5 Nov 2015quarterly activities report▼ Bad
Pressburg, LLC reported quarterly revenue of $839.4 million and a net loss of $1569.3 million for the period ended 2015-09-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 Nov 2015quarterly activities report▼ Bad
Pressburg, LLC reported quarterly revenue of $839.4 million and a net loss of $1569.3 million for the period ended 2015-09-30.
27 Oct 2015quarterly activities report▼ Bad
Pressburg, LLC reported quarterly revenue of $839.4 million and a net loss of $1569.3 million for the period ended 2015-09-30.
22 Oct 2015debt financing▼ BadMajor
Reaffirmed its borrowing base at $4.05 billion, but it would drop automatically to $3.6 billion on January 1, 2016 unless it issued at least $250 million of junior lien debt and completed the Berry consolidation steps. Berry's own borrowing base was cut from $1.2 billion to $900 million.
30 July 2015quarterly activities report▼ Bad
Pressburg, LLC reported quarterly revenue of $177.1 million and a net loss of $379.1 million for the period ended 2015-06-30.
30 July 2015quarterly activities report▼ Bad
Pressburg, LLC reported quarterly revenue of $177.1 million and a net loss of $379.1 million for the period ended 2015-06-30.
9 July 2015material agreement▼ BadMajor
Agreed to sell its remaining Howard County, Permian Basin position for about $281 million, continuing to shed assets to shore up liquidity as commodity prices fell.
7 July 2015material agreement● NeutralMajor
Brought in Quantum Energy Partners as a $1 billion equity-commitment partner in a new joint drilling vehicle (QL Energy I, LLC), giving Linn an off-balance-sheet way to fund development without further diluting unitholders or adding balance-sheet debt -- a sign it was already managing capital more defensively.
21 May 2015material agreement▼ BadMajor
Sold 16 million units at $11.79 -- roughly a third of the $35-38 prices Linn commanded in 2011-12 -- the collapsing oil price was now visibly hitting its cost of equity capital.
20 May 2015securities registration● Neutral
Pressburg, LLC filed a prospectus supplement for an offering off its existing shelf.
18 May 2015securities registration● Neutral
Pressburg, LLC filed the final prospectus for a registered offering.
15 May 2015debt financing▼ Bad
Had its borrowing base reduced to $4.05 billion in a scheduled redetermination, and loosened restrictions on how much it could invest in the former Berry Petroleum subsidiary -- the first hint of the tightening credit conditions that would soon force a full restructuring.
29 Apr 2015quarterly activities report▼ Bad
Pressburg, LLC reported quarterly revenue of $767.0 million and a net loss of $339.2 million for the period ended 2015-03-31.
29 Apr 2015quarterly activities report▼ Bad
Pressburg, LLC reported quarterly revenue of $767.0 million and a net loss of $339.2 million for the period ended 2015-03-31.
20 Feb 2015securities registration● Neutral
Pressburg, LLC filed a prospectus supplement for an offering off its existing shelf.
20 Feb 2015material agreement● Neutral
Renewed its at-the-market equity program at up to $500 million with an expanded bank group -- routine continuation of its standing capital-markets tools.
19 Feb 2015quarterly activities report▼ Bad
Pressburg, LLC reported quarterly revenue of $2217.7 million and a net loss of $154.5 million for the period ended 2014-12-31.
18 Dec 2014asset acquisition disposition▲ GoodMajor
Closed the Granite Wash/Cleveland sale for roughly $1.8 billion, using proceeds to fully repay its $1.3 billion term loan and cut revolver borrowings -- deleveraging just as oil prices began falling.
4 Nov 2014quarterly activities report▼ Bad
Pressburg, LLC reported quarterly revenue of $1435.1 million and a net loss of $4.1 million for the period ended 2014-09-30.
4 Nov 2014quarterly activities report▼ Bad
Pressburg, LLC reported quarterly revenue of $1435.1 million and a net loss of $4.1 million for the period ended 2014-09-30.
6 Oct 2014material agreement● NeutralMajor
Agreed to sell its entire Granite Wash and Cleveland-play position in the Texas Panhandle and western Oklahoma to EnerVest and FourPoint Energy for $1.95 billion -- a major divestiture even as the Devon deal was still being digested, an early sign of portfolio-pruning ahead of the 2015 oil price crash.
23 Sept 2014material agreement● Neutral
Agreed to a second ExxonMobil asset swap, trading more Permian Basin properties for ExxonMobil's South Belridge Field assets in California.
9 Sept 2014debt financing▲ GoodMajor
Sold $1.1 billion of new senior notes ($450 million due 2019, $650 million due 2021) to repay the bridge loan and revolver debt used to fund the Devon acquisition.
8 Sept 2014securities registration● Neutral
Pressburg, LLC filed a prospectus supplement for an offering off its existing shelf.
5 Sept 2014securities registration● Neutral
Pressburg, LLC filed a free-writing prospectus - marketing material for an offering in progress.
4 Sept 2014securities registration● Neutral
Pressburg, LLC filed a prospectus supplement for an offering off its existing shelf.
4 Sept 2014securities registration● Neutral
Pressburg, LLC amended its automatic shelf registration statement.
2 Sept 2014asset acquisition disposition▲ GoodMajor
Closed the $2.24 billion Devon Energy asset acquisition, structured as a tax-deferred Section 1031 exchange.
7 Aug 2014quarterly activities report▼ Bad
Pressburg, LLC reported quarterly revenue of $597.0 million and a net loss of $207.9 million for the period ended 2014-06-30.
7 Aug 2014quarterly activities report▼ Bad
Pressburg, LLC reported quarterly revenue of $597.0 million and a net loss of $207.9 million for the period ended 2014-06-30.