25 Apr 2016
ANNOUNCES YEAR-END RESERVES AND FINANCIAL RESULTS
Impact: Neutral as the impact of 4Q results are not material to our thesis on the stock. The Company was granted temporary covenant relief and a slight increase to its bank line (available till April 29th). The Company continues to explore strategic alternatives but has indicated it will sell its North Dakota overriding royalty interests for $1.3 mm.
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
ANNOUNCES YEAR-END RESERVES AND FINANCIAL RESULTS
Impact: Neutral as the impact of 4Q results are not material to our thesis on the stock. The Company was granted temporary covenant relief and a slight increase to its bank line (available till April 29th). The Company continues to explore strategic alternatives but has indicated it will sell its North Dakota overriding royalty interests for $1.3 mm.