Key Developments: Endeavour International Corp (END.N)

END.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Endeavour International Corp Announces New CFO
Thursday, 14 Feb 2013 02:01am EST 

Endeavour International Corp announced that the Board of Directors announced the election of Catherine 'Cathy' L. Stubbs to senior vice president and Chief Financial Officer, effective immediately.  Full Article

Endeavour International Corp Announces Chief Financial Officer Resignation
Monday, 29 Oct 2012 09:00am EDT 

Endeavour International Corp announced that J. Michael Kirksey has submitted his resignation, effective immediately, as Executive Vice President and Chief Financial Officer, in order to spend more time in other areas of interest. The Company has engaged SpencerStuart to begin immediately the search process for a new Chief Financial Officer.  Full Article

Endeavour International Corp Announces Pricing Of $54 Million Tack On Offering Of Senior Notes
Wednesday, 10 Oct 2012 01:05pm EDT 

Endeavour International Corp announced the pricing of its private placement of an additional $54 million aggregate principal amount of its 12% first priority notes due 2018 (the Notes). The Notes were priced at 109% of par, at a yield worst of 9.436%. The offering is expected to close on October 15, 2012, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering to redeem, repurchase or otherwise retire its outstanding 12% Senior Subordinated Notes due 2014 and to finance a portion of the construction, improvement and other capital costs related to its U.S. and U.K. oil and natural gas properties.  Full Article

Endeavour International Corp Announces $54 Million Tack On Offering Of Senior Notes
Wednesday, 10 Oct 2012 08:16am EDT 

Endeavour International Corp announced that it intends to offer approximately $54 million aggregate principal amount of its 12% first priority notes due 2018 in a private placement to eligible purchasers. On February 23, 2012, Endeavour completed a private placement of $350 million aggregate principal amount of its 12% first priority notes due 2018. The new notes and the notes originally issued on February 23, 2012 will be treated as a single class of debt securities under the same indenture. The Company intends to use the net proceeds from the offering to redeem, repurchase or otherwise retire its outstanding 12% Senior Subordinated Notes due 2014 and to finance a portion of the construction, improvement and other capital costs related to its U.S. and U.K oil and natural gas properties.  Full Article

Endeavour International Corp Announces Closing of Common Stock Offering
Monday, 18 Jun 2012 06:05pm EDT 

Endeavour International Corp announced the closing of its previously-announced public offering of 8,625,000 shares of its common stock, which includes 1,125,000 shares issued and sold pursuant to the full exercise of the underwriter's over-allotment option. Endeavour intends to use the net proceeds from the offering to fund its current development operations. Any remaining net proceeds will be used for general corporate purposes. Global Hunter Securities, LLC acted as sole book-running manager for the offering.  Full Article

Endeavour International Corp Prices Public Offering Of Common Stock
Wednesday, 13 Jun 2012 09:18am EDT 

Endeavour International Corp announced that it has priced an underwritten public offering of 7.5 million shares of common stock at a price to the public of $7.50 per share. The net proceeds to Endeavour from this offering are expected to be approximately $53 million, after deducting underwriting discounts and commissions and other estimated expenses. Endeavour has granted the underwriter a 30-day option, solely to cover over-allotments, if any, to purchase up to 1.125 million shares of common stock, which would result in approximately $8 million additional net proceeds if exercised in full. The offering is expected to close on or about June 18, 2012, subject to the satisfaction of customary closing conditions. Endeavour intends to use the net proceeds from the offering to fund current development operations. Any remaining net proceeds will be used for general corporate purposes. Global Hunter Securities, LLC is acting as sole book-running manager for the offering.  Full Article

Endeavour International Corp Announces Public Offering Of Common Stock
Tuesday, 12 Jun 2012 04:13pm EDT 

Endeavour International Corp announced the commencement, subject to market conditions, of an underwritten public offering of shares of its common stock. In addition, Endeavour intends to grant the underwriter a 30-day option, solely to cover over-allotments, to purchase additional shares of its common stock. Endeavour intends to use the net proceeds from the offering to fund its current development operations. Any remaining net proceeds will be used for general corporate purposes. Global Hunter Securities, LLC is acting as sole book-running manager for the offering.  Full Article

Endeavour International Corp Completes Acquisition Of Additional Working Interest In Alba Field
Thursday, 31 May 2012 01:28pm EDT 

Endeavour International Corp announced that it had completed the acquisition of the additional 23.43% working interest in the Alba field from ConocoPhillips. The Alba oil field, located in Block 16/26a, in the Central North Sea is a late Eocene reservoir that has been producing since 1994. Endeavour's newly acquired working interest combined with its previous ownership position takes the company's total working interest in the field to 25.68%.  Full Article

Endeavour International Corp Announces Closing Of Private Placement Offering
Thursday, 23 Feb 2012 01:33pm EST 

Endeavour International Corp announced the closing of its previously announced private placement of $350 million aggregate principal amount of 12% first priority notes due 2018 (the First Priority Notes) and $150 million aggregate principal amount of 12% second priority notes due 2018 (the Second Priority Notes, and, together with the First Priority Notes, the 2018 Notes). The Company intends to use the net proceeds from the offering to fund its previously announced acquisition of interests in three oil fields in the United Kingdom North Sea, to repay all amounts outstanding under its Senior Term Loan due 2013 and for general corporate purposes.  Full Article

Endeavour International Corp Announces Pricing of $500 Million Offering of Senior Notes
Monday, 13 Feb 2012 06:15pm EST 

Endeavour International Corp announced the pricing of its private placement of $350 million aggregate principal amount of 12% first priority notes due 2018 (the First Priority Notes) and $150 million aggregate principal amount of 12% second priority notes due 2018 (the "Second Priority Notes," and, together with the First Priority Notes, the 2018 Notes). Each series of 2018 Notes was priced at 96% of par, at a yield to maturity of 12.975% for the First Priority Notes and 12.954% for the Second Priority Notes, respectively. The offering is expected to close on February 23, 2012, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering to fund its previously announced acquisition of interests in three oil fields in the United Kingdom North Sea, to repay all amounts outstanding under its Senior Term Loan due 2013 and for general corporate purposes. Prior to the closing of the acquisition in the North Sea, the net proceeds of the offering will be placed in an escrow account.  Full Article

Endeavour International to explore sale; shares fall on well damage

- Oil and gas producer Endeavour International Corp said it would explore a sale of the company as it was disappointed by the "dislocation" between its share price and the underlying value of its assets.

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