Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


Last $0.22 USD
Change Today +0.01 / 4.83%
Volume 8.1K
As of 8:04 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

saratoga resources inc/texas (SARA) Snapshot

Open
$0.21
Previous Close
$0.21
Day High
$0.22
Day Low
$0.21
52 Week High
06/3/14 - $2.72
52 Week Low
01/29/15 - $0.14
Market Cap
6.7M
Average Volume 10 Days
44.8K
EPS TTM
$-1.22
Shares Outstanding
31.0M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for SARATOGA RESOURCES INC/TEXAS (SARA)

Related News

No related news articles were found.

saratoga resources inc/texas (SARA) Related Businessweek News

No Related Businessweek News Found

saratoga resources inc/texas (SARA) Details

Saratoga Resources, Inc., an independent oil and natural gas company, acquires, exploits, produces, and develops crude oil and natural gas properties in the United States. Its properties consist of 52,103 acres under leases, including 32,289 acres gross/net located in the transitional coastline in protected in-bay environments on parish and state leases in south Louisiana; and 19,814 acres gross/net under federal leases in the shallow Gulf of Mexico shelf. As of December 31, 2013, the company had total proved reserves of 17.2 million barrels of crude oil equivalent consisting of 9.2 million barrels of oil and 48.0 billion cubic feet of natural gas; and probable reserves of 16.8 million barrels of crude oil equivalent comprising 6.9 million barrels of oil and 59.5 billion cubic feet of natural gas. Saratoga Resources, Inc. was founded in 1990 and is based in Houston, Texas.

34 Employees
Last Reported Date: 05/14/14
Founded in 1990

saratoga resources inc/texas (SARA) Top Compensated Officers

Co-Founder, Chairman and Chief Executive Offi...
Total Annual Compensation: $311.1K
President and Director
Total Annual Compensation: $311.1K
Vice President of Finance & Accounting and Co...
Total Annual Compensation: $160.0K
Compensation as of Fiscal Year 2013.

saratoga resources inc/texas (SARA) Key Developments

Saratoga Resources Updates on Extension of Forbearance Agreements with Senior Lenders; Announces Executive Appointments

Saratoga Resources announced that it has entered amendments extending the terms of the existing forbearance agreements. Amendments extending the terms of the existing forbearance agreements with (i) all of the holders of notes (the first lien notes) in the amount of $54.6 million issued under that certain Indenture dated as of November 22, 2013 (the first lien indenture), by and among the company and its subsidiaries and The Bank of New York Mellon Trust Company, N.A., as trustee (the First Lien Trustee); and (ii) 75% or more of the holders of notes (the second lien notes) in the amount of $125.2 million issued under that certain Indenture dated as of July 12, 2011, as supplemented or amended (the second lien indenture), by and among the company and its subsidiaries and The Bank of New York Mellon Trust Company, N.A., as trustee (the second lien trustee). Pursuant to the terms of the amended forbearance agreements, the forbearance period under the existing forbearance agreements has been extended until April 30. Pursuant to that engagement, the company has appointed Jeff N. Huddleston, of CMS, as Interim Chief Financial Officer, and John T. Young, Jr., also of CMS, as Strategic Alternatives Officer. Messrs. Huddleston, Young and CMS will work closely with management, the independent directors and the board with a view to maximizing value and achieving a satisfactory restructuring or repayment of the Senior Debt.

Saratoga Resources Announces Forbearance Agreements with Senior Lenders

Saratoga Resources Inc. announced that it has entered into a forbearance agreement with all of the holders of notes in the amount of $54.6 million issued under that certain Indenture dated as of November 22, 2013, by and among the Company and its subsidiaries and The Bank of New York Mellon Trust Company, N.A., as trustee and a forbearance agreement with 75% or more of the holders of notes in the amount of $125.2 million issued under that certain Indenture dated as of July 12, 2011, as supplemented or amended by and among the company and its subsidiaries and The Bank of New York Mellon Trust Company, N.A., as trustee. Pursuant to the terms of the First Lien Forbearance Agreement, the holders of the First Lien Notes will forbear from exercising any rights or remedies that the First Lien Lenders or the First Lien Trustee may have against the company under the First Lien Indenture until the earlier of March 16, 2015 or the occurrence of an event of default within the meaning of the First Lien Forbearance Agreement. Under the terms of the First Lien Forbearance Agreement, Saratoga will pay, by February 2, 2015, the accrued and unpaid interest, with interest at the default rate, originally scheduled to be paid on December 31, 2014. The Second Lien Forbearance Agreement is substantially identical to the First Lien Forbearance Agreement except that Saratoga is not required under the Second Lien Forbearance Agreement to pay, during the Forbearance Period, the scheduled January 1, 2015 interest payment. Under the Second Lien Indenture, action by holders of at least 25% in aggregate principal amount of the Second Lien Notes is required to declare the notes due and payable under the Second Lien Indenture. The Second Lien Forbearance Agreement has been executed by holders of more than 75% in principal amount of the Second Lien Notes. Those holders have agreed that they will not take any steps to enforce any rights of the Second Lien Trustee or the Second Lien Lenders during the Forbearance Period. As previously disclosed, the interest payments scheduled to be made on December 31, 2014, with respect to the First Lien Notes, and January 1, 2015, with respect to the Second Lien Notes, were not made on those dates. However, the interest payments are not in default under the applicable indentures until 30 days after the scheduled payment dates.

Saratoga Resources Inc. Announces Dividend for the Fiscal Third Quarter of 2015, Payable on February 27, 2015

Saratoga Resources announced it will pay a dividend on its common stock for the fiscal third quarter of 2015 of $0.22 per share, up 22% from $0.18 per share paid for the previous quarter. The dividend is payable on February 27, 2015 to shareholders of record on February 2, 2015.

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
SARA:US $0.22 USD +0.01

SARA Competitors

Market data is delayed at least 15 minutes.

Company Last Change
Cubic Energy Inc $0.05 USD -0.0001
Miller Energy Resources Inc $0.77 USD -0.0326
PostRock Energy Corp $2.17 USD +0.06
Royale Energy Inc $1.65 USD -0.031
Sanchez Production Partners LP $1.91 USD +0.04
View Industry Companies
 

Industry Analysis

SARA

Industry Average

Valuation SARA Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.1x
Price/Book 0.5x
Price/Cash Flow NM Not Meaningful
TEV/Sales NM Not Meaningful
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact SARATOGA RESOURCES INC/TEXAS, please visit www.saratogaresources.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.