Last $0.19 USD
Change Today -0.005 / -2.56%
Volume 10.9K
DUNR On Other Exchanges
Symbol
Exchange
OTC US
Berlin
As of 8:10 PM 01/23/15 All times are local (Market data is delayed by at least 15 minutes).

dune energy inc (DUNR) Snapshot

Open
$0.20
Previous Close
$0.20
Day High
$0.20
Day Low
$0.19
52 Week High
03/20/14 - $1.90
52 Week Low
01/12/15 - $0.12
Market Cap
13.9M
Average Volume 10 Days
6.4K
EPS TTM
$-0.35
Shares Outstanding
73.1M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for DUNE ENERGY INC (DUNR)

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dune energy inc (DUNR) Details

Dune Energy, Inc., an independent energy company, acquires, explores for, exploits, and develops crude oil and natural gas properties. Its properties cover approximately 74,000 gross acres across 15 producing oil and natural gas fields along the Louisiana/Texas Gulf Coast. As of December 31, 2013, the company’s total proved reserves were 93.1 billion cubic feet of natural gas equivalent consisting of 50.1 billion cubic feet of natural gas and 7.2 million barrels of oil. It sells its oil and gas products primarily to domestic pipelines and refineries. The company was founded in 1998 and is headquartered in Houston, Texas.

34 Employees
Last Reported Date: 03/7/14
Founded in 1998

dune energy inc (DUNR) Top Compensated Officers

Chief Executive Officer, President, Executive...
Total Annual Compensation: $733.3K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $535.6K
Senior Vice President of Land and General Cou...
Total Annual Compensation: $443.3K
Executive Vice President of Business Developm...
Total Annual Compensation: $504.0K
Compensation as of Fiscal Year 2013.

dune energy inc (DUNR) Key Developments

Dune Energy, Inc. Enters into the Amended and Restated Forbearance Agreement and Fifth Amendment to the Amended and Restated Credit Agreement

On January 2, 2015, Dune Energy Inc. entered into the amended and restated forbearance agreement and fifth amendment to the amended and restated credit agreement effective as of December 31, 2014 among the company, certain of the lenders party to the amended and restated credit agreement dated as of December 22, 2011 and Bank of Montreal as administrative agent for the Lenders. On September 30, 2014, the lenders agreed to provide a limited forbearance from exercising their rights and remedies pursuant to the defaults through December 31, 2014 pursuant to the terms of the fourth amendment to amended and restated credit agreement. Under the terms of the amendment, the Lenders agreed to extend the limited forbearance from December 31, 2014 until the business day immediately following the earliest of: the occurrence of any other default or event of default under the Credit Agreement; January 16, 2015 unless the company has delivered to the administrative agent certain documents (the Acceptable Transaction Documents) that demonstrate that the contemplated transactions with EOS Petro Inc. and payment in full of the amounts owed under the credit agreement are reasonably likely to be consummated timely in the opinion of the administrative agent, in its sole discretion; subsequent to the delivery of acceptable transaction documents, abandonment or termination of the agreement and plan of merger, dated as of September 17, 2014, by and among EOS Petro Inc., EOS Merger Sub Inc. and Dune Energy Inc. (the Merger Agreement), or the occurrence of any modification, amendment or express waiver or consent to the Merger Agreement that would result in not paying the amounts owed under the credit agreement in full, without the prior written consent of the Lenders. Additionally, under the terms of the Amendment, the company’s borrowing base shall be maintained at $40,000,000 during the forbearance period and interest payments shall be due January 2, 2015, January 31, 2015 and thereafter the last day of each calendar month. All commitments of the Lenders under the Credit Agreement shall terminate on January 31, 2015 without further notice.

Dune Energy Inc. Enters into Forbearance Agreement and Fourth Amendment to the Amended and Restated Credit Agreement with Lenders

Dune Energy Inc. announced it has entered into a Forbearance Agreement and Fourth Amendment dated September 30, 2014 to the Amended and Restated Credit Agreement between the company and its lenders dated December 22, 2011, as amended. As previously reported, the company was in default of the Credit Agreement at the end of the second quarter because the Total Debt to EBITDAX was 5.28 to 1.0, which was well over the required ratio of 4.0 to 1.0. This default has led to concerns as to whether the company could continue as a going concern. Prior to the end of the second quarter, the Credit Agreement lenders had also notified the company that its borrowing base under the revolver would be reduced to $37.5 million (including outstanding letters of credit) on October 1, 2014. Under the terms of the Amendment, the creditors have agreed to a borrowing base availability at $40 million and to waive the event of default, as well as any current ratio covenant defaults as of September 30, 2014, until the earlier to occur of December 31, 2014 or the closing or termination of the merger of the company under the terms of the Agreement and Plan of Merger, dated September 17, 2014, by and among EOS Petro Inc., EOS Merger Sub Inc. and Dune Energy Inc.; provided that the company does not incur any additional Defaults.

Dune Energy Inc. Reports Unaudited Consolidated Earnings and Operating Results for the Second Quarter and Six Months Ended June 30, 2014

Dune Energy Inc. reported unaudited consolidated earnings and operating results for the second quarter and six months ended June 30, 2014. For the quarter, the company's total revenues were $13,093,311 compared to $16,783,479 a year ago. Operating loss was $30,013,011 compared to operating income of $632,469 a year ago. Net loss was $33,196,137 or $0.45 per basic and diluted share compared to $1,341,362 or $0.02 per basic and diluted share a year ago. For the six months, the company's total revenues were $25,082,321 compared to $29,868,292 a year ago. Operating loss was $29,536,577 compared to operating income of $674,261 a year ago. Net loss was $35,690,159 or $0.49 per basic and diluted share compared to $4,551,537 or $0.07 per basic and diluted share a year ago. Net cash provided by operating activities was $4,154,137 compared to $10,964,703 a year ago. Purchase of furniture and fixtures was $3,033 compared to $145,477 a year ago. For the second quarter, the company reported production volumes in the second quarter were 107 Mbbls of oil and 0.43 Bcf of natural gas, or 179 Mboe. This compares with 135 Mbbls of oil and 0.62 Bcf of natural gas, or 238 Mboe for the second quarter of 2013. Production decreased 25% in the second quarter of 2014 as compared to the second quarter of 2013. During the second quarter of 2014 oil accounted for 60% of the total production volumes on an equivalent basis; however, oil revenue accounted for 84% of the total revenue.

 

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