Past year: ▲ 64%(18.38 – 37.10 USD)
Each one in plain English, with the numbers worked through for a shareholder.
8 Dec 2014production update▲ GoodMajor
On Dec 8, 2014 Stone reported its Pribble 6HU Utica shale well (90% WI, West Virginia) flowed about 30 Mmcf per day over a 5-day test, which the company described as one of the highest rates per thousand feet of lateral in the area. Stone has a new rig due in late 2015 and about 30,000 Utica acres in the Mary field. This follows up the Utica development plans in the Appalachia thread.
3 Dec 2014production update▲ GoodMajor
On Dec 3, 2014 Stone said Cardona (65% WI) began production in November 2014, ahead of the sanctioned schedule and under budget; wells #4 and #5 are expected to reach a combined 12,000 boe per day gross within four weeks, flowing through Pompano. This is earlier than the early-2015 first production previously expected. Madison (40%, Noble operated) spud in late October 2014, with Vernaccia (32%) and Harrier (37%) drilling planned for Q1 2015.
6 Nov 2014quarterly activities report▼ Bad
TALOS PETROLEUM LLC reported quarterly revenue of $183.2 million and a net loss of $29.4 million for the period ended 2014-09-30.
3 Nov 2014quarterly activities report▼ Bad
TALOS PETROLEUM LLC reported quarterly revenue of $183.2 million and a net loss of $29.4 million for the period ended 2014-09-30.
8 Oct 2014substantial holder notice● Neutral
BlackRock, Inc reported a TALOS PETROLEUM LLC shareholding of 8,783,204 shares (15.60% of votes) in a periodic institutional filing.
6 Aug 2014quarterly activities report● Neutral
TALOS PETROLEUM LLC reported quarterly revenue of $207.0 million and net income of $4.4 million for the period ended 2014-06-30.
6 Aug 2014quarterly activities report● Neutral
TALOS PETROLEUM LLC reported quarterly revenue of $207.0 million and net income of $4.4 million for the period ended 2014-06-30.
1 Aug 2014asset acquisition disposition● NeutralMajor
On July 31, 2014 Stone completed the shelf properties sale to Talos Energy Offshore LLC for about $177.6 million cash after preliminary adjustments (down from $200 million), with the buyer assuming about $117 million of abandonment liabilities. The proceeds are held by a like-kind exchange intermediary: replacement property must be identified by Sept 14, 2014 and closed by Jan 27, 2015 to defer tax on the gain. This resolves the pending shelf sale; Stone keeps the four-year 50% deep-rights option.
30 June 2014material agreement● NeutralMajor
On June 27, 2014 Stone agreed to sell its non-core Gulf of Mexico shelf properties to Talos Energy Offshore LLC for $200 million cash plus the buyer assuming about $117 million of future abandonment costs. The properties made about 57 MMcfe per day in Q1 2014 and were about 9% of year-end 2013 proved reserves; Stone keeps a four-year option on a 50% working interest in deep drilling rights, and closing is expected by early August 2014. This continues the shelf sale marketed since Nov 2013.
25 June 2014debt financing▲ GoodMajor
On June 24, 2014 Stone signed a new Fourth Amended and Restated bank credit agreement led by Bank of America, maturing July 1, 2019 and replacing the one due Sept 15, 2014. The borrowing base rose to $500 million from $400 million; Stone had no borrowings and $21.0 million of letters of credit, leaving $479.0 million available. It resolves the open question about the facility's 2014 maturity.
14 May 2014material agreement● NeutralMajor
On May 8, 2014 Stone agreed to sell 5,000,000 new common shares at $41.00 each (underwriters get $1.64 per share), with a 30-day option for 750,000 more. Net proceeds are about $196.5M (about $226.0M if the option is fully used), for general corporate purposes that may include developing Amethyst, a second Cardona South well, Utica Shale development or more Appalachian acreage. This is the first new share issue in the record since June 2009 and dilutes existing holders; closing is scheduled for May 14, 2014.
9 May 2014securities registration● Neutral
TALOS PETROLEUM LLC filed the final prospectus for a registered offering.
7 May 2014substantial holder notice● Neutral
HEARTLAND ADVISORS, INC, William J. Nasgovitz reported a TALOS PETROLEUM LLC shareholding of 2,398,275 shares (4.80% of votes) in a periodic institutional filing.
7 May 2014securities registration● Neutral
TALOS PETROLEUM LLC filed a prospectus supplement for an offering off its existing shelf.
5 May 2014quarterly activities report● Neutral
TALOS PETROLEUM LLC reported quarterly revenue of $223.8 million and net income of $25.9 million for the period ended 2014-03-31.
5 May 2014quarterly activities report● Neutral
TALOS PETROLEUM LLC reported quarterly revenue of $223.8 million and net income of $25.9 million for the period ended 2014-03-31.
24 Mar 2014substantial holder notice● Neutral
Integrated Assets II LLC, Integrated Assets, Ltd, ICS Opportunities, Ltd, Cognizant Holdings, Ltd, Millennium International Management LP, Millennium International Management GP LLC, Millennium Management LLC, Israel A. Englander disclosed a new substantial TALOS PETROLEUM LLC shareholding (6.00% of votes).
24 Feb 2014drilling progress report▲ GoodMajor
On Feb 24, 2014 Stone reported that the Cardona well (65% WI, operator) found 84 feet of net oil pay in its development section, and plans to flow it to the Pompano platform with first production in early 2015, a bit later than the 'late 2014' earlier projected. The CEO also referred to a 'recent Amethyst discovery' (the filing gives no details). Drilling on this well should finish in March 2014, then the rig moves to Cardona South, expected to reach total depth in the second quarter.
24 Feb 2014quarterly activities report● Neutral
TALOS PETROLEUM LLC reported quarterly revenue of $239.3 million and net income of $1.8 million for the period ended 2013-12-31.
12 Feb 2014substantial holder notice● Neutral
The Vanguard Group reported a TALOS PETROLEUM LLC shareholding of 3,302,056 shares (6.60% of votes) in a periodic institutional filing.
6 Feb 2014substantial holder notice● Neutral
HEARTLAND ADVISORS, INC, William J. Nasgovitz reported a TALOS PETROLEUM LLC shareholding of 3,073,356 shares (6.10% of votes) in a periodic institutional filing.
16 Jan 2014quarterly activities report● Neutral
TALOS PETROLEUM LLC reported quarterly revenue of $239.3 million and net income of $1.8 million for the period ended 2013-12-31.
10 Jan 2014substantial holder notice● Neutral
BlackRock, Inc reported a TALOS PETROLEUM LLC shareholding of 5,284,242 shares (10.50% of votes) in a periodic institutional filing.
31 Dec 2013drilling progress report▼ Bad
A Dec 30, 2013 drilling update said the San Marcos deep water well (25% non-operated) reached about 28,500 feet with no commercial hydrocarbons and will be plugged and abandoned. Amethyst (MC 26, 100% WI) and Tom Cat (West Cameron 176, 100% WI) were still drilling, both expected to reach targets in late January 2014. The Cardona rig (Ensco 8502) was due to spud in early January 2014, and Mica Deep (50% non-operated) in Q1 2014.
27 Nov 2013security holder rights change● NeutralMajor
About $236.4M (about 63%) of the $375M 8.625% 2017 notes were tendered by Nov 26, 2013 and paid for about $256.5M on Nov 27; a supplemental indenture removes substantially all covenants and some default provisions on the remaining 2017 notes. Stone also closed the $475M add-on of 7.500% notes due 2022 (total now $775M of that series) with net proceeds of about $480.1M. Stone says it intends to redeem any 2017 notes not tendered, with the timing at its discretion, and use the rest for general purposes. This completes the refinancing started on Nov 13, with the first tranche done and the rest still open.
15 Nov 2013material agreement● NeutralMajor
Stone priced an upsized $475M add-on to its 7.500% Senior Notes due 2022 (up $75M from the $400M first announced) at 103.00% of face, a 6.949% yield to worst, adding to the $300M issued in Nov 2012. Substantially all net proceeds are to fund the tender for the 8.625% 2017 notes, with the rest for general corporate purposes; closing is scheduled for Nov 27, 2013. The filing also records a 60-day lock on selling other debt.
14 Nov 2013securities registration● Neutral
TALOS PETROLEUM LLC filed the final prospectus for a registered offering.
14 Nov 2013securities registration● Neutral
TALOS PETROLEUM LLC filed a free-writing prospectus - marketing material for an offering in progress.
13 Nov 2013debt financing● NeutralMajor
On Nov 8, 2013 Stone's bank lenders consented that the $400M borrowing base won't be cut by the sale of its remaining shelf properties, and raised the allowed amount of notes from $1.1B to $1.5B until March 31, 2014 (back to $1.1B after). On Nov 13 Stone announced a planned $400M offering of additional 7.500% Senior Notes due 2022 and a cash tender offer for all $375M of its 8.625% Senior Notes due 2017, with the offering proceeds to fund the tender. Three lawsuits by Jefferson Parish and one by Plaquemines Parish (the filing spells it 'Paquemines') allege coastal-zone law violations from oil and gas operations and seek unspecified damages; the filing says Stone has not yet begun to evaluate them. At Nov 12 there were no bank borrowings and $21M of letters of credit, leaving $379M available.
13 Nov 2013securities registration● Neutral
TALOS PETROLEUM LLC filed a prospectus supplement for an offering off its existing shelf.
