Carl Icahn reports 9.98% stake in Seventy Seven Energy Carl Icahn acquired the Shares in connection with the Separation. Carl Icahn does not have any representatives on the board of the company. On July 8, the company and Carl Icahn entered into a confidentiality agreement. Icahn may, from time to time and at any time: (i) acquire additional Shares and/or other equity, debt, notes, instruments or other securities of the company in the open market or otherwise; dispose of any or all of their Securities in the open market or otherwise; or engage in any hedging or similar transactions with respect to the Securities.
Seventy Seven Energy sees FY15 CapEx approx. $200M Once SSE has completed its planned growth capital expenditures, it intends to shift its focus toward using excess cash flows from operations to reduce outstanding long-term debt.