22 Nov 2010listing compliance notice▼ BadMajor
MARINER ENERGY INC terminated the registration of a class of securities, ending its reporting obligation for them.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 Nov 2010material agreement termination● Neutral
On November 10, 2010, as the Apache merger closed, Mariner repaid in full all outstanding advances under its March 2, 2006 credit agreement (Union Bank agent) and terminated it. This closes out the senior secured revolver listed in the company's debt; the filing does not give the amount repaid.
16 Nov 2010business combination● NeutralMajor
The Apache merger closed on November 10, 2010: Mariner merged into Apache Deepwater LLC and ceased to exist as a separate company. Mariner holders received a mix of cash and Apache shares (about 17.5 million Apache shares, about $800 million cash in total). Those who elected all cash got $26.00 per share; those who elected all stock, because stock was oversubscribed, got 0.198113 Apache shares plus $4.84 cash; others got $7.80 plus 0.17043 Apache shares. The filing also says the $300M 7.50%, $300M 8% and $300M 11.75% notes were taken on by the new issuers (Apache Deepwater LLC and Apache MEI Finance) with notice of redemption on December 13-14, 2010. Mariner stock was delisted from the NYSE on November 12, 2010, a Form 15 is intended to end reporting, and the rights plan rights were cancelled. This resolves the pending merger thread, the stockholder vote (adopted Nov 10) and the Rights Agreement thread. Option and restricted stock treatment matched the earlier terms: options converted to Apache options, 40% of performance-based restricted stock vested and the rest was cancelled.
12 Nov 2010listing compliance notice● NeutralMajor
MARINER ENERGY INC's exchange filed to remove a class of its securities from listing.
12 Nov 2010securities registration● Neutral
MARINER ENERGY INC amended its automatic shelf registration statement.
10 Nov 2010director interest notice● Neutral
MARINER ENERGY INC VP-Offshore Land & Bus Develop Charles H Odom disposed of 57,291 shares via option/appreciation-right settlement.
10 Nov 2010director interest notice● Neutral
MARINER ENERGY INC VP - Human Resources Emily R Mcclung disposed of 45,745 shares via option/appreciation-right settlement.
10 Nov 2010director interest notice● Neutral
MARINER ENERGY INC VP - Unconventional Resources Murray W Grigg disposed of 84,522 shares via option/appreciation-right settlement.
10 Nov 2010director interest notice● Neutral
MARINER ENERGY INC director Alan R Crain Jr. disposed of 35,497 shares via option/appreciation-right settlement.
10 Nov 2010director interest notice● Neutral
MARINER ENERGY INC Sr VP & Chief Expl. Officer Den Bold Mike C Van disposed of 372,879 shares via option/appreciation-right settlement.
10 Nov 2010director interest notice● Neutral
MARINER ENERGY INC VP-Reservoir Engineering Richard A Molohon disposed of 107,176 shares via option/appreciation-right settlement.
10 Nov 2010director interest notice● Neutral
MARINER ENERGY INC director John F Greene disposed of 44,807 shares via option/appreciation-right settlement.
10 Nov 2010director interest notice● Neutral
MARINER ENERGY INC director Laura A Sugg disposed of 9,677 shares via option/appreciation-right settlement.
10 Nov 2010director interest notice● Neutral
MARINER ENERGY INC Sr. VP-Shelf & Onshore Judd A Hansen disposed of 369,056 shares via option/appreciation-right settlement.
10 Nov 2010director interest notice● Neutral
MARINER ENERGY INC Sr. VP-Deepwater Cory L Loegering disposed of 295,471 shares via option/appreciation-right settlement.
10 Nov 2010director interest notice● Neutral
MARINER ENERGY INC Chairman, CEO and President Scott D Josey disposed of 1,386,813 shares via option/appreciation-right settlement.
10 Nov 2010director interest notice● Neutral
MARINER ENERGY INC Sr. VP, Gen. Cnsl. & Secretary Teresa G Bushman disposed of 273,967 shares via option/appreciation-right settlement.
10 Nov 2010director interest notice● Neutral
MARINER ENERGY INC director H Clayton Peterson disposed of 36,683 shares via option/appreciation-right settlement.
10 Nov 2010director interest notice● Neutral
MARINER ENERGY INC VP-Onshore Land Kenneth E Moore Jr. disposed of 78,585 shares via option/appreciation-right settlement.
10 Nov 2010director interest notice● Neutral
MARINER ENERGY INC VP & Chief Accounting Officer R. Cris Sherman disposed of 27,029 shares via option/appreciation-right settlement.
10 Nov 2010director interest notice● Neutral
MARINER ENERGY INC Sr VP Chief Com Ofr Acting CFO Jesus G Melendrez disposed of 310,929 shares via option/appreciation-right settlement.
10 Nov 2010director interest notice● Neutral
MARINER ENERGY INC director Jonathan J Ginns disposed of 60,082 shares via option/appreciation-right settlement.
10 Nov 2010director interest notice● Neutral
MARINER ENERGY INC Chief Operating Officer Dalton F Polasek disposed of 566,578 shares via option/appreciation-right settlement.
10 Nov 2010director interest notice● Neutral
MARINER ENERGY INC director Bernard W Aronson disposed of 68,170 shares via option/appreciation-right settlement.
10 Nov 2010director interest notice● Neutral
MARINER ENERGY INC VP-Acquisitions & Divestitures Michael C Mccullough disposed of 116,570 shares via option/appreciation-right settlement.
5 Nov 2010quarterly activities report● Neutral
MARINER ENERGY INC reported quarterly revenue of $210.7 million and net income of $1.8 million for the period ended 2010-09-30.
6 Oct 2010business combination● NeutralMajor
Mariner filed its definitive proxy statement/prospectus for the Apache merger, first mailed around October 13, 2010. It repeats the terms ($7.80 cash plus 0.17043 Apache share per Mariner share by default; $26.00 all-cash or 0.24347 all-stock elections, subject to proration), says Mariner holders would own about 5% of Apache, and states the board unanimously recommends a vote for. Approval needs a majority of outstanding shares, so not voting counts as a vote against. The Apache merger subsidiary ZMZ Acquisitions LLC is now named Apache Deepwater LLC.
4 Oct 2010director interest notice● Neutral
MARINER ENERGY INC VP - Unconventional Resources Murray W Grigg had 2,626 shares withheld for taxes on vesting stock.
1 Oct 2010business combination● Neutral
Mariner announced that the special stockholder meeting to vote on the Apache merger will be held November 10, 2010, with a record date of October 12, 2010. This moves the pending Apache deal toward its stockholder vote.
13 Sept 2010director interest notice● Neutral
MARINER ENERGY INC VP-Reservoir Engineering Richard A Molohon had 501 shares withheld for taxes on vesting stock.