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Heres a list of counties for Sabine Oil and Gas LLC, which is one of the operators:
Operator Name: SABINE OIL & GAS LLC, Operator No: 742142
Statewide Statewide
County, Jan 2013 - Apr 2015
County Oil (BBL) Casinghead (MCF) GW Gas (MCF) Condensate (BBL)
DE WITT 0 0 25,964,177 2,352,787
GREGG 0 0 539,176 347
HARRISON 8,653 69,607 61,366,390 178,743
HEMPHILL 67,259 695,432 2,563,114 61,175
LAVACA 363,951 714,466 350,772 33,918
LIPSCOMB 111,059 614,038 736,307 17,876
MARION 0 0 168,000 1,613
NAVARRO 0 0 0 0
OCHILTREE 19,014 108,675 0 0
PANOLA 0 0 12,912,647 3,673
ROBERTS 2,194,739 11,069,464 0 810
RUSK 123,308 2,007,800 46,776,239 283,663
SHELBY 0 0 0 0
Total 2,887,983 15,279,482 151,376,822 2,934,605
http://webapps.rrc.state.tx.us/PDQ/changeViewReportAction.do?viewType=County
Feb Numbers just came through for Sabine Oil and Gas LLC and they are good also:
last three years FEB:
Date..........Oil (BBL).....Casinghead (MCF).....Gas (MCF).....Condensate (BBL)
Feb13..........30,899..........157,849..............3,752,075..........29,129
Feb14..........59,960..........431,255...............5,468,356..........127,984
Feb15..........128,160........736,895...............5,558,759..........124,320
http://webapps.rrc.state.tx.us/PDQ/changePageViewAction.do?pagesize=500
There are over 30 companies listed as operators in Texas with the name Sabine in them, and our Sabine Oil and Gas owns several IMHO, this is not including any Forest Oil that may still exist, so some serious research needs to be done here to determine whats going on just in the state of TX.....
Sabine Oil & Gas to Continue Creditor Discussions During Grace Period for Interest Payment
http://investors.sabineoil.com/phoenix.zhtml?c=92251&p=irol-newsArticle&ID=2038534
HOUSTON, April 21, 2015 /PRNewswire/ -- Sabine Oil & Gas Corporation (OTCQB:SOGC) (the "Company") today announced that it has elected to exercise its right to a grace period with respect to a $15.313 million interest payment under its Second Lien Credit Agreement. The interest payment is due April 21, 2015; however, such grace period permits the Company 30 days to make the interest payment before an event of default occurs.
Logo - http://photos.prnewswire.com/prnh/20130325/MM83201LOGO
As previously announced, Sabine has retained financial advisors Lazard and legal advisors Kirkland & Ellis LLP to advise management and the board of directors on strategic alternatives related to its capital structure. Sabine believes it is in the best interests of its stakeholders to actively address the Company's debt and capital structure and intends to continue discussions with its creditors and their respective professionals during the 30-day grace period. As of April 20, 2015, the Company had a cash balance of approximately $280 million, which provides substantial liquidity to fund its current operations. Sabine is continuing to pay suppliers and other trade creditors in the ordinary course.
About Sabine Oil & Gas Corporation
Sabine Oil & Gas Corporation is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States. Sabine's current operations are principally located in the Cotton Valley Sand and Haynesville Shale in East Texas, the Eagle Ford Shale in South Texas, the Granite Wash in the Texas Panhandle and the North Louisiana Haynesville. For more information about Sabine, please visit www.sabineoil.com
Doc - Do you know what East Texas counties they are operating?
Well if I was considering bk I wouldnt be paying15m on a loan Im going to file on...I guess will know the that dicision in 30 days. And the fact the law firm has awards for being the best bk firm.
Where is this really going.. Im assuming the legal side is making it drag
Well what do I know, I was going to sell my paltry amount today sometime, cuz I thought this would plummett on that 8k?
It appears you may be right... 8k after close pretty much means something similar
Need detail quote page for news, msg board is Forest for some reason.
Average prices before effects of economic hedges (2):
Oil (per Bbl)
$
62.54
$
90.25
$
83.57
$
94.41
NGL (per Bbl)
$
21.90
$
33.10
$
29.44
$
32.44
Natural gas (per Mcf)
$
4.11
$
3.62
$
4.44
$
3.66
Combined (per Mcfe)(1)
$
5.30
$
5.63
$
6.17
$
5.55
Average realized prices after effects of economic hedges (2):
Oil (per Bbl)
$
69.10
$
86.87
$
81.79
$
90.49
NGL (per Bbl)
$
21.90
$
33.10
$
29.44
$
32.44
Natural gas (per Mcf)
$
4.28
$
4.69
$
4.30
$
4.82
Combined (per Mcfe)(1)
$
5.63
$
6.27
$
6.02
$
6.28
Some where when I first bought shares here I read that SOGC had a lot of their oil and gas Hedged .
Others this year
dud http://amarillo.com/news/2015-02-21/oil-gas-report-feb-22-2015
ROBERTS (LARD RANCH Granite Wash –C-) Sabine Oil & Gas LLC, #1 Boone 5, 23 mi NW from Miami, Sec 5, Blk H, PSL/King, JA Surv, A-1175, spud 11-4-2014, compl 1-28-2015, tested 2-1-2015, potential 42 bbls-oil, 0 mcf, 69 bbls wtr, 20# ftp, 0# CP, TVD 8600’, PBD 8518’ API 42-393-32647, Vertical
http://www.tylerpaper.com/TP-Business/216078/oil-and-gas-drilling-report-march-22
COMPLETIONS
County; Operator; Lease/Well; Field; Depth; Choke Size; Flow Rate (24 Hrs.); Location
Rusk; Sabine Oil & Gas LLC; Wesson GU 14H; Henderson, E. (Cotton Valley); 10,880; 2.625; 29,028 Mcf; 4.2 Miles SW Henderson
http://www.americanlawyer.com/id=1202721664406/The-Bankruptcy-Files-Oil-Slide-a-Boon-to-Some-Big-Firms?mcode=1202615731542&curindex=47&slreturn=20150319001248
Kirkland & Ellis bankruptcy practice leader James Sprayregen told The Am Law Daily in February that his firm was eyeing opportunities to advise energy companies coping with the fallout from the oil slump.
Since then, Sprayregen has made good on his word as the firm picked up out-of-court restructuring roles for Sabine Oil & Gas and Samson Resources, both of which are backed by longtime Kirkland private equity clients First Reserve and KKR, respectively. (Kirkland advised KKR on its $7.2 billion buy of Samson in late 2011.)
Two more new drills
http://www.tylerpaper.com/TP-Drilling+Report/217930/drilling-report-april-19
DEVELOPMENTAL
County; Operator; Lease/Well; Field; Survey; Type; Depth; Location
Cherokee; Sabine Oil & Gas Corp.; Cherokee Trace Unit 1H; Walkers Chapel (Pettit 8100); Greenway, J.T./315; Oil/Gas; 10,000; 9.8 Miles NE Rusk
Rusk; Sabine Oil & Gas Corp.; Nicholas No. 1 Gas Unit 2H; Henderson, E. (Cotton Valley); Sparks, L.N./701; Gas; 13,000; 8.0 Miles SW Henderson
Not worried. Enron, global crossing, and bear sterns all had perfect scores according to moody up until the bitter end. I have faith this company will come back strong.
As far as production, they look like they are doing well, numbers are improving for "SABINE OIL & GAS LLC" (both oil and gas #'s), they probably operate under more than just 1 operator name and number, this is a big company, but I like what I see...just looking back over the last 2 years these are the best JANUARY #'s yet...(2013-2014-2015)
http://webapps.rrc.state.tx.us/PDQ/changePageViewAction.do?pagesize=500
Operator Name: SABINE OIL & GAS LLC, Operator No: 742142
Statewide Statewide
Monthly Totals, Jan 2013 - Apr 2015
View Page By Page
Date Oil (BBL) Casinghead (MCF) GW Gas (MCF) Condensate (BBL)
Jan 2013 50,450 127,406 79,270 5,301
Feb 2013 30,899 157,849 3,752,075 29,129
Mar 2013 45,783 192,435 4,141,766 45,057
Apr 2013 109,725 665,863 4,355,773 44,358
May 2013 97,843 649,525 5,455,659 96,186
Jun 2013 87,292 568,661 5,667,046 98,161
Jul 2013 87,621 562,533 5,978,224 82,178
Aug 2013 133,279 684,830 6,618,412 132,525
Sep 2013 108,330 682,239 6,537,715 112,281
Oct 2013 124,685 722,093 7,174,060 139,875
Nov 2013 128,206 731,115 7,032,355 169,766
Dec 2013 112,581 636,240 6,393,176 133,351
Jan 2014 87,482 611,818 6,099,739 137,261
Feb 2014 59,960 431,255 5,468,356 127,984
Mar 2014 92,791 536,325 7,072,578 180,193
Apr 2014 89,004 518,303 7,231,774 147,393
May 2014 94,838 529,504 7,447,747 131,535
Jun 2014 130,209 591,080 7,123,087 149,505
Jul 2014 132,939 573,982 7,191,230 169,142
Aug 2014 149,384 641,561 6,828,497 174,681
Sep 2014 170,047 723,554 6,318,799 162,688
Oct 2014 149,964 731,030 6,441,249 164,763
Nov 2014 140,914 631,758 5,830,405 141,869
Dec 2014 186,182 787,263 5,760,272 124,466
Jan 2015 158,490 795,921 5,472,944 125,261
Feb 2015 0 0 0 0
Mar 2015 0 0 0 0
Apr 2015 0 0 0 0
Total 2,758,898 14,484,143 147,472,208 3,024,909
Another company changed merger for bond loophole ... http://www.bloomberg.com/news/articles/2015-04-10/forest-oil-loophole-lures-second-energy-firm-to-skip-bond-payout
Drilling good news... as
This probably explains weakness last week ...
Perhaps GE Capital could provide financing since oil sector is their interest and they have lots of cash?
Since year-end o/s was 132mil vs 3/31 comment o/s 214mil that equates to dumping in my assumption....
Its more likely they'll make a refinancing offer with shares since than BK since a/s is 600mil'ish but next year is more likely...
No.
They are not dumping shares. It is a matter of fact, not opinion, that they are not dumping shares.
Can Lazard suggest a offering? Some dilutive share offering or debt equity swap?
Sure!
And they probably will...
But... The share price is soooo low that only a maniac would try to pay off $200 MILLION in debts with a $0.07 stock(do the math for fun to see how any shares that would create).
What they'll do is this... And it's worth the read...it's also a "spoiler alert"
They'll feign a BK option where the creditors get pennies on the dollar.
The stock will soar on this play because the stock is worth $3.00 per share with no debt...
Then they'll offer creditors a sweetheart deal.
Boom!
Anyone buying at this price ($0.0725) will make 1000-3000% gains.
(Traders who bought higher will make markedly less or barely break even)
Why?
Because SOGC earns in excess of $330 million per year and the only thing standing in the way of a profit is debt.
That's why.
You saw it here first.
(Sorry to SOGC creditors who are reading this shaking their fist screaming : "damn you spoiler!!!"
I'm guessing the company may be dumping shares... plenty of buying interest... but last week saw 1k & 2k trades or so taking it down... can't watch nonstop though...
Forest was in trouble before the merger is what I understand so this debt problem had to have a plan and no conference call mesns none of our business. Of course they'll say lower oil messed up plans...
goes up 2 cents then down 2 cents,, up up 8 cents then down 7 cents.. LOL
The posts are appreciated. Nice lessons/opinions. It should be a given though that no Bankruptcy is needed until next April for protection (unless the credit line they have forces immediate due for over credit line if it's lowered), right?
I don't know what the advisors will come up with, but they still must drill leases (they can't get to extend on the cheap while oil is down) in order to keep them (in newer zones like Eagleford, probably not East Texas except some with separate deeper leases). They cannot just pay creditors.
Doc...
Corporate finance lending isn't that much different than credit in your own home.
SOGC, all told, has over 2.5 billion in debt.
2014 revs were nearly a half billion according to Hotstocks but was listed as $330 million EBITDA in SOGC's MRQ.
I love their rev numbers. No matter what, while oil was getting crippled in 2014, they managed a revenue growth in the double digits.
Back to finance and finding a lender.
If your household debt is 7 or 8 or 10 times your annual income, and you're unable to show any savings in your account, your credit will be weak.
SOGC has poor credit. Moody's and Standard and Poors both recently downgraded their debt to near junk.
The share price, in my humblest opinion, is reflecting the dire nature of their debt situation and Wall Street is pricing in a dilutive solution
So?
So, my point is this:
Anything better than a worse case solution and this stock pops.
As I wrote earlier, I believed today's lows were great trading entry points and I bought back in. If the current price holds, ill go into the close with 12% gain. Today is my 4th trade with SOGC in the last three weeks.
Hoping one of these trades is pre-not worse case scenario Press Release.
I think SOGC will restructure with its creditors and with refineries in the US starting to finish up turnarounds and maintenance as they start making more gas and diesel US crude levels will start to decline causing the a supply demand which in turn will bring crude prices back up, and with Asia having greater demands the Saudis bumped up prices also! Oil is going to rebound
Read from Hotstocks dated April 1 last night they had 460'ish million in revenue last year, ... with cash flow like that it shouldn't be hard to finance somewhere.
World oil production is 1.5 million barrels per day over demand now, but China wants to store strategic oil of 90 day having 91 million bbls for nine days worth ... still need 800 more but they have to build storage supposedly.
Sabines lenders:
Either negotiate terms or Sabine files Chapter 11.
The creditors will lose millions.
Sabine:
Do we offer debt/equity swaps? (This option is dilutive to shareholders and frankly, with the share price this low {try to remember that debt/equity swaps involve discounted shares, sometimes up to 50%, so when you do the math on this, price the conversion at up to $0.04 per share and do not use current stock price} I don't really find that option too attractive because it would take billions of shares to pay off just $200 million in debt).
Sell assets?
Sure... They could...but it's one of those things where you sell an old painting in your garage sale at garage sale prices only to find out its a Rembrandt etching later.
If SOGC sells an asset now, while in distress and everyone knowing their distressed, they'll see later, when oil rebounds, that the asset was worth 10X or more than what they sold it for.
Their best bet is to get new terms on their debt and to offer up Senior Convertible Notes/Warrants to sweeten the deal.
Maybe they raise the interest on the debt... They keep the Credit facility in place...and they offer SCN's or Warrants up to sweeten the pot.
But a technical default hurts SOGC, their creditors, and clearly their investors...
We all know that common share holders come last in a default/bk scenario but here is the thing:
Common share holders have already been crushed with the collapse of the stock price so in a sense, they remain the one group who has the least left to lose.
It's the creditors who would be the biggest loser in a bk scenario because the shareholders have already lost 90-95% and ultimately, a judge would approve creditor protections for SOGC and they would ultimately emerge from BK with a cleaner balance sheet.
The creditors will lose the most in BK...and that is their motivation to negotiate...
It's also the reason SOGC is worth buying here on a gamble that the creditors recognize exactly what's at risk if they don't negotiate mutually beneficial terms to existing credit facilities and debt agreements.
okay, you're right its short term... Why did they merge at all then? Oil would have to be above 872/bbl to payoff 1.8 billion a year from now with 5660/bbls/day with no other costs
Okay just saw table of 122 been traveling ... 122 ?@end 2014 so they are dumping... and debt statement contradiction 2018 vs 2016 if 2016 then they lied because oil prices could be 150/bbl and they still couldn't pay in time. This needs to be haulted / freezed for false statement concerning its ... I'll take par value...
Nah, its the two bogus lawsuits that's the problem. They bought back lots of shares poster had them at 220 and its 133... Morons from NY tell their clients to sell to create a loss... bondholders are like atheletes trying to change contract before its completed... short term everyone and their grandmother's have oil above 60 next year... Its not a penny stock and its not going to be bought out because of bonds from Forest, same problem Forest had before merger, its just a much better company now.
Have a good Passover.
Could it be they're shorting the stock too for fooling Judge and jury based on stock price that it was a bad deal?
214,669,984 shares of our $0.10 par value common stock were outstanding on March 15, 2015
http://www.sec.gov/Archives/edgar/data/38079/000155837015000424/sogc-20141231x10k.htm
I know.
I saw their report.
I'm thrilled that they seem to have hedged well.
In a way, I wish a bigger voice in stock market land would write a piece up on their effective hedging...Id just hope it's not a hit piece, pump and dump.
I'm telling you...in all of OTC land, SOGC is a rare find.
They had a murky merger run afoul...their debt ballooned higher and suddenly, credit rating agencies and analysts hate their share price into the dirt and, in my opinion, threw the baby out with the bath water here while overlooking hedged energy prices and growing revenues.
Seriously!...SOGC pulled $330 MILLION FREAKING DOLLARS in revenues...representing double digit revenue gains over 2013, and the stock tanks?!?
I'm not buying SOGC here today at $0.0730.
I bought, then sold yesterday for a hard earned 10% profit...
I see the action and there is just too many people eager to sell here (probably folks who got in at $0.01 or $0.02, $0.03 and are eager to keep those gains...
So far...I've been to the SOGC well three times in two weeks and I've pulled buckets of water on all three times...
I worry a buy here at $0.0730 will yield me a bucket of dirt.
If she slips into $0.06 land I'll run to the well again and hope for a bucket of water...
Of course I am hopeful that one of these trips to the well yield a bucket of gold, instead of just water.
Nobody is noticing the price hedged by SOGC for oil @$90 and Gas @$4. Almost 70% of 2015 oil production is hedged and 105% of gas is hedges.
SOGC isn't tracking oil.
While there is NO DOUBT that collapsing oil hurt SOGC, what is hurting them now are the questions/rumors of what Lazard will guide them to do.
Personally, I'm concerned for current shareholders. My concern is that Lazard will guide them towards a share offering via shares, warrants, or convertible notes in lieu of an asset sale.
The assumption is based on the fact that when oil recovers, and it will (long OIL), that oil field assets will recover lost value and when that value recovers, dilutive damage from debt offerings will be minimized.
So you see, it's better, in Lazards view, to harm a share price that may recover instead of selling assets which once sold, cannot be recovered at a lower price than where they were sold.
It's my belief that the pressure we've seen on SOGC (keep in mind that in the trailing 5 sessions, SOGC has lost 40% of its face value falling from $0.1290 to current, real time prices of $0.0735) is a direct result of rumors that a dilutive event is coming.
SOGC is a fun stock to trade. I personally hope that they can right this ship. I believe that if they do, SOGC, with their ever increasing revenues, will see a share price recovery once oil and energy recover.
In that sense, if they resolve their debt issues, SOGC will track oils recovery.
For now however, SOGC is not going to track an oil recovery because the threat of dilution outweighs any bounce in oil/Nat gas prices.
Small blocks sold from shorts that last .0735 was 200 shares. Redic go SOGC
Oil looking for an UP day today.
LONG and STRONG SOGC
It will be back to .12
Shorters sending the dogs out but you can't keep it down.
They will get it down, let it up, take it down, let it up until they have had their fill.
Then Oil comes back and BURNS down their house.
SOGC stronger than the Weak hands of shorts.
yea prime buying was in the 4 cent range then sell when it climbed to over .11
not really creeping....there is something more than cheap oil wrong with this play
sogc creeping back down again.... what next LOL
No one said anything about being scared or selling !
Ignoring the facts won't make you a better trader.
Facts are clear here...
Lots of debt AND people smarter than you have issued dire warnings regarding SOGC debt.
I listen to the smart people...not the ones with massive losses on their TD Ameritrade (or whatever) account.
Why don't you go mind your own business. If you don't like what I write, then ignore it.
If you took the time (it's clear you don't) you'd see that I've bought and sold SOGC twice for profitable trades already.
Nobody on my side of the keyboard is saying "sell...run...don't look back".
As a matter of a fact, I bought near lows today and am working on a third profitable trade with SOGC today.
The company has problems... Clearly...
Not my fault if you've rode this thing from highs to lows and are hoping every single IHUB post is awesome a glowing.
Then sell and get out if you scared.
A person's dump is another's buy.
This is going up and I am going with it.
SOGC Long and Stronger than the shorts.
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Logo - http://photos.prnewswire.com/prnh/20130325/MM83201LOGO
Sabine Oil & Gas Corporation is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States. Sabine's current operations are principally located in the Cotton Valley Sand and Haynesville Shale in East Texas, the Eagle Ford Shale in South Texas, the Granite Wash in the Texas Panhandle and the North Louisiana Haynesville. For more information, please visit www.sabineoil.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sabine-oil--gas-corporation-to-trade-under-new-trading-symbol-sogc-300019610.html
SOURCE Sabine Oil & Gas Corporation
WEBSITE:
http://www.sabineoil.com/
Company Directors
http://www.sabineoil.com/company/directors/
Company Officers/Contacts
http://www.sabineoil.com/company/officers/
Recent News
01/13/2015
Sabine Oil & Gas Corporation To Trade Under New Trading Symbol "SOGC"
http://investors.sabineoil.com/phoenix.zhtml?c=92251&p=irol-newsArticle&ID=2007181
12/17/2015
Common Stock of Newly Combined Sabine Oil & Gas and Forest Oil to Trade on the OTCQB Market Under the New Trading Symbol "FSTO"
http://investors.sabineoil.com/phoenix.zhtml?c=92251&p=irol-newsArticle&ID=2000272
12/16/2015
Sabine Oil & Gas and Forest Oil Complete All-Stock Business Combination
http://investors.sabineoil.com/phoenix.zhtml?c=92251&p=irol-newsArticle&ID=1999888
OTCMARKETS:
http://www.otcmarkets.com/stock/SOGC/quote
ZACKS:
http://www.zacks.com/stock/quote/SOGC
YAHOO:
http://finance.yahoo.com/q?s=SOGC
MARKETWATCH:
http://www.marketwatch.com/investing/stock/SOGC
SEC:
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000038079&owner=exclude&count=40&hidefilings=0
Contact Sabine Oil and Gas
http://www.sabineoil.com/contact/
Headquarters
Corporate Communications: corporaterelations@sabineoil.com |
Investor Relations: InvestorRelations@sabineoil.com |
Share Structure
SOGC Security Details
Market Value1 | $18,461,619 | a/o Apr 01, 2015 |
Shares Outstanding | 214,669,984 | a/o Mar 15, 2015 |
Float | Not Available | |
Authorized Shares | Not Available | |
Par Value | 0.1 |
Shareholders of Record | 587 | a/o Oct 01, 2014 |
Ex. Date | Record Date | Pay Date | |
---|---|---|---|
Dividend () | Oct 05, 1995 | Oct 10, 1995 | Nov 01, 1995 |
|
Short Interest | 6,672,837 (-27.15%) Jan 15, 2015 |
Significant Failures to Deliver | No |
Computershare Trust Company of Canada Inc. |
Computershare |
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Day Range: | |
Bid Price | |
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Last Trade Time: |