016agm notice● Neutral
GOODRICH PETROLEUM CORP announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
14 Mar 2016agm notice● Neutral
GOODRICH PETROLEUM CORP announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
9 Mar 2016agm notice● Neutral
GOODRICH PETROLEUM CORP announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
9 Mar 2016agm notice● Neutral
GOODRICH PETROLEUM CORP announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
16 Feb 2016agm notice● Neutral
GOODRICH PETROLEUM CORP announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
16 Feb 2016agm notice● Neutral
GOODRICH PETROLEUM CORP announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
12 Feb 2016agm notice● Neutral
GOODRICH PETROLEUM CORP shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
12 Feb 2016agm notice● Neutral
GOODRICH PETROLEUM CORP shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
10 Feb 2016substantial holder notice● Neutral
ALLIANZ GLOBAL INVESTORS U.S. HOLDINGS LLC &#, ALLIANZ GLOBAL INVESTORS U.S. LLC &# reported a GOODRICH PETROLEUM CORP shareholding of 3,900,000 shares (5.10% of votes) in a periodic institutional filing.
25 Jan 2016agm notice● Neutral
GOODRICH PETROLEUM CORP shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
25 Jan 2016agm notice● Neutral
GOODRICH PETROLEUM CORP shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
21 Jan 2016listing compliance notice● NeutralMajor
GOODRICH PETROLEUM CORP's exchange filed to remove a class of its securities from listing.
21 Jan 2016listing compliance notice● NeutralMajor
GOODRICH PETROLEUM CORP's exchange filed to remove a class of its securities from listing.
21 Jan 2016listing compliance notice● NeutralMajor
GOODRICH PETROLEUM CORP's exchange filed to remove a class of its securities from listing.
14 Jan 2016listing compliance notice▼ BadMajor
On January 13, 2016 the NYSE began delisting proceedings against Goodrich's common stock because of its abnormally low price and suspended trading; the company said it will not appeal. The stock began trading on the OTC Markets on January 14, 2016 under GDPM, and the Series C and D preferred were also suspended. This follows the August 2015 NYSE non-compliance notice, which it did not cure. The company says operations are unaffected and it stays an SEC reporting company, but it gives no assurance of continued OTC quotes or adequate trading volume.
23 Dec 2015capital raising announcement● NeutralMajor
On December 18, 2015 Goodrich closed its offer to swap Series B, C and D preferred stock for a new 10.00% Series E convertible preferred stock, issuing 3,648,803 Series E depositary shares for 758,434 Series B shares and 1,274,932 Series C and 1,463,759 Series D depositary shares. Series E converts into common at an initial $2.00 per share, and the company can force conversion if the stock closes at $3.00 or more for 20 of 30 trading days. Holders have limited voting rights. Preferred holders who tendered gave up their old preferred for convertible stock, while those who did not tender keep their old series.
6 Nov 2015quarterly activities report▼ Bad
GOODRICH PETROLEUM CORP reported quarterly revenue of $17.7 million and a net loss of $17.8 million for the period ended 2015-09-30.
4 Nov 2015quarterly activities report▼ Bad
GOODRICH PETROLEUM CORP reported quarterly revenue of $17.7 million and a net loss of $17.8 million for the period ended 2015-09-30.
21 Oct 2015securities registration● Neutral
GOODRICH PETROLEUM CORP filed notice of an exempt private placement.
9 Oct 2015substantial holder notice● Neutral
ALLIANZ GLOBAL INVESTORS U.S. HOLDINGS LLC &#, ALLIANZ GLOBAL INVESTORS U.S. LLC &# disclosed a new substantial GOODRICH PETROLEUM CORP shareholding (16.20% of votes).
9 Oct 2015substantial holder notice● Neutral
ALLIANZ GLOBAL INVESTORS U.S. HOLDINGS LLC &#, ALLIANZ GLOBAL INVESTORS U.S. LLC &# disclosed a new substantial GOODRICH PETROLEUM CORP shareholding (16.20% of votes).
8 Oct 2015securities registration● Neutral
GOODRICH PETROLEUM CORP filed notice of an exempt private placement.
8 Oct 2015capital raising announcement● Neutral
On October 7, 2015 Goodrich agreed to swap about $17.1 million of its old 5.00% convertible notes due 2032 for about $8.5 million of new 5.00% convertible exchange notes due 2032, closing expected October 14, 2015. This is a second round of the September swap; about $94.2 million of old notes would remain and about $36 million of new notes would be outstanding. The press release gives the same terms as the earlier new notes, including the company's right to force conversion if the stock exceeds $2.50.
2 Oct 2015capital raising announcement● NeutralMajor
On October 1, 2015 Goodrich closed the senior note swaps announced September 24: $76.5 million (for units with warrants) and about $81.7 million (for about $36.8 million of new notes) of 8.875% senior notes due 2019 were retired for new 8.875% second lien notes due 2018 issued under a U.S. Bank indenture. On the same day it signed a Fourteenth Amendment cutting the bank borrowing base to $75 million, allowing up to $50 million of third lien debt, and requiring mortgages on all proved-reserve properties, and amended the 8.00% second lien indenture to permit the swaps, third lien debt and up to $25 million of preferred stock payments. The new notes accelerate to September 1, 2017 if more than $25 million of 2032 convertibles remain on August 1, 2017. This completes the September 24 deal; the bank revolver was not paid off (the earlier plan) but remains with a $75 million borrowing base.