Mon, Mar. 9, 7:02 PM
- BPZ Energy (NYSE:BPZ) files for Chapter 11 bankruptcy protection after skipping a $60M payment owed to bondholders earlier this month.
- BPZ says the drop in oil prices and the general industry downturn had made it difficult to refinance its debt.
- The company explores and produces oil and gas on 1.9M acres offshore and onshore in Peru and in Ecuador.
Mon, Mar. 2, 3:56 PM
- The NYSE says it is suspending trading in BPZ Energy (BPZ -36%) and will begin delisting proceedings, as the share price is "abnormally low" and no longer suitable for a listing on the exchange.
- BPZ earlier said it is exercising a 10-day grace period for repaying the $62M in principal and interest owed on its convertible bonds, and that it is in talks with some of the bondholders about a potential restructuring of the debt.
Tue, Feb. 10, 10:36 AM
- BPZ Energy (BPZ -25.1%) is downgraded to Sell from Hold with a $0.20 stock price target at Miller Tabak, which says that with BPZ's bonds trading at $0.20-$0.25 on the dollar and a March 1 deadline for $60M of convertible bonds, it appears that BPZ's creditors do not feel there is a viable solution to BPZ's liquidity needs in the short-term.
- The firm believes BPZ's proved developed producing reserves have real value, but no PV-10 value was provided for the PDPs in the recent press release.
Sun, Jan. 4, 3:49 PM
- The following stocks were the Russell 2000's worst performers in 2014:
- KWK -93.5%. WLT -91.7%. AMZG -89.5%. PHMD -88.2%. EXXI -88%. RGDO -86.8%. REN -85.4%. HERO -84.7%. EOX -84.3%. MCP -94.3%. CVEO -84.2%. BPZ -84.1%. FWM -82.6%. MILL -82.2%. NADL -81.6%. VRNG -81.4%. CYTX -81%. SALT -80.5%. PRKR -80%. MBII -79.7%. NTLS -79.2%. COVS -78.9%. KEG -78.9%. MM 78 MPO -77%. ANR -76.6%. EXEL -76.5%. SZYM -76.3%. CONN -76.2%. ANV -75.5%. GALT -75.5%. ZQK -74.8%. ARO -74.5%. REXX -74.1%. GDP -74%. FUEL -73.8%. QRHC -73.7%. VTG -73.4%. RLOC -73%. XONE -72.2%.
Dec. 3, 2014, 2:36 PM
- BPZ Resources (BPZ -29.6%) says it has hired advisers and formed a special Board committee to assist with analyzing various strategic alternatives and addressing its liquidity and capital structure.
- BPZ is downgraded to Sell from Buy at Wunderlich, saying there is no way to reasonably forecast how the search for strategic alternatives will unfold or how long the process could take.
Nov. 6, 2014, 6:55 PM
Nov. 5, 2014, 5:35 PM
- ABCO, ACET, AEL, AGO, AIRM, AL, ALIM, AMRN, ANAC, ANET, APEI, ARC, AUQ, BBRG, BCEI, BEBE, BNFT, BPZ, BRKR, BRS, CFN, CLVS, CPST, CSC, CVT, DAR, DIOD, DIS, DVA, DXCM, EAC, EBS, ECOM, ECPG, ED, EGOV, ELON, ENOC, ENV, EVC, EZPW, FF, FI, FICO, FIVN, FNGN, FSLR, FTEK, FWM, FXCM, GST, GXP, HCI, HGR, HNSN, HPTX, HTGC, IGT, INFI, JJSF, KING, KOG, KTOS, LGF, LNT, LOCO, MATX, MDRX, MDVN, MITK, MM, MNST, MNTX, MRC, MSCC, MTD, NES, NFG, NKTR, NOG, NU, NVDA, NVDQ, OLED, ONTY, PCTY, PFMT, PRO, PSEC, PSIX, QTWO, RBCN, RENT, RIG, ROVI, RPTP, RRMS, RSYS, RXN, SAPE, SF, SFM, SLXP, SPPI, SSTK, SWKS, TCRD, TKMR, TRMR, TRNX, TUMI, UBNT, UEPS, UNXL, VOLC, VRNS, VVC, WAGE, WIFI, XOMA, XOXO, YUME, ZGNX, ZNGA
Oct. 17, 2014, 12:13 PM
- BPZ Energy (BPZ -3.8%) says it has withdrawn a private placement of $150M in senior secured notes due 2019 due to adverse market conditions.
- BPZ says the company's ~$79M cash position at the end of Q3, continued production and cash flow growth this year has given it confidence that it would obtain necessary financing in a timely manner.
Sep. 23, 2014, 12:17 PM
- In an operations update, BPZ Energy (BPZ -1.5%) says that while it foresees lower Q3 production rates at Block Z-1, it expects output from new wells and improved rates resulting from its gas lift program will allow for improved levels of production and cash flow at year's end.
- Brean Capital reiterates its Buy rating and $4 price target even as it cut its FY 2014 production expectations to 2,690 boe/day vs. its earlier outlook for 3.1K boe/day after BPZ says overall production so far in Q3 averaged 2,387 boe/day.
Aug. 7, 2014, 4:33 PM
Aug. 6, 2014, 5:35 PM
- AGO, AHT, AIRM, AL, ALIM, ALJ, ALNY, AMRN, AMRS, ANAC, ANET, ASYS, ATLS, AUQ, BCEI, BCOR, BIOL, BNFT, BNNY, BOFI, BPZ, CARA, CBS, CENT, CFN, CLNE, CLVS, CPST, CSC, CUBE, CVT, DAR, DIOD, DMD, DV, EAC, EBS, ECPG, ED, EGOV, ELX, ENOC, FF, FI, FRT, FWM, FXCM, GHDX, GST, GXP, HGR, HTGC, IRG, KTOS, LGF, MASI, MDVN, MED, MELI, MNST, NES, NFG, NOG, NVDA, NWSA, OLED, OPLK, PFMT, PODD, PRO, PSIX, QTWO, RATE, RBCN, RENT, RPTP, RRMS, SCTY, SEM, SFM, SHOR, SLXP, SPPI, SSTK, TEAR, TRNX, TRUE, TUMI, UBNT, UNXL, VOLC, VVUS, WIFI, XOMA, ZNGA,
May 8, 2014, 5:05 PM
May 7, 2014, 5:35 PM
- ABCO, ACET, ADEP, AHT, AIRM, AL, ALIM, ALNY, AMRS, APEI, AREX, ATHX, AUQ, BCEI, BEBE, BIOS, BPZ, BRKS, CBS, CLNE, CLVS, CPE, CSC, CUTR, DAR, DEPO, DIOD, DMD, DVR, EAC, EBS, ECPG, ED, ELON, ENOC, ENV, EVC, FF, FRT, FUEL, FXEN, GCAP, GRUB, GXP, JAZZ, JCOM, JMBA, KRO, MDRX, MDVN, MELI, MNST, MNTX, MTD, NES, NFG, NOG, NUAN, NVDA, OLED, ORA, PAAS, PFMT, PPO, PXLW, QTWO, RPTP, SF, SGMS, SLW, SLXP, SPPI, SSRI, SSTK, SYMC, TNGO, TUES, TUMI, UBNT, UEPS, UNXL, WAGE, WIFI, XNPT, ZGNX.
Mar. 7, 2014, 11:33 AM
- BPZ Resources (BPZ +0.2%) is reiterated with a Buy rating and $6 price target at Wunderlich, which views recent test results at BPZ's Albacora A-19D well as positive news.
- The well tested at 2,106 bbl/day, in-line with the first new well A-18D, which tested at a 24-hour initial rate of 2,250 bbl/day, which the firm says shows the Albacora field is delivering consistent flow rate and the reservoir is behaving predictably.
- Q4 results were roughly in-line but the firm notes a big improvement in cost structure, as cash costs came in at $33/bbl vs. expectations of $54/bbl, and cash margin was $67/bbl vs. $33/bbl actual; the firm says BPZ could start going earnings-positive before Q1 2015 if the trend continues and stabilizes.
Mar. 6, 2014, 6:38 PM
Mar. 6, 2014, 12:10 AM
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