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Security Profile
- Security Type
- Common Stock
- Market Cap
- Micro Cap · $51 Million
- Previous Symbol
- LONEQ (changed 11/30/2020)
Business: Lonestar Resources US, Inc. is an independent oil and gas company that engages in the acquisition, exploration, and production of unconventional oil and gas reserves in the United States. The company primarily focuses on Eagle Ford Shale that covers an area of 23,079 net acres located in seven Texas counties. It also holds a 65.0% working interest in the West Poplar asset that covers an area of 32,625 net acres in the Bakken and Three Forks plays in the Roosevelt County, Montana.
Notes: <b>September 15, 2020</b> -- Lonestar Resources US Inc. (the "Company" or "Lonestar") (NASDAQ: LONE) today announced that it and certain of its direct and indirect wholly-owned domestic subsidiaries (collectively with the Company, the "Debtors") have entered into a Restructuring Support Agreement (the "Support Agreement") with its largest stakeholders that will eliminate approximately $390 million in aggregate debt obligations and preferred equity interests. <p>
Under the terms of the Support Agreement, approximately $250 million of the Company's 11.250% Senior Notes due 2023 (the "Notes") will be converted to equity and accrued interest thereon will be extinguished. In addition, lenders under the Company's revolving credit facility who agree to accept the Plan (as defined below) will, among other things, receive their pro rata share of warrants (the "New Warrants") to purchase up to 10% of the new equity interests in the Company (subject to dilution only by the issuance of new equity interests under a management incentive plan ("MIP Equity")), revolving loans under the exit revolving credit facility, and term loans under the second-out exit term facility. Holders of preferred equity interests in the Company will receive their pro rata share of 3% of the new equity interests in the Company (subject to dilution by the MIP Equity and the New Warrants) and holders of existing Class A Common Stock in the Company will receive their pro rata share of 1% of the new equity interests in the Company (subject to dilution by the MIP Equity and New Warrants). <p>
Under the terms of the Support Agreement, the Debtors would effectuate the proposed transactions through a prepackaged plan of reorganization (the "Plan") under Chapter 11 of the U.S. Bankruptcy Code ("Chapter 11"). The Company has already obtained support for the proposed transactions from lenders holding 100 percent of the aggregate principal amount outstanding under its revolving credit facility, noteholders holding approximately 67.1 percent of the aggregate principal amount outstanding under its Notes, and holders of 100 percent of its preferred equity interests. <p> <b>July 5, 2016 </b> -- Lonestar Resources US Inc., a Delaware corporation (the Company), is pleased to announce the completion of its previously announced transaction to redomicile the parent company of the Lonestar group of companies from Australia to Delaware. In connection with the transaction, the Company issued to the former shareholders of Lonestar Resources Ltd one share of its Class A common stock for every two ordinary shares of Lonestar Resources Ltd issued and outstanding prior to the effective time of the transaction, which had the effect of a 1-for-2 reverse stock split and resulting in the reduction of shares outstanding from 15,044,051 to 7,521,788. The Company's Class A common stock began trading on the NASDAQ Global Market on a post-split basis on July 5, 2016 under LONE.
The Company intends to delist Lonestar Resources Limited from the Australian Stock Exchange at the close of trading on Wednesday, July 6, 2016.
Company Contact
- CEO
- Frank D. Bracken, III
- CFO
- Douglas W. Banister
- Headquarters
- 600 Bailey Avenue, Suite 200, Fort Worth, TX 76107
- Phone
- 817-921-1889
- Fax
- 817-806-5112
- Investor Relations
- 817-921-1889