6 Dec 2013securities registration● Neutral
LEGACY RESERVES LP filed the final prospectus for a registered offering.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
4 Dec 2013business combination● Neutral
On Dec 4, 2013 Legacy filed Amendment No. 1 to its S-4 for the exchange of the $300 million 8% Senior Notes due 2020, with the same terms as the October filing. The visible changes are an updated document list that adds the Q3 2013 10-Q (filed Nov 6, 2013) and a 2014 expiry year for the offer. The exchange is still not finished; the amendment alone does not show when it will complete.
6 Nov 2013quarterly activities report▼ Bad
LEGACY RESERVES LP reported quarterly revenue of $136.2 million and a net loss of $3.4 million for the period ended 2013-09-30.
5 Nov 2013quarterly activities report▼ Bad
LEGACY RESERVES LP reported quarterly revenue of $136.2 million and a net loss of $3.4 million for the period ended 2013-09-30.
11 Oct 2013business combination● Neutral
Legacy filed a registration statement (Form S-4) on Oct 11, 2013 to let holders swap the $300 million of 8% Senior Notes due 2020 issued in December 2012 for identical notes registered with the SEC and freely tradable. This fulfils the registration commitment on those notes; the terms are identical apart from the transfer restrictions and additional-interest provisions, and the exchange is not a taxable event. It adds no new money.
26 Sept 2013director interest notice● Neutral
LEGACY RESERVES LP EVP and CFO James Daniel Westcott had 1,914 shares withheld for taxes on vesting stock.
7 Aug 2013quarterly activities report● Neutral
LEGACY RESERVES LP reported quarterly revenue of $118.4 million and net income of $21.8 million for the period ended 2013-06-30.
6 Aug 2013quarterly activities report● Neutral
LEGACY RESERVES LP reported quarterly revenue of $118.4 million and net income of $21.8 million for the period ended 2013-06-30.
21 June 2013director interest notice● Neutral
LEGACY RESERVES LP director Dale A Brown gifted 100,000 shares.
11 June 2013director interest notice● Neutral
LEGACY RESERVES LP VP-Finance and Treasurer James R Lawrence exercised stock options for 3,000 shares and disposed of 3,000 shares.
11 June 2013director interest notice● Neutral
LEGACY RESERVES LP CAO and Controller Micah C. Foster exercised stock options for 3,333 shares and disposed of 6,666 shares.
5 June 2013director interest notice● Neutral
LEGACY RESERVES LP director G Larry Lawrence sold 5,000 shares at $26.44.
31 May 2013debt financing● Neutral
On May 28, 2013 Legacy completed the $250 million 6.625% Senior Notes due Dec 1, 2021 under an indenture with Wells Fargo as trustee, with interest paid each June 1 and Dec 1 starting Dec 1, 2013. The notes are callable at set prices, with a make-whole premium before June 1, 2017, and carry covenants limiting distributions, asset sales and additional debt. Legacy also agreed to register an exchange offer for the notes within 400 days of issuance.
24 May 2013debt financing● NeutralMajor
On May 22, 2013 Legacy agreed to sell $250 million of 6.625% Senior Notes due 2021 at 98.405% of face, for about $240.6 million of net proceeds. The money is for general partnership purposes including potential future acquisitions, and meanwhile will pay down the revolving credit facility. This is a second notes issue after the $300 million 8% notes of Dec 2012.
20 May 2013director interest notice● Neutral
LEGACY RESERVES LP VP-Finance and Treasurer James R Lawrence received 3,870 shares as part of the equity award.
17 May 2013material agreement● Neutral
A Fifth Amendment to the credit agreement, effective May 15, 2013, raised the amount of senior notes Legacy may have outstanding from $500 million to $750 million and raised the permitted investments basket from $4 million to $20 million. Lenders also waived the interest rate hedging covenant for existing swaps. The higher note cap leaves room for more bond issuance, which the next filing shows (inference).
15 May 2013director interest notice● Neutral
LEGACY RESERVES LP director Kyle D Vann received 3,715 shares as part of the equity award.
15 May 2013director interest notice● Neutral
LEGACY RESERVES LP director William D Sullivan received 3,715 shares as part of the equity award.
15 May 2013director interest notice● Neutral
LEGACY RESERVES LP director William R Granberry received 3,715 shares as part of the equity award.
15 May 2013director interest notice● Neutral
LEGACY RESERVES LP director G Larry Lawrence received 3,715 shares as part of the equity award.
15 May 2013director interest notice● Neutral
LEGACY RESERVES LP director Dale A Brown received 3,715 shares as part of the equity award.
8 May 2013quarterly activities report▼ Bad
LEGACY RESERVES LP reported quarterly revenue of $108.9 million and a net loss of $6.7 million for the period ended 2013-03-31.
6 May 2013quarterly activities report▼ Bad
LEGACY RESERVES LP reported quarterly revenue of $108.9 million and a net loss of $6.7 million for the period ended 2013-03-31.
11 Mar 2013director interest notice● Neutral
LEGACY RESERVES LP VP, GC and Secretary Dan G. Leroy received a stock option grant for 7,064 shares.
11 Mar 2013director interest notice● Neutral
LEGACY RESERVES LP CAO and Controller Micah C. Foster received a stock option grant for 5,528 shares.
11 Mar 2013director interest notice● Neutral
LEGACY RESERVES LP EVP and CDO Kyle A Mcgraw received a stock option grant for 21,498 shares.
11 Mar 2013director interest notice● Neutral
LEGACY RESERVES LP EVP and CFO James Daniel Westcott received a stock option grant for 16,891 shares.
11 Mar 2013director interest notice● Neutral
LEGACY RESERVES LP EVP and COO Paul T Horne received a stock option grant for 21,498 shares.
11 Mar 2013director interest notice● Neutral
LEGACY RESERVES LP Chairman, President and CEO Cary D Brown received a stock option grant for 50,674 shares.
20 Feb 2013director interest notice● Neutral
LEGACY RESERVES LP EVP and COO Paul T Horne exercised stock options for 5,847 shares and disposed of 11,694 shares.