3 Aug 2020director interest notice● Neutral
Whiting Holdings LLC Chief Financial Officer Correne S Loeffler exercised stock options for 9,993 shares and disposed of 14,389 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
10 July 2020substantial holder notice● Neutral
The Vanguard Group reported a Whiting Holdings LLC shareholding of 4,971,643 shares (5.44% of votes) in a periodic institutional filing.
9 June 2020substantial holder notice● Neutral
BlackRock, Inc reported a Whiting Holdings LLC shareholding of 4,438,423 shares (4.90% of votes) in a periodic institutional filing.
8 May 2020substantial holder notice● Neutral
BlackRock, Inc reported a Whiting Holdings LLC shareholding of 4,751,272 shares (5.20% of votes) in a periodic institutional filing.
7 May 2020quarterly activities report● Neutral
Whiting Holdings LLC reported quarterly revenue of $244.8 million for the period ended 2020-03-31.
24 Apr 2020material agreement▼ BadMajor
On April 23, 2020, Whiting signed a restructuring support agreement with some holders of its 2020, 2021, 2023 and 2026 notes and filed its Chapter 11 plan and disclosure statement. The plan turns the earlier term sheet into a signed agreement: the credit facility is refinanced or repaid in cash, noteholders and other general unsecured claimants get 97% of the reorganized equity, and existing shareholders get 3% plus warrants. It is not yet confirmed, and the filing says there is no assurance it will be completed on these terms.
20 Apr 2020listing compliance notice▼ BadMajor
On April 14, 2020, the NYSE told Whiting its stock no longer meets listing standards because the average closing price was below $1.00 over 30 trading days. Whiting has six months to get back above that level, and the shares stay listed meanwhile with a .BC marker. The company says it intends to cure this, including through the capital structure after its Chapter 11 restructuring, and the shares face suspension and delisting if it does not.
16 Apr 2020substantial holder notice● Neutral
ICS Opportunities II LLC, ICS Opportunities, Ltd, Integrated Assets, Ltd, Millennium International Management LP, Millennium Management LLC, Millennium Group Management LLC, Israel A. Englander reported a Whiting Holdings LLC shareholding of 3,916,355 shares (4.30% of votes) in a periodic institutional filing.
15 Apr 2020director interest notice● Neutral
Whiting Holdings LLC insider Michael B Walen disposed of 5,305 shares via option/appreciation-right settlement.
15 Apr 2020director interest notice● Neutral
Whiting Holdings LLC insider Lyne B Andrich disposed of 10,766 shares via option/appreciation-right settlement.
15 Apr 2020director interest notice● Neutral
Whiting Holdings LLC insider William N Hahne disposed of 5,305 shares via option/appreciation-right settlement.
15 Apr 2020director interest notice● Neutral
Whiting Holdings LLC insider Philip Edward Doty disposed of 5,577 shares via option/appreciation-right settlement.
15 Apr 2020director interest notice● Neutral
Whiting Holdings LLC insider Thomas L Aller disposed of 5,305 shares via option/appreciation-right settlement.
15 Apr 2020director interest notice● Neutral
Whiting Holdings LLC insider Michael G Hutchinson disposed of 10,766 shares via option/appreciation-right settlement.
15 Apr 2020director interest notice● Neutral
Whiting Holdings LLC insider James E Catlin disposed of 5,329 shares via option/appreciation-right settlement.
15 Apr 2020director interest notice● Neutral
Whiting Holdings LLC insider Carin S. Knickel disposed of 5,794 shares via option/appreciation-right settlement.
9 Apr 2020substantial holder notice● Neutral
ICS Opportunities II LLC, ICS Opportunities, Ltd, Integrated Assets, Ltd, Millennium International Management LP, Millennium Management LLC, Millennium Group Management LLC, Israel A. Englander disclosed a new substantial Whiting Holdings LLC shareholding (5.70% of votes).
1 Apr 2020bankruptcy or receivership▼ BadMajor
On April 1, 2020, Whiting and certain subsidiaries filed voluntary Chapter 11 cases in the Southern District of Texas, which accelerated the debt: $189.1M of 2020 notes, $773.6M of 2021 notes, $408.3M of 2023 notes, $1.0B of 2026 notes and $1.1B under the credit facility. A term sheet agreed in principle with some noteholders would give noteholders 97% of the reorganized equity and existing shareholders 3% plus warrants, with the credit facility repaid or refinanced in cash. This is a proposed deal, not yet confirmed, and the filing says there is no assurance it will be completed on those terms. It also reports a revised 2020 pay program for employees and executives, director William Hahne's resignation, Chief Strategy Officer Timothy Sulser's departure, and cancellation of the May 1 annual meeting. This ends the earlier credit-agreement and notes structure from 2018.
30 Mar 2020listing compliance notice▲ GoodMajor
the exchange certified Whiting Holdings LLC's securities for listing, clearing them to begin trading.
19 Mar 2020agm notice● Neutral
Whiting Holdings LLC announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
19 Mar 2020agm notice● Neutral
Whiting Holdings LLC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
13 Feb 2020substantial holder notice● Neutral
Hotchkis and Wiley Capital Management, LLC reported a Whiting Holdings LLC shareholding of 4,988,847 shares (5.46% of votes) in a periodic institutional filing.
12 Feb 2020substantial holder notice● Neutral
The Vanguard Group reported a Whiting Holdings LLC shareholding of 9,792,350 shares (10.72% of votes) in a periodic institutional filing.
10 Feb 2020substantial holder notice● Neutral
BlackRock, Inc reported a Whiting Holdings LLC shareholding of 14,152,125 shares (15.50% of votes) in a periodic institutional filing.
6 Nov 2019quarterly activities report● Neutral
Whiting Holdings LLC reported quarterly revenue of $375.9 million for the period ended 2019-09-30.
5 Nov 2019quarterly activities report● Neutral
Whiting Holdings LLC reported quarterly revenue of $375.9 million for the period ended 2019-09-30.
16 Sept 2019debt financing● Neutral
On September 13, 2019, Whiting and Whiting Oil and Gas signed a First Amendment to the April 2018 credit agreement with JPMorgan as agent. It allows the company to buy back or redeem its senior notes at no more than par plus accrued interest and any make-whole premium, provided unused availability stays at least the greater of $100M or 15% of commitments and total debt to EBITDAX is no more than 3.25 to 1.0 after the transaction. The filing does not say whether any repurchase is planned.
1 Aug 2019quarterly activities report● Neutral
Whiting Holdings LLC reported quarterly revenue of $426.3 million for the period ended 2019-06-30.
31 July 2019quarterly activities report● Neutral
Whiting Holdings LLC reported quarterly revenue of $426.3 million for the period ended 2019-06-30.
2 May 2019quarterly activities report● Neutral
Whiting Holdings LLC reported quarterly revenue of $389.5 million for the period ended 2019-03-31.