16 Oct 2009director interest notice● Neutral
MARINER ENERGY INC VP-Reservoir Engineering Richard A Molohon sold 5,700 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
14 Sept 2009director interest notice● Neutral
MARINER ENERGY INC VP-Reservoir Engineering Richard A Molohon had 501 shares withheld for taxes on vesting stock.
27 Aug 2009debt financing● Neutral
Mariner amended its bank credit agreement again (Amendment No. 10, Aug 25, 2009) so it can set up a wholly-owned British Columbia subsidiary to do business in Canada, with Mariner's investment in it capped at $25 million. The Canadian subsidiary does not have to guarantee the bank debt, and Mariner's equity pledge in it can be limited to 65%. Separately, Senior VP and Chief Exploration Officer Mike van den Bold adopted a plan to sell up to 51,923 of his 337,022 shares through December 1, 2010.
10 Aug 2009quarterly activities report● Neutral
MARINER ENERGY INC reported quarterly revenue of $232.0 million and net income of $17.2 million for the period ended 2009-06-30.
7 Aug 2009quarterly activities report● Neutral
MARINER ENERGY INC reported quarterly revenue of $232.0 million and net income of $17.2 million for the period ended 2009-06-30.
16 June 2009debt financing● NeutralMajor
On June 10, 2009 Mariner completed the offerings: it issued $300 million of 11.75% senior notes due June 30, 2016 (about $284.8 million net) and 11.5 million new common shares at $14.50 (about $159.2 million net, including the 1.5 million over-allotment shares). All of the roughly $446.2 million of proceeds, before expenses, went to repay bank credit facility debt. The notes are unsecured, rank equally with the existing 7 1/2% 2013 and 8% 2017 notes, and are guaranteed by domestic subsidiaries. The share sale dilutes existing holders.
9 June 2009material agreement● NeutralMajor
On June 4, 2009 Mariner signed underwriting agreements for two offerings at the same time: 10 million common shares at $13.8852635 per share to the underwriters (about $138.3 million estimated net) and $300 million of 11.75% senior notes due 2016 (about $284.8 million estimated net, initial yield 12.375%). The proceeds are to repay bank credit facility debt. Shareholders face dilution from the new shares, and the underwriters have an option for 1.5 million more. This follows the June 2 credit amendment that allowed the new debt and the June 2 shelf registration.
5 June 2009securities registration● Neutral
MARINER ENERGY INC filed a free-writing prospectus - marketing material for an offering in progress.
5 June 2009securities registration● Neutral
MARINER ENERGY INC filed a prospectus supplement for an offering off its existing shelf.
5 June 2009securities registration● Neutral
MARINER ENERGY INC filed a prospectus supplement for an offering off its existing shelf.
5 June 2009securities registration● Neutral
MARINER ENERGY INC filed a free-writing prospectus - marketing material for an offering in progress.
5 June 2009securities registration● Neutral
MARINER ENERGY INC filed a free-writing prospectus - marketing material for an offering in progress.
5 June 2009securities registration● Neutral
MARINER ENERGY INC filed a free-writing prospectus - marketing material for an offering in progress.
3 June 2009securities registration● Neutral
MARINER ENERGY INC filed the final prospectus for a registered offering.
3 June 2009securities registration● Neutral
MARINER ENERGY INC filed a free-writing prospectus - marketing material for an offering in progress.
3 June 2009securities registration● Neutral
MARINER ENERGY INC filed the final prospectus for a registered offering.
2 June 2009debt financing● NeutralMajor
Mariner amended its bank credit facility (Amendment No. 9, June 2, 2009) to allow it to issue up to $300 million of new unsecured debt before July 1, 2009, at up to 13% interest and maturing no earlier than May 15, 2014. If such debt is issued, the bank borrowing base drops by the lesser of $50 million or 25% of the new debt. Separately, Mariner said it chose not to renew its extra commercial hurricane/physical damage insurance that expired June 1, 2009, because the 2009 market offering did not give similar coverage, and it believes its assets are sufficiently insured through OIL Insurance.
2 June 2009securities registration● Neutral
MARINER ENERGY INC filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
26 May 2009director interest notice● Neutral
MARINER ENERGY INC VP-Reservoir Engineering Richard A Molohon had 1,321 shares withheld for taxes on vesting stock.
19 May 2009director interest notice● Neutral
MARINER ENERGY INC director Jonathan J Ginns received 11,169 shares as part of the equity award.
14 May 2009director interest notice● Neutral
MARINER ENERGY INC Sr. VP, CFO & Treasurer John H Karnes Jr. received 28,067 shares as part of the equity award.
13 May 2009director interest notice● Neutral
MARINER ENERGY INC Chairman, CEO and President Scott D Josey received 116,279 shares as part of the equity award.
13 May 2009director interest notice● Neutral
MARINER ENERGY INC VP-Reservoir Engineering Richard A Molohon received 14,034 shares as part of the equity award.
13 May 2009director interest notice● Neutral
MARINER ENERGY INC director Bernard W Aronson received 11,169 shares as part of the equity award.
13 May 2009director interest notice● Neutral
MARINER ENERGY INC VP-Onshore Land Kenneth E Moore Jr. received 10,024 shares as part of the equity award.
13 May 2009director interest notice● Neutral
MARINER ENERGY INC VP-Acquisitions & Divestitures Michael C Mccullough received 12,029 shares as part of the equity award.
13 May 2009director interest notice● Neutral
MARINER ENERGY INC Sr. VP, Gen. Cnsl. & Secretary Teresa G Bushman received 28,067 shares as part of the equity award.
13 May 2009director interest notice● Neutral
MARINER ENERGY INC Sr. VP-Corporate Development Jesus G Melendrez received 28,067 shares as part of the equity award.
13 May 2009director interest notice● Neutral
MARINER ENERGY INC Sr. VP-Shelf & Onshore Judd A Hansen received 36,087 shares as part of the equity award.
13 May 2009director interest notice● Neutral
MARINER ENERGY INC director Alan R Crain Jr. received 11,169 shares as part of the equity award.