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Delphi Energy Corp (DEE.TO)

DEE.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Delphi Energy announces close of $65 mln financing
Wednesday, 7 Jun 2017 09:14am EDT 

June 7 (Reuters) - Delphi Energy Corp :Delphi Energy Corp. Announces close of $65 million financing.Delphi Energy Corp- plans to add a third rig in fall and double its planned drilling program for remainder of 2017 through spring breakup in 2018.Delphi Energy Corp- anticipates production in q4 of 2018 to increase by approximately 40 percent.Delphi Energy Corp - ‍run-rate cash flow in q4 of 2018 is anticipated to be in context of $100 million to $110 million​.Delphi Energy Corp- total debt to cash flow ratio is anticipated to remain at or below company's target of 1.5 times through 2018.Delphi Energy Corp- funds from financing will initially be used to repay bank debt leaving company with an undrawn $80 million credit facility.  Full Article

Delphi Energy completes annual credit facility review
Thursday, 1 Jun 2017 07:45am EDT 

June 1 (Reuters) - Delphi Energy Corp ::Delphi Energy completes annual credit facility review.Delphi Energy Corp says credit facility is expected to be largely undrawn upon closing of announced financing transaction.Delphi Energy Corp - extended term of its $80 million senior secured revolving credit facility until may 29, 2018.  Full Article

Delphi Energy Corp announces financing with strategic partner to further accelerate growth at its Bigstone Montney Asset
Wednesday, 24 May 2017 09:11am EDT 

May 24 (Reuters) - Delphi Energy Corp : :Delphi Energy Corp announces financing with strategic partner to further accelerate growth at its bigstone montney asset.Delphi Energy Corp - has entered into agreements with investors for a $65 million financing transaction.Delphi Energy Corp - principal use of proceeds will be to expand company's drilling plans for winter of 2017/2018.Delphi Energy Corp - proceeds from financing transaction will temporarily reduce bank indebtedness and working capital deficits.Delphi Energy Corp - run-rate cash flow in q4 of 2018 is anticipated to be in context of $100 million to $110 million.Delphi Energy Corp - post financing, delphi's $80 million credit facility is expected to be undrawn as at june 30, 2017.Delphi Energy Corp - total debt to cash flow ratio is anticipated to remain at or below company's target of 1.5 times through 2018.Delphi Energy - anticipates production in q4 of 2018 to increase by approximately 40 percent, from its current q4 expectation of 11,000 to 11,500 boe/d.Delphi Energy Corp - company has agreed to sell, on a private placement basis, 27.6 million common shares at an issue price of $1.27 per common share.Delphi Energy - agreed to issue an additional $30 million principal amount of currently outstanding 10% senior secured collateralized exchange listed notes.Delphi Energy Corp - re-opening of cel(tm) notes was priced at 100pct of par to yield 10pct and will not be issued with any warrants.  Full Article

Delphi Energy Q1 adjusted FFO per share C$0.05
Wednesday, 10 May 2017 11:58pm EDT 

May 11 (Reuters) - Delphi Energy Corp ::Delphi energy reports first quarter 2017 results.Q1 adjusted FFO per share c$0.05.Qtrly produced an average of 8,198 barrels of oil equivalent per day.Generated qtrly adjusted funds from operations of $8.2 million.Qtrly ffo per share $0.05.Current production capability remains at upper end of our 2017 annual production guidance of 9,000 to 9,500 boe/d.Continues to forecast absolute and per share growth across all measures during 2017.  Full Article

Delphi Energy Corp provides operations update on winter program
Monday, 10 Apr 2017 08:00am EDT 

Delphi Energy Corp : Delphi Energy Corp provides operations update on successful winter program and participation at CAPP Scotiabank investment symposium . Delphi Energy Corp - reconfirms confidence in 2017 development plan to grow year-end exit production for 2017 to between 11,000 boe/d and 12,000 boe/d .Delphi Energy Corp - continues to forecast absolute and per share growth across all measures during 2017.  Full Article

Delphi Energy hires Mark Behrman as CFO
Monday, 3 Apr 2017 08:00am EDT 

Delphi Energy Corp :Delphi Energy Corp hires Mark Behrman as Chief Financial Officer.  Full Article

Delphi Energy Corp Q4 adj FFO per share $0.05
Wednesday, 15 Mar 2017 09:44pm EDT 

Delphi Energy Corp : Delphi Energy Corp. Reports 2016 year end results, reserves and provides operations update . Delphi Energy Corp - production volumes in q4 of 2016 averaged 7,127 boe/d . Delphi Energy Corp - qtrly adjusted funds from operations per share $0.05 . Delphi Energy - weather delays in Q3 & Q4 pushed on-stream dates for 2 wells of 2016 program until late December, impacting q4 production volumes .Says Delphi's 2017 capital program is forecast to be $65.0 to $70.0 million.  Full Article

Delphi Energy says CFO Brian Kohlhammer has left company
Thursday, 19 Jan 2017 08:07pm EST 

Delphi Energy Corp : Delphi Energy Corp. announces changes to senior management . John Behr has been promoted to vice-president, geosciences . Says has begun an executive search and expects a replacement to be identified in a timely manner .Brian P. Kohlhammer, senior vice-president finance and chief financial officer, has left company to explore other opportunities.  Full Article

Delphi Energy board has approved 2017 capital and operating budget
Wednesday, 11 Jan 2017 08:00am EST 

Delphi Energy Corp : Board of Directors has approved 2017 capital and operating budget . Announcement of a new $80.0 million senior secured credit facility with Alberta Treasury branches . Says Delphi's drilling program in 2017 to more than double as compared to 2016 with addition of a second drilling rig . Delphi's 2017 capital program is forecast to be $65.0 to $70.0 million .2017 cash costs are forecast to decrease by approximately ten to twelve percent over 2016.  Full Article

Delphi Energy announces update to strategic transaction, extension of credit facility review
Wednesday, 30 Nov 2016 08:00am EST 

Delphi Energy Corp : Delphi Energy Corp announces update to strategic transaction and extension of credit facility review . Delphi Energy-expects to execute definitive agreement in relation to strategic arrangement with existing working interest industry partner in coming days . Delphi Energy Corp - is anticipated that closing of transaction will be on, or about, December 22, 2016 .Delphi Energy-current bank syndicate agreed to extend deadline of semi-annual review of $85 million revolving credit facility from Nov 30 to Dec. 31, 2016.  Full Article

BRIEF-Delphi Energy announces close of $65 mln financing

* Delphi Energy Corp. Announces close of $65 million financing