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Abraxas Petroleum Corp. Message Board

  • bogwa1406 bogwa1406 Dec 11, 2013 5:24 PM Flag

    Let's see if this posts's information on F-250 LLC... ( this was formed on 11/27/13)

    File Number: 5440436 Incorporation Date / Formation Date: 11/27/2013
    Entity Name: F-250, LLC
    Residency: DOMESTIC State: DE


    Address: 1675 S STATE ST STE B
    City: DOVER County: KENT
    State: DE Postal Code: 19901
    Phone: (800)316-6660

    Additional comment regarding the above information found through Delaware LLC's. It certainly appears the LLC was formed just for the Wycross purchase as it was formed just 4 days before the effective transaction date of Dec 1/13. Looks like someone either desires to be secretive or they want the deal to be a stand alone holding. I guess at worst it's kind of suspicious and at best it's peculiar. Generally most acquisitions are more open as to the parties involved. Curious if anyone has seen similar transactions ? I'd just feel a little more comfortable knowing who has vested interest in F-250...because after owning CHK, SD, and HK....I'm not all to trustful of anybody anymore. JMHO GLTA

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    • Just be happy when the check clears and they aren't playing second fiddle to SN - best damn move they could make was to sell once they were dealt those cards and fast too:

      Sanchez Energy’s all-in-the-family deals raise questions for shareholders Two years after going public, Sanchez Energy Corp. still operates like a family-run enterprise, posing risks for its shareholders, according to an article on The Wall Street Journal.

      Chairman Tony Sanchez Jr. and son, Chief Executive Tony Sanchez III, are employed by a private company that manages operations for Sanchez Energy SN -2.37% and other private family businesses. Sanchez has bought assets from entities run by members of the family. And the public company’s charter allows executives and family-controlled companies to compete with it, raising questions about loyalty, the WSJ said.

      Shares of Sanchez have gained 53% year-to-date, and 48% in the past 12 months. Production has surged to about 16,500 barrels of oil equivalent a day from 600 barrels two years ago, and it’s expected to double next year.

      The mingling of personal and company business is not uncommon among small oil companies, and some have opted to go public to participate in the domestic oil boom.

      Sanchez III told the newspaper the company’s executives do not compete with Sanchez, taking their “fiduciary responsibilities very seriously and protecting shareholders interests at all times,” he said. He acknowledged the company’s structure is unique, though, with closely held Sanchez Oil & Gas Corp. branching out to Sanchez Energy and three family-run firms.

      In one deal detailed by the newspaper, Sanchez Energy bought drilling rights to 40,000 acres in Mississippi for roughly $100 million. The seller was Sanchez Resources LLC, run by Eduardo Sanchez, brother to Sanchez III and Sanchez Jr.’s son. Sanchez Energy paid about $2,500 an acre, far higher than a comparable deal a month earlier between Goodrich Petroleum and Devon Energy Co

      Sentiment: Strong Buy

    • In the interest of transparency, AXAS needs to be completely open with information in regard to this transaction, and they should do it like NOW.

      • 2 Replies to mining_for_metals
      • party can not release information without consent of the other party. Some companies take great strides to keep others from knowing what they're doing. I just find this as being peculiar, but it very well may be totally legit. As long as no Abraxas people have any vested interest in F-250 LLC then I could care less who F-250 LLC represents...but without knowing who does have vested interest in the LLC....well, it leaves a questionable grey area. After Aubrey McClendon's deals at CHK and Tom Ward's at Sandridge....I just don't trust folks on their words....I prefer facts and deeds. It would be different it the announcement were APA, APC, or BHP acquires Wycross.....but that's not what we have. This is more like meeting some critter I've never seen before....I'm not sure if it's harmless or harmful. Bottom line...I think the deal is good....I just don't like the lack of information JMHO GLTA

      • In the interest of transparency metal miner should disclose that he is a short, disguising himself as a long....

1.72+0.21(+13.91%)Oct 6 4:00 PMEDT