0001104659-20-033185.txt : 20200313 0001104659-20-033185.hdr.sgml : 20200313 20200313165227 ACCESSION NUMBER: 0001104659-20-033185 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20200313 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20200313 DATE AS OF CHANGE: 20200313 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Sundance Energy Inc. CENTRAL INDEX KEY: 0001326089 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36302 FILM NUMBER: 20713531 BUSINESS ADDRESS: STREET 1: 1050 17TH STREET STREET 2: SUITE 700 CITY: DENVER STATE: CO ZIP: 80265 BUSINESS PHONE: (303) 543-5700 MAIL ADDRESS: STREET 1: 1050 17TH STREET STREET 2: SUITE 700 CITY: DENVER STATE: CO ZIP: 80265 FORMER COMPANY: FORMER CONFORMED NAME: Sundance Energy Australia Ltd DATE OF NAME CHANGE: 20050504 8-K 1 tm2012311d2_8k.htm FORM 8-K

 

 

 

UNITED STATES

 

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): March 13, 2020

 

Sundance Energy Inc.
(Exact name of registrant as specified in its charter)

 

Delaware   001-36302   61-1949225
(State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)

 

1050 17th Street, Suite 700 Denver, CO  80265 (303) 543-5700
(Address of principal executive offices, including Zip Code) (Registrant’s telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.001 per share SNDE The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

 

Emerging growth companyx

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨

 

 

 

 

 

 

 

Item 7.01 Regulation FD Disclosure.

 

On March 13, 2020, Sundance Energy Inc. issued a press release discussing its hedge position. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference into this Item 7.01.

 

The information furnished in this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit
No.
  Description of Exhibit
99.1   Press release of Sundance Energy Inc., dated March 13, 2020

 

 

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: March 13, 2020  
   
  SUNDANCE ENERGY INC.
   
   
  By: /s/ Cathy L. Anderson
  Name: Cathy L. Anderson
  Title: Chief Financial Officer

 

 

 

EX-99.1 2 tm2012311d2_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

 

 

Sundance Energy Inc. Announces Current 2020 Hedge Book Covers

7,931 Barrels Per Day at $54.08 Floor Price

 

DENVER, MARCH 13th, 2020 (GLOBE NEWSWIRE) – Sundance Energy Inc. (NASDAQ: SNDE) (“Sundance” or the “Company”) today provided details regarding its current hedge book and recent actions the Company has taken to improve its already robust hedge position to provide price certainty for 2020 and 2021.

 

For the balance of 2020 from April through December, Sundance has hedges in place covering a total of 7,931 barrels of crude oil per day (or 2,181,000 barrels total) at a weighted average floor price of $54.08 per barrel. For the calendar year 2021, Sundance has hedges in place covering a total of 7,430 barrels of crude oil per day (or 2,712,000 barrels total) at a weighted average floor price of $48.92 per barrel. In total, Sundance has 5,581,000 barrels of crude oil hedged through 2023. In 2020 Sundance has 225,000 barrels subject to an initial $50.00 floor price and a $35.00 reparticipating floor price and 18,000 barrels subject to an initial $55.00 floor price and a $30.00 reparticipating floor price. In 2021 Sundance has 300,000 barrels subject to an initial $50.00 floor price and a $35.00 reparticipating floor price.

 

Sundance’s Chief Executive Officer, Eric McCrady, stated, “Sundance’s policy is to lock in hedges when we make capital investments on wells for a period of at least 18 months to lock in attractive economic returns. We also manage our hedge position opportunistically to protect our balance sheet and liquidity position. Sundance’s crude oil hedge position now represents ~90% of analyst’s production forecasts for 2020 and ~80% for 2021. We believe that the certainty these hedges create will provide the Company with a great deal of flexibility in this period of price volatility and market uncertainty. Sundance will be providing additional details around its reduced 2020 capital plan when it reports on its fourth quarter 2019 results on next Monday, March 16, 2020.”

 

 

Page 1 of 2

 

 

 

  

About Sundance Energy Inc.

Sundance Energy Inc. is an independent energy exploration and production company located in Denver, Colorado. The Company is focused on the acquisition and development of large, repeatable oil and natural gas resource plays in North America. Current activities are focused in the Eagle Ford.  A comprehensive overview of the Company can be found on Sundance’s website at www.sundanceenergy.net

 

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.   These statements are identified by the use of the words “project,” “believe,” “estimate,” “expect,” “anticipate,” “intend,” “contemplate,” “foresee,” “would,” “could,” “plan,” and similar expressions that are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on management’s current expectations and beliefs concerning future developments and their potential effect on Sundance. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Sundance will be those that are anticipated. Sundance’s forward-looking statements involve significant risks and uncertainties (some of which are beyond Sundance’s control) and assumptions that could cause actual results to differ materially from Sundance’s historical experience and present expectations or projections. These include, but are not limited to, risks or uncertainties associated with our previously completed redomiciliation (including the ability to recognize any benefits therefrom), the discovery and development of oil and natural gas reserves, cash flows and liquidity, business and financial strategy, budget, projections and operating results, oil and natural gas prices, amount, nature and timing of capital expenditures, including future development costs, availability and terms of capital and general economic and business conditions. You are cautioned not to place undue reliance on forward-looking statements contained in this press release, which speak only as of the date of this press release. Forward-looking statements also are affected by the risk factors described in Sundance’s Annual Report on Form 20-F for the fiscal year ended December 31, 2018, as may be amended, and those set forth from time-to-time in other filings with the SEC. Sundance undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.

 

For more information, please contact:

 

John Roberts Eric McCrady
VP Finance & Investor Relations Chief Executive Officer
Tel: (720) 638-2400 Tel: (303) 543-5703

 

 

Page 2 of 2

 

 

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