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HOUSTON--(BUSINESS WIRE)--Sep. 26, 2014--Constellation Energy Partners LLC (NYSE MKT: CEP) today announced that the company intends to change its name to “Sanchez Production Partners LLC (NYSE MKT: SPP)” after market hours on Friday, Oct. 3, 2014.
The change is part of a broader rebranding of the company undertaken along with efforts to implement the Services Agreements executed in May 2014 with Sanchez Oil & Gas Corporation (“SOG”) and its affiliates. In conjunction with the rebranding, the company anticipates the following changes will become effective after market hours on Friday, Oct. 3, 2014:
Currently
Name: Constellation Energy Partners LLC
Changing To: Sanchez Production Partners LLC
Website: www.constellationenergypartners.com
Changing To: www.sanchezpp.com
Ticker: NYSE MKT: CEP
Changing To: NYSE MKT: SPP
CUSIP:
21038E 101
79971A 106
ISIN
US21038E1010
US79971A1060
The new logo for Sanchez Production Partners LLC is provided with this news release. The company anticipates that Sanchez Production Partners LLC will trade under its new ticker symbol “SPP” effective at the open of trading on the NYSE MKT on Monday, Oct. 6, 2014.
Once Sanchez (PP) LP is approved by unitholders we should start heading for double digits in a couple of years since it takes a while to drill/complete/produce wells from leases granted to CEP or might they transfer already produced leases that continue production... mmm, maybe some but they'll need all the help they can get to drill on leases they resigned from those acreage purchases, so they should get virgin eagleford leases...
I think long term sounds great, but short term with prices falling in oil (liquid NG here most likely) it could just start sector slump, (esp. since it doubled recently is the only thing I can think of for drop today)... Name change and llc to lp ... but I guess they're keeping the same symbol for trading (CEP for a Sanchez name will cause explaining endless new investors but Sanchez name should help move it up faster than it would've).
I think good opportunity remains.
Well, whether private or not, it went up and now is almost doubled from your post... Looks to me it headed for double digits if stays public but with goal of reinstating dividends a this price it should be okay as private (you think?).
Going private? Sanchez Production Partners LP (“Sanchez LP”) or will we still trade? Mess up my brokerage account if private...
AH release: Statement of Changes in Beneficial Ownership (4)
Date : 06/19/2014 @ 7:34PM
Source : Edgar (US Regulatory)
Stock : Constellation Energy Partners, Llc (CEP)
Selling shares... see the link below...
http://ih.advfn.com/p.php?pid=nmona&article=62634164&symbol=CEP
Mr. Sanchez III got 6400+ shares for free added to his position and he didn't sell like a lot of others at other companies do.
Good, 2 ways, he doesn't need the money and he knows he can get a lot better later (on price). Perhaps they can move it up and stay list on the NYSE with some leases from Sanchez Eagleford as stated in forward looking statements?
Constellation Energy Partners Furthers Relationship with Sanchez Oil & Gas
HOUSTON--(BUSINESS WIRE)--May 8, 2014-- Constellation Energy Partners LLC (NYSE MKT: CEP) today reported that it has entered into a series of agreements with affiliates of Sanchez Oil & Gas Corporation (the "Services Agreements"). Under the Services Agreements, CEP anticipates significant integration of technical as well as general and administrative functions before the end of 2014.
“With the Services Agreements now in place, CEP can continue on the path of developing what we believe will be a transformative relationship with Sanchez Oil & Gas,” commented Stephen R. Brunner, President and Chief Executive Officer of CEP. “We expect that the relationship will provide CEP with additional asset acquisition opportunities, a means to achieving enhanced deal flow, and an opportunity to integrate with and directly leverage the skills and personnel of Sanchez Oil & Gas, a proven operator with an outstanding technical team and experience that spans across multiple basins in the U.S.”
Additional details concerning the Services Agreements can be found in the company’s filings with the Securities and Exchange Commission and on the company’s Web site (http://www.constellationenergypartners.com).
Constellation Energy Partners’ Borrowing Base Increased to $70 Million
HOUSTON--(BUSINESS WIRE)--May 6, 2014-- Constellation Energy Partners LLC (NYSE MKT: CEP) today reported that its lenders have completed a semi-annual review of the company’s borrowing base pursuant to the terms of its reserve-based credit facility. Based on this review, the borrowing base has been increased from $55.0 million to $70.0 million.
Borrowings outstanding under the company’s reserve-based credit facility currently total approximately $52.0 million, leaving the company with approximately $18.0 million in borrowing capacity. The company maintained $2.9 million in cash and equivalents as of May 5, 2014.
Additional details concerning the company’s reserve-based credit facility can be found in the company’s filings with the Securities and Exchange Commission and on the company’s Web site (http://www.constellationenergypartners.com).
Constellation Energy Partners LLC (NYSE MKT: CEP) today announced that CEP’s 2013 annual meeting of unitholders will be held on June 17, 2014, beginning at 8:00 a.m. local time at the offices of Andrews Kurth LLP, 600 Travis, Suite 4200, Houston, Texas 77002.
Unitholders of record at the close of business on May 12, 2014 will be eligible to vote on matters presented in CEP's proxy statement. A preliminary proxy statement was filed by CEP with the Securities and Exchange Commission on April 4, 2014
wish I could be there. wish I was at the court hearings as well. now that its settled its time for the company to go in one direction or the other
CEP *** GOLDEN CROSS *** CEP
Watching for a golden cross on the weekly.
Great to see settlement on the litigation!
back in business!
CEP is FREE!! LAWSUIT SETTLED ! > > > > > > >
EXPECTING A HUGE Q AND RUN TO $5>>>>>
CEP ACCUMULATION >>>>>>>
This baby is worth A LOT more than $3.++
Do your DD.
Any hope of CEP retracing back to the $2.20-$2.30 range in the near future? Looks interesting here, but don't like getting in on the high end of pps. Go figure! Go CEP!
I think it's money here also..big money!
at this point the company responsible for the delays is the one expecting to lose imo
$CEP
$CEP Court Decision Looms!
Keep an eye..this could double on NEWS.
CEP 10 or so days until court verdict. $$$$$
Victory will equate to $5 a share, approximately 130% higher from today's market .
GL
Looks like a break of $3's sends us to the $5 DOLLA HOLLA depending on the Q's numbers.
Looking Strong today..MM's sitting, waiting, buying.
I'm liking this action prior to the possible reinstatement of dividend. Picked up some $2.45's and holding for a good run.
Somebody just picked up 500k share
That's a telling sign of northbound activity on the horizon.
SP.
the float is somewhere around 9 million shares
ive been with this for years - had a hard time keeping the CEP boys separate from the karma of ceg but they always held there own
looking to get back in when the price strikes me right - the action is slow but solid
$CEP
With such a small amount of outstanding shares and some good earnings we could see $30 / share in 12 - 18 months. I like the direction the boys are taking this...keep steering this ship straight.
Talk of CEP reinstating dividend for those who don't know.
I hope it's true!!
New asset aquisirion:
The acquired assets include 67 wells, 75% operated by SOG, with current net production of approximately 1,167 Boe per day, of which approximately 25% is oil and natural gas liquids production. Based on internal reserve estimates and forward prices as of June 30, 2013, the assets provide total reserves of 1,658 MBoe, of which approximately 87% are proved developed. The acquisition has an effective date of August 1, 2013.
Once $2.30 falls, clear blue sky on the horizon.
A little bit of positive news old take this to $4, $5 & $6.
Very tiny tiny amount of share outstanding with 40% institutional and insider ownership leaves only approximately 12 - 15 million shares outstanding according to various reports out there.
Might be wise to add a few CEP to your portfolio.
holding up nicely as we start a new uptrend shortly.
Should provide some good returns from this level.
SP
Did a little more dd and found only 15m s/o.
At today's price of $2& with everything in the pipeline..........
$$$$$$
For sure.
Very boring but very valuable $$$$$
SP
I'm with you on that one. Maybe even a little higher than that.
looking for $3.5 on this turnaround
CEPs Adjusted EBITDA improves by 18% in the fourth quarter 2012
CEPs Mid-Continent drilling efforts result in net oil production of 396 barrels per day in the fourth quarter 2012, an increase of 45% over the prior quarter
CEP reports a 14% increase in oil production year-on-year
CEPs strategic focus to remain on Mid-Continent oil opportunities, with oil production expected to account for 50% of CEPs 2013 sales revenue
I like $CEP here. Good junior value proposition.
ive been a bit out of touch since i traded CEP a few years back - but being that CEG was bought, was CEP left as a stand alone operation or where they part of an "umbrella" package
when i had my connections at CEG, CEP was always a joke step child but seemed to always be able to clean themselves up.....unlike CEG :P
Constellation Energy Partners Closes Sale of Alabama Assets
Mar 1, 2013 7:30:00 AM
Copyright Business Wire 2013
HOUSTON--(BUSINESS WIRE)-- Constellation Energy Partners LLC (NYSE MKT: CEP) today announced that the company closed the previously announced sale of its Robinson’s Bend Field assets, which are located in Tuscaloosa County, Alabama.
The sale resulted in net proceeds of approximately $55.3 million, $50.0 million of which was used to retire debt under the company’s credit facility. After the debt reduction, borrowings outstanding under the credit facility totaled $34.0 million. Adjusting for estimated transaction costs, the company maintained a cash balance of approximately $12.1 million as of Feb. 28, 2013, the date of the close. Upon closing of the sale, the borrowing base under the credit facility was immediately reduced to $37.5 million and the facility maturity date was extended to March 31, 2014. Since the third quarter of 2009, the company has reduced debt by 85%.
“This transaction marks a milestone for CEP and helps provide the financial flexibility necessary to support our efforts focused on growing our asset base by drilling for oil and pursuing consolidation opportunities in and around our Mid-Continent footprint,” said Stephen R. Brunner, President and Chief Executive Officer of Constellation Energy Partners. “We believe these focused efforts, when combined with our reduced leverage, will have a positive impact on the way we achieve growth and, ultimately, value for our unitholders.”
Additional details concerning the sale of the company’s Robinson’s Bend assets can be found in the company’s filings with the Securities and Exchange Commission and on the company’s Web site (http://www.constellationenergypartners.com).
About the Company
Constellation Energy Partners LLC is a limited liability company focused on the acquisition, development and production of oil and natural gas properties, as well as related midstream assets.
Forward-Looking Statements
We make statements in this news release that are considered forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. These forward-looking statements are largely based on our expectations, which reflect estimates and assumptions made by our management. These estimates and assumptions reflect our best judgment based on currently known market conditions and other factors. Although we believe such estimates and assumptions to be reasonable, they are inherently uncertain and involve a number of risks and uncertainties that are beyond our control. In addition, management's assumptions about future events may prove to be inaccurate. Management cautions all readers that the forward-looking statements contained in this news release are not guarantees of future performance, and we cannot assure you that such statements will be realized or the forward-looking events and circumstances will occur. Actual results may differ materially from those anticipated or implied in the forward-looking statements due to factors listed in the "Risk Factors" section in our SEC filings and elsewhere in those filings. All forward-looking statements speak only as of the date of this news release. We do not intend to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise. These cautionary statements qualify all forward-looking statements attributable to us or persons acting on our behalf.
Constellation Energy Partners LLC
Charles C. Ward, 877-847-0009
Source: Constellation Energy Partners LLC
----------------------------------------------
Constellation Energy Partners LLC
Charles C. Ward
877-847-0009
Chart Becoming Very Bullish, We increase Our Price Outlook To $3.37
CEP breaking out again. Personally looking for $2 and a half, where it should be for now.
look at the current assets value and divide that by the shares outstanding, less debt, and there you will find out.
look at the current assets value and divide that by the shares outstanding, less debt, and there you will find out.
Can u give your reasoning why it should be 4 x's higher?
$36 M Market Cap..what a joke..should be closer to $125M
Read and do your DD
The latest transaction will leave them closer to debt free
and also keep in tact remaining assets, not to mention the tiny float, large insider and institutional holdings.
Ummm really?
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Most of our current production is natural gas, which we recover primarily from coalbed methane. Our proved reserves are located in the Black Warrior Basin in Alabama, the Cherokee Basin in Oklahoma and Kansas, the Woodford Shale in the Arkoma Basin in Oklahoma, and the Central Kansas Uplift in Kansas and Nebraska.
Our primary business objective is to create long-term value and to generate stable cash flows allowing us to resume making quarterly cash distributions to our unitholders. In the long term, we are focused on increasing the amount of our future quarterly distributions over time. We plan to achieve our objective by executing our business strategy, which is to:
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Our proved reserves are located in the Black Warrior Basin in Alabama, the Cherokee Basin in Oklahoma and Kansas, the Woodford Shale in the Arkoma Basin in Oklahoma, and the Central Kansas Uplift in Kansas and Nebraska.Our reserves provide long-lived production, low-risk, low-cost drilling opportunities and a high percentage of proved developed reserves.Our asset base contains over 2,800 low-risk, low-cost drilling opportunities which should provide us the opportunity to organically grow our business over time. |
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John R. Collins
Richard H. Bachmann
Richard S. Langdon
Hugh M. McIntosh
John N. Seitz
Stephen R. Brunner
Charles C. Ward
Michael B. Hiney
Lisa J. Mellencamp
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