Key Developments: Rosetta Resources Inc (ROSE.OQ)

ROSE.OQ on NASDAQ Stock Exchange Global Select Market

46.85USD
2 Aug 2013
Price Change (% chg)

$-0.27 (-0.57%)
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Latest Key Developments (Source: Significant Developments)

Comstock Resources Inc Announces Closing Of Sale Of West Texas To Rosetta Resources Inc
Tuesday, 14 May 2013 04:10pm EDT 

Comstock Resources Inc announced that it has completed the divestiture of its West Texas operations with the closing of the sale of its oil and gas properties in Reeves and Gaines counties in West Texas to Rosetta Resources Inc. The assets sold had proved reserves of 26.8 million barrels of oil equivalent as of December 31, 2012. Net proceeds received from the sale were $811 million, including adjustments for revenues and expenditures for activity subsequent to January 1, 2013, the effective date of the sale. The sales price is subject to final adjustment after closing to account for any additional revenues or costs attributable to the properties after the effective date. Comstock previously closed on the sale of a portion of its West Texas properties on February 28, 2013 to another party and received net proceeds of $6 million. Comstock incurred selling expenses of approximately $9 million in connection with the divestiture. The proceeds from the sales were used to repay borrowings under the Company's bank credit facility and for other corporate purposes.  Full Article

Rosetta Resources Inc Announces Pricing of $700 Million Senior Notes Offering
Thursday, 18 Apr 2013 08:58am EDT 

Rosetta Resources Inc announced the pricing of its public offering of $700 million in aggregate principal amount of 5.625% Senior Notes due 2021. The notes were priced at par. The sale of the notes is expected to settle on May 2, 2013. The Company intends to use all of the net proceeds from the proposed notes offering to fund a portion of the consideration for its previously announced acquisition of oil and natural gas assets in the Permian Basin from Comstock Resources, Inc. (the Acquisition). If the Acquisition is not consummated by July 15, 2013, or if the purchase and sale agreement is terminated at any time prior to the consummation of the Acquisition, the Company will be required to redeem all of the notes in cash at a redemption price equal to 100% of the aggregate principal amount of the notes, plus accrued and unpaid interest to the date of redemption. J.P. Morgan, Morgan Stanley and Wells Fargo Securities are acting as joint book-running managers of the offering.  Full Article

Rosetta Resources Inc Announces Pricing Of Public Offering Of Common Stock
Thursday, 18 Apr 2013 08:55am EDT 

Rosetta Resources Inc announced that it has priced an underwritten public offering of 7,000,000 shares of the Company's common stock at $42.50 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of common stock. The Company intends to use the net proceeds from this offering to fund a portion of the consideration for its previously announced acquisition of oil and natural gas assets in the Permian Basin from Comstock Resources, Inc. (the Acquisition) and to repay amounts outstanding under the Company's revolving credit facility. Any remaining net proceeds will be used for general corporate purposes. The sale of common stock is expected to settle on April 23, 2013. Credit Suisse and BofA Merrill Lynch are acting as joint book-running managers of the offering.  Full Article

Rosetta Resources Inc Issues FY 2013 Production Guidance
Monday, 15 Apr 2013 06:55am EDT 

Rosetta Resources Inc announced that based on the revised capital guidance and assuming a closing date for the Permian assets on or before May 14, 2013, the Company expects fiscal 2013 average daily production to range from 51-55 MBoe/d or approximately 40% year-over-year production growth.  Full Article

Rosetta Resources Inc Announces $700 Million Senior Notes Offering
Monday, 15 Apr 2013 06:51am EDT 

Rosetta Resources Inc announced that it intends to offer $700 million in aggregate principal amount of senior unsecured notes due 2021. The Company intends to use all of the net proceeds from the proposed notes offering to fund a portion of the consideration for previously announced acquisition of oil and natural gas assets in the Permian Basin from Comstock Resources, Inc. If the Acquisition is not consummated by July 15, 2013, or if the purchase and sale agreement is terminated at any time prior to the consummation of the Acquisition, the Company will be required to redeem all of the notes in cash at a redemption price equal to 100% of the aggregate principal amount of the notes, plus accrued and unpaid interest to the date of redemption. J.P. Morgan, Morgan Stanley and Wells Fargo Securities are acting as joint book-running managers of the offering.  Full Article

Rosetta Resources Inc Announces Public Offering Of Common Stock
Monday, 15 Apr 2013 06:50am EDT 

Rosetta Resources Inc announced that it intends to commence an underwritten public offering of 7,000,000 shares of the Company's common stock. The Company intends to use the net proceeds from this offering to fund a portion of the consideration for previously announced acquisition of oil and natural gas assets in the Permian Basin from Comstock Resources, Inc. and to repay amounts outstanding under the Company's revolving credit facility. Any remaining net proceeds will be used for general corporate purposes. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of common stock. Credit Suisse and BofA Merrill Lynch are acting as joint book-running managers of the offering.  Full Article

Rosetta Resources Inc Announces Resignation Of Chairman, Chief Executive Officer And President
Tuesday, 26 Feb 2013 09:15am EST 

Rosetta Resources Inc announced that effective on February 26, 2013. Randy L. Limbacher is resigning as Chairman, Chief Executive Officer and President. Mr. Limbacher has served as Rosetta's Chief Executive Officer and President since 2007. Mr. Limbacher will be succeeded as Chairman, Chief Executive Officer and President by James E. Craddock, who has served as Rosetta's Senior Vice President of Drilling and Production Operations. John E. Hagale will remain Executive Vice President and Chief Financial Officer of the Company and will report to Mr. Craddock.  Full Article

Rosetta Resources Inc Sees FY 2012 Production Guidance At High End Of Prior Range
Wednesday, 7 Nov 2012 04:00pm EST 

Rosetta Resources Inc announced that it now anticipates exiting fiscal 2012 2012 production guidance at the high end of the Company's previously forecasted exit rate range of 39-44 MBoe/d.  Full Article

Rosetta Resources Inc. Reaffirms FY 2012 Production Guidance
Tuesday, 7 Aug 2012 05:05pm EDT 

Rosetta Resources Inc. announced that it is reaffirming its fiscal 2012 production guidance range at 35 - 38 MBoe/d.  Full Article

Rosetta Resources Inc. Lowers FY 2012 Production Guidance
Tuesday, 8 May 2012 04:47pm EDT 

Rosetta Resources Inc. announced that for fiscal 2012, it expects average production between 35 - 38 MBoe/d.  Full Article

Rosetta's Permian deal to cut dependence on Eagle Ford

- Oil and natural gas producer Rosetta Resources Inc will buy some of Comstock Resources Inc's oil-rich acreage in West Texas's Permian Basin for about $768 million to reduce its dependence on the Eagle Ford shale in the same state.

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