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New words:
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affiliate, application, Belv, Calendar, cancelled, collectively, comparable, composition, constituted, consummated, created, criteria, data, dated, deficiency, Delaware, deployment, designation, downturn, dramatic, earned, escrow, exacerbated, exact, expensed, forma, headcount, impairment, improved, interim, interstate, lifting, Loan, lock, Mcf, met, mix, mobility, modified, mortgage, office, oversupply, pandemic, permitted, PV, range, recapitalization, recently, reclassified, recovery, reflected, remediation, repaid, represented, salary, September, succeeding, surged, suspended, suspension, trailing, unfavorable
Financial report summary
?Management Discussion
- Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
- We are an independent oil and gas company focused on the onshore development and production of crude oil, NGLs, and natural gas. Our current operations consist of drilling unconventional horizontal development wells and operating our producing wells in the Eagle Ford Shale in South Texas.
- On February 27, 2023, we entered into the Agreement and Plan of Merger (the “Merger Agreement”) with Baytex. Subject to the terms and conditions of the Merger Agreement, each share of our Class A Common Stock issued and outstanding immediately prior to the effective time of the consummation of the Baytex Merger (including shares of our Class A Common Stock to be issued in connection with the exchange of the Class B Common Stock and Common Units for Class A Common Stock), will be converted automatically into the right to receive: (i) 7.49 Baytex common shares and (ii) $13.31 in cash. The transaction was unanimously approved by the board of directors of each company and JSTX Holdings, LLC and Rocky Creek Resources, LLC delivered a support agreement to vote their outstanding shares in favor of the Baytex Merger. The Baytex Merger is expected to close in late second quarter or early third quarter of 2023, subject to the satisfaction of customary closing conditions, including the requisite shareholder and regulatory approvals.