goodrich petroleum corp (GDP) Key Developments
Goodrich Petroleum Corp. Proposes an Amendment to Restated Certificate of Incorporation
Apr 2 15
Goodrich Petroleum Corp. at its annual meeting of stockholders to be held on May 5, 2015, proposed an amendment to Restated Certificate of Incorporation to increase the number of authorized shares of common stock.
Goodrich Petroleum Corp. Completes 8% Senior Secured Notes at Par Due on 2018
Mar 22 15
Goodrich Petroleum Corp. reported that it has closed its previously announced offering of $100 million aggregate principal amount of 8% senior secured notes issued at par due 2018. Net proceeds from the offering totaled approximately $98 million. In a release on March 12, the company noted that it intends to use the net proceeds from the offering to repay borrowings under its credit facility and for general corporate purposes.
Goodrich Petroleum Corp. Presents at IPAA's OGIS New York, Apr-20-2015 04:30 PM
Mar 18 15
Goodrich Petroleum Corp. Presents at IPAA's OGIS New York, Apr-20-2015 04:30 PM. Venue: Sheraton New York Times Square Hotel, 811 7th Avenue, New York, New York, United States.
Goodrich Petroleum Corp. Declares Series B, C & D Preferred Dividends, Payable on March 16, 2015
Mar 3 15
The board of directors of Goodrich Petroleum Corporation declared a quarterly cash dividend of $0.6719 per share on its 5.375% Series B Cumulative Convertible Preferred Stock, with dividends to be paid on March 16, 2015 to stockholders of record as of March 2, 2015. In addition, the Board has also declared a quarterly cash dividend of $0.625 per depositary share on its 10.00%
Series C Cumulative Preferred Stock, and a quarterly cash dividend of $0.609375 per depositary share on its 9.75% Series D Cumulative Preferred Stock to be paid on March 16, 2015 to stockholders of record as of March 13, 2015.
Goodrich Petroleum Corp. Enters into the Thirteenth Amendment to the Company's Senior Credit Agreement
Mar 2 15
Goodrich Petroleum Corp. announced that on February 26, 2015, the Company entered into the Thirteenth Amendment to the Company's Senior Credit Agreement. The Amendment includes the following key elements: reduces the borrowing base to $200 million on February 26, 2015; on the earlier of (i) April 1, 2015 and (ii) the funding of the $100 million of the Second Lien Notes, borrowing base will be reduced to $150 million; the next regularly scheduled redetermination of borrowing base will occur on October 1, 2015; extends the maturity date of the Senior Credit Agreement to February 24, 2017; eliminates the Company's current Total Debt to EBITDAX covenant and replaces it with a Total Secured Debt to EBITDAX covenant of 2.50x (Total Secured Debt is defined as first and second lien debt and certain other indebtedness secured by a lien on and subsidiaries' property); and revises Minimum Interest Coverage Ratio to 2.00x.