Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse MKT  >  SRC Energy Inc    SRCI

SRC ENERGY INC (SRCI)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweets
OFFRE

SRC Energy Inc :. Announces Public Offering of Common Stock

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/10/2017 | 03:02pm CEST

DENVER - SRC Energy Inc. (NYSE Amex:SRCI) ('SRC' or the 'Company'), a U.S. oil and gas exploration and production company with operations focused on the Wattenberg Field in the Denver-Julesburg Basin, today announced that it intends to offer for sale 35,000,000 shares of its common stock in an underwritten public offering.

The Company intends to grant the underwriters an option for 30 days to purchase up to an additional 5,250,000 shares of the Company's common stock. Credit Suisse Securities (USA) LLC and J.P. Morgan are acting as joint book-running managers for the offering.

The Company intends to use the net proceeds from the offering to finance a portion of the Company's previously announced acquisition of an aggregate of approximately 30,200 net acres in Weld County, Colorado, to pay related fees and expenses, to redeem or repurchase its existing 9% senior notes due 2021, and for general corporate purposes. If the contemplated acquisition is not completed for any reason, the Company intends to use the net proceeds from this offering for general corporate purposes.

The offering is being made pursuant to an effective shelf registration statement of the Company previously filed with the Securities and Exchange Commission (the 'SEC'). The offering may be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the preliminary prospectus supplement for the offering and the accompanying prospectus may be obtained on the SEC's website at www.sec.gov, or by sending a request to: Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, via telephone at 1-800-221-1037, or by e-mailing newyork.prospectus@credit-suisse.com; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone at 1-866-803-9204, or by e-mailing prospectus-eq_fi@jpmchase.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About SRC Energy Inc.

SRC Energy Inc. is a domestic oil and natural gas exploration and production company. SRC's core area of operations is in the Wattenberg Field of the Denver-Julesburg Basin. The Company's corporate offices are located in Denver, Colorado.

Important Cautions Regarding Forward-Looking Statements

Statements in this news release related to the Company's public offering of common stock, and all other statements other than statements of historical fact are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from the forward-looking statements. The Company urges you to carefully review and consider the cautionary statements made in this press release, the registration statement, the 'Risk Factors' section of the preliminary prospectus supplement for the offering and the Company's Annual Report on Form 10-K for the year ended December 31, 2016 filed with the SEC on February 23, 2017, and other filings with the SEC for further information on risks and uncertainties that could affect the Company's business, financial condition and results of operations. The Company cautions you not to place undue reliance on forward-looking statements, which speak only as of the date made.

The Company undertakes no obligation to update any forward-looking statements in order to reflect any event or circumstance occurring after the date of this release or currently unknown facts or conditions or the occurrence of unanticipated events. All forward-looking statements are qualified in their entirety by this cautionary statement.

Contact:

Tel: 720-616-4308

Email: jrichardson@srcenergy.com

(C) 2017 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
CREDIT SUISSE GROUP 0.23% 15.265 Delayed Quote.-12.27%
SRC ENERGY INC 0.79% 8.95 Delayed Quote.4.10%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on SRC ENERGY INC
08/03SRC ENERGY : Reports Second Quarter 2018 Financial and Operating Results
AQ
08/02SRC ENERGY : 2Q Earnings Snapshot
AQ
08/01SRC ENERGY : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RES..
AQ
08/01SRC ENERGY INC. : Results of Operations and Financial Condition (form 8-K)
AQ
08/01SRC ENERGY INC : . Reports Second Quarter 2018 Financial and Operating Results
AQ
07/25SRC ENERGY INC : . Issues Preliminary Second Quarter 2018 Results
AQ
07/23SRC ENERGY INC. : Results of Operations and Financial Condition (form 8-K)
AQ
07/23SRC ENERGY INC : . Issues Preliminary Second Quarter 2018 Results; Provides an O..
AQ
06/22SRC ENERGY : to cap west Greeley wells that caused evacuation of stadium near No..
AQ
06/04SRC ENERGY INC : Free Research Report as SRC Energy's Quarterly Earnings Advance..
AC
More news
News from SeekingAlpha
09/21SRC ENERGY : 2 Issues To Clear Before Upside 
09/05DJ BASIN PURE PLAYS AND INITIATIVE 9 : From Oil Industry's Vantage 
08/31DJ BASIN PURE PLAYS AND INITIATIVE 9 : An Entry Opportunity? 
08/30Colorado drillers slide after ban measure makes way to November ballot 
08/30WALL STREET BREAKFAST : Fresh Pain For EM Currencies 
Financials ($)
Sales 2018 653 M
EBIT 2018 322 M
Net income 2018 253 M
Debt 2018 564 M
Yield 2018 -
P/E ratio 2018 8,12
P/E ratio 2019 5,99
EV / Sales 2018 4,16x
EV / Sales 2019 3,05x
Capitalization 2 154 M
Chart SRC ENERGY INC
Duration : Period :
SRC Energy Inc Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 14,0 $
Spread / Average Target 58%
EPS Revisions
Managers
NameTitle
Lynn A. Peterson Chairman, President & Chief Executive Officer
Mike Eberhard Chief Operating Officer & Vice President
James P. Henderson Chief Financial Officer & Executive VP-Finance
Raymond E. McElhaney Independent Director
Jack N. Aydin Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
SRC ENERGY INC4.10%2 154
CONOCOPHILLIPS38.97%87 576
CNOOC LTD26.74%83 622
EOG RESOURCES10.70%69 047
OCCIDENTAL PETROLEUM CORPORATION7.56%60 589
CANADIAN NATURAL RESOURCES LIMITED-7.01%39 498