Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, May 21, 7:25 AM
|This Slide: #398 of 581|
Slide #398. EnerJex Resources, Inc. — Preferred Stock Offering
EnerJex Resources, Inc. (ENRJ)
10% Series A Perpetual Preferred Stock (ENRJPR)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
EnerJex Resources, Inc. (OTCQB: ENRJ) (OTCQB: ENRJD) (OTCQB: ENRJPR) ("EnerJex" or the "Company"), an independent exploration and production company focused on the acquisition and development of oil and natural gas properties located in the mid-continent region of the United States, announced today that it has priced a public offering of 555,789 shares of its 10% Series A Cumulative Redeemable Perpetual Preferred Stock (liquidation preference of $25.00 per share) at $23.75 per share for gross proceeds of $13.2 million. The offering is expected to settle and close on June 20, 2014, subject to customary closing conditions. Trading of the preferred stock on the NYSE MKT will commence on June 17, 2014 under the symbol "ENRJPR".
EnerJex Resources is an independent energy company engaged in the business of producing and selling crude oil and natural gas. The crude oil and natural gas is obtained by the acquisition and exploration and development of mineral leases. Development and exploration may include drilling new exploratory or development wells. These operations are conducted in Kansas, Colorado, Nebraska and Texas. As of Dec 31 2016, Co.'s total net proved oil and gas reserves were 1.6 million barrels of oil equivalents, of which 64.1% was natural gas. Of the total proved reserves, about 12.2% are proved developed producing, about 42.3% are proved developed non-producing, and about 45.5% are proved undeveloped.
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