New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 13, 2013
07:35 EDTGMXR, PDCE, CPE, OEDV, GRH, AXAS, PHX, EOX, FTK, MPET, IOCIndependent Petroleum Association of America to host a conference
IPAA OGIS Florida Conference is being held in Fort Lauderdale on February 13.
News For OEDV;IOC;PHX;CPE;MPET;AXAS;PDCE;FTK;GRH;GMXR;EOX From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
February 8, 2016
12:57 EDTEOXEmerald Oil says remains in default of credit agreement
Emerald Oil disclosed in a regulatory filing that, on January 29, the amendment to the forbearance agreement dated December 18 with regard to the credit agreement between Emerald Oil and Wells Fargo Bank expired, and the company was determined to be in default of the agreement. As a result of the default, on February 2, the Bank of Nova Scotia notified the company it had designated February 3 as the early termination date of the ISDA master agreement between the company and BNS. Thereafter, on February 3, BNS terminated the agreement and applied $17.5M of proceeds from the termination to amounts owing by the company to BNS under the credit agreement. As a result of the payment of the agreement termination proceeds, as well as the proceeds from other transactions consummated by the company, Emerald has cured the borrowing base deficiency under the facility, and the borrowing base under the facility is currently $113M, with approximately $111M currently outstanding. However, notwithstanding this cure, the company remains in default under the facility based on the continuing covenant defaults, and there is no credit available under the facility. So long as one or more events of default are continuing, the company's lenders may exercise a number of remedies including acceleration of the debt and the sale of collateral, the company noted. The exercise of those remedies may have a material adverse effect on the liquidity, financial condition and results of operations of the company, and, because its liquidity position continues to deteriorate, the company may still become bankrupt or insolvent.
12:44 EDTEOXEmerald Oil trading halted, pending news
Subscribe for More Information
February 5, 2016
07:54 EDTPDCEPDC Energy management to meet with Deutsche Bank
Subscribe for More Information
February 4, 2016
07:18 EDTPDCEPDC Energy management to meet with Deutsche Bank
Subscribe for More Information
February 1, 2016
18:05 EDTEOXEmerald Oil negotiating borrowing base deficiency with lending group
Emerald Oil is continuing to negotiate with the lending group associated with its revolving credit facility to cure the outstanding borrowing base deficiency. On January 14, the company made a presentation to the lending group regarding a possible cure to the borrowing base deficiency, and the company expects to receive a response in the near future. For the time being, the company has elected not to extend the forbearance agreement that expired on January 29, but will continue to evaluate the merits of such an extension. Emerald has engaged legal advisor Kirkland & Ellis, who will join financial advisor Opportune LLP and investment banker Intrepid Partners, LLC, to advise management and the board of directors on lender negotiations and capital structure options.
17:24 EDTAXASBiglari reports 5.3% passive stake in Abraxas Petroleum
Subscribe for More Information
10:02 EDTAXASOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AIG (AIG) downgraded at BMO Capital... ARMOUR Residential (ARR) downgraded to Underweight from Equal Weight at Barclays... Abraxas Petroleum (AXAS) downgraded to Neutral from Buy at SunTrust... Anchor BanCorp Wisconsin (ABCW) downgraded to Equal Weight from Overweight at Stephens... Ashford Hospitality Prime (AHP) downgraded to Hold from Buy at Canaccord... Ashford Hospitality (AHT) downgraded to Hold from Buy at Canaccord... Axiall (AXLL) downgraded to Neutral from Buy at Citi... Boston Private Financial (BPFH) downgraded to Neutral from Buy at SunTrust... Colliers International (CIGI) downgraded to Sector Perform from Outperform at RBC Capital... Companhia Brasileira de Distribuicao (CBD) downgraded to Neutral at Credit Suisse... Connecticut Water (CTWS) downgraded to Market Perform from Outperform at Wells Fargo... Duke Realty (DRE) downgraded on valuation, growth outlook at BMO Capital... EP Energy (EPE) downgraded to Neutral from Buy at SunTrust... Eastman Chemical (EMN) downgraded at SunTrust... Equity Residential (EQR) downgraded to Neutral from Buy at Mizuho... Genuine Parts (GPC) downgraded to Neutral from Overweight at JPMorgan... Hersha Hospitality (HT) downgraded to Hold from Buy at Canaccord... Jones Energy (JONE) downgraded to Neutral from Buy at SunTrust... Mondelez (MDLZ) downgraded to Neutral from Positive at Susquehanna... Nokia (NOK) downgraded to Hold from Buy at Canaccord... Ollie's Bargain Outlet (OLLI) downgraded to Neutral from Outperform at Credit Suisse... Oshkosh (OSK) downgraded to Hold from Buy at Drexel Hamilton... Outerwall (OUTR) downgraded on Redbox weakness at Roth Capital... PACCAR (PCAR) downgraded to Underperform from Peer Perform at Wolfe Research... Restoration Hardware (RH) downgraded to Market Perform from Outperform at Cowen... Rex Energy (REXX) downgraded to Neutral from Buy at SunTrust... Sanchez Energy (SN) downgraded to Neutral from Buy at SunTrust... SandRidge Energy (SD) downgraded to Neutral from Buy at SunTrust... Santander Consumer (SC) downgraded to Underperform from Neutral at BofA/Merrill... Tiffany (TIF) downgraded to Market Perform from Outperform at Cowen... Trex Company (TREX) downgraded to Hold from Buy at BB&T... U.S. Steel (X) downgraded to Neutral from Outperform at Macquarie... United Community Financial (UCFC) downgraded to Neutral from Outperform at Boenning & Scattergood... Xerox (XRX) downgraded to Equal Weight from Overweight at Morgan Stanley.
09:24 EDTAXASAbraxas Petroleum downgraded to Neutral from Buy at SunTrust
Subscribe for More Information
07:38 EDTCPECallon Petroleum sees FY16 net daily production 11,500-12,000 BOE/d
Subscribe for More Information
07:36 EDTCPECallon Petroleum sees Q4 net daily production 10,500-10,700 BOE/d
Subscribe for More Information
January 29, 2016
15:47 EDTPDCEPDC Energy downgraded to Neutral from Overweight at Mitsubishi UFJ
Subscribe for More Information
11:33 EDTFTKFlotek management to meet with Stephens
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use