Arena Resources Company News

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Biden Admin Issues 30+ Drilling Permits
Wednesday, January 27, 2021The Biden administration has issued at least 31 new drilling permits authorizing operations on federal land and coastal waters.

Eni to Apply Barnett Know-How in Polish Shale Gas Play
Friday, December 10, 2010Eni will operate three licenses in a highly prospective Polish shale gas play, using expertise gained from a Barnett Shale JV.

SandRidge, Arena Finalize Merger
Friday, July 16, 2010SandRidge and Arena jointly announced that special meetings of the stockholders of each of SandRidge and Arena were held.

Arena Sees 16% Increase in Production
Wednesday, May 12, 2010Arena's total production for the quarter ended March 31, 2010 was 739,523 BOEs. This represents a 30% increase over the same three month period in 2009 and a 16% increase over the three month period ending December 31, 2009.

SandRidge-Arena Merger to Create $6.2B Company
Monday, April 05, 2010SandRidge Energy and Arena Resources have entered into a definitive merger agreement creating a $6.2 billion company headquartered in Oklahoma City.

Arena Resources Completes Stock Offering
Tuesday, June 03, 2008Arena Resources has completed the sale of 2,501,250 shares of its common stock, resulting in net proceeds of approximately $116,100,000 after estimated offering expenses.

Arena Commences Public Offering Shares of Common Stock
Thursday, May 29, 2008Arena Resources has commenced a public offering of 2,175,000 shares of common stock. The closing price of the Company's common shares on the New York Stock Exchange was $51.92 per share.

Arena Resources Announces Closing Prices of Stock Offering
Thursday, May 29, 2008Arena Resourcest has priced its sale of 2,175,000 shares of its common stock resulting in net proceeds of approximately $100,750,000.

Arena Resources Names Phil Terry New CEO
Wednesday, May 21, 2008Arena Resources has appointed Phil Terry to the position of Chief Executive Officer. Terry has been the President and Chief Operating Officer of the company since February 2007, and manager of all engineering and field operations since April 2003.

Arena Resources Increases Proved Reserves by 29%
Thursday, February 28, 2008Arena reported that its estimated total proved reserves of oil and natural gas as of December 31, 2007 increased 29% to 55.4 million barrels of oil equivalent (BOE), from 43.1 million BOE at year end 2006, and 32% when adjusted for 2007 sales.

Arena Resources Announces Definitive Agreement for Yates Gas Production
Monday, January 07, 2008Arena Resources, Inc. has signed a definitive agreement to produce and sell gas from its Fuhrman Mascho properties in Andrews County, Texas, to Odessa Fuels Marketing, LLC, an affiliate of Aspen Pipeline I and Aspen Pipeline II of Houston, Texas.

Arena Adds 8 Million Barrels of Reserves in West Texas
Wednesday, December 12, 2007The evaluation of 5,000 acres acquired by Arena Resources for $49 million has yielded initial reserve estimates of eight million barrels of oil equivalent.

Arena Resources Expands Position in Permian Basin
Thursday, November 08, 2007Arena has signed a LOI for the acquisition of two additional properties in New Mexico and Texas for $6,523,500 to be paid from existing cash balances.

Arena Approves $12 Million Increase in 2007 Spending Budget
Thursday, November 08, 2007Arena has approved a $12 million increase in its capital expenditure budget for the remainder of 2007, making a total of $116 million.

Arena Resources Approves Two-for-One Stock Split
Thursday, September 20, 2007Arena Resources has approved a two-for-one stock split of its common stock effective to shareholders of record at the close of business on October 15, 2007.

Arena Reports 23% Jump in Earnings for Second Quarter
Tuesday, August 07, 2007Arena Resources reported financial results for the three months and six months ended June 30, 2007.

Arena Resources Reports 2Q 2007 Record Production
Wednesday, July 25, 2007Sales as a result of production for the quarter ended June 30, 2007 rose to approximately 385,000 barrels of oil equivalent, as compared to production of 241,060 BOE for the same quarter in 2006.

Arena Resources Completes Stock Offering
Monday, June 25, 2007Arena Resources, Inc. has completed its sale of 2,050,000 shares of its common stock through a registered direct offering for $49.00 per share with selected institutional investors, resulting in net proceeds of approximately $95.3 million.

Arena Announces Direct Common Stock Offering
Friday, June 15, 2007Arena Resources, Inc. has entered into definitive agreements with selected institutional investors to sell up to 2,050,000 shares of its common stock through a registered direct offering for $49.00 per share.

Arena Posts 59% Increase in Profit for Q1
Monday, May 07, 2007Arena Resources, Inc. on Monday announced the financial and operational results for the first quarter ended March 31, 2007.

Arena Boosts Q1 Production by 76%
Thursday, April 19, 2007Arena Resources, Inc. on Thursday announced its operations update for the first quarter of 2007.

Arena Boosts Proved Reserves by 43%
Thursday, March 29, 2007Arena Resources, Inc. said Thursday that its estimated total proved reserves of oil and natural gas as of December 31, 2006 increased 43% to 43.1 million barrels of oil equivalent (Boe), from 30.2 million Boe at year-end 2005.

Terry to Lead Arena Resources
Friday, February 02, 2007Arena Resources, Inc. announced effective, February 1, 2007, that Mr. Phil Terry has been appointed to the position of President and Chief Operating Officer of the Company.

Arena Ups Capex Budget by 9%
Thursday, January 18, 2007Arena Resources, Inc. on Wednesday announced an initial capital expenditure budget (Capex) of $94.6 million for 2007, a 9% increase over the estimated $86.9 million spent on the development of Company properties in 2006.

Arena Reports Another Record Quarter
Wednesday, January 17, 2007Arena Resources, Inc. on Tuesday announced its operations update for the fourth quarter of 2006. During the fourth quarter, Arena drilled a total of 36 new wells.

Arena Resources Adds Proved Reserves in Permian Basin
Thursday, December 07, 2006Arena Resources has acquired three properties located in Andrews County, Texas for a purchase price of $6,117,500, consisting of $5.8 million in cash and 10,200 shares of restricted common stock of the Company valued at $31.13 per share.

Arena Resources Announces Record Q3, Nine-Month Results
Monday, November 06, 2006Arena Resources, Inc. announced financial results for the third quarter and nine months ended September 30, 2006. For the three month period ended September 30, 2006, Arena had oil and gas revenues of $18,192,860.

Arena Resources Sees Record 3Q06 Production
Friday, October 06, 2006Production for the quarter ended September 30, 2006 was approximately 295,000 BOE, as compared to production of 141,205 BOE for the same quarter in 2005, a 109% increase, and a 22% increase over the 241,060 BOE produced in the second quarter of 2006.

Arena Resources Posts Record Second Quarter
Monday, August 07, 2006Arena Resources Inc. on Monday announced its financial results for the second quarter and six months ended June 30, 2006.

Arena Increases 2006 Capex Budget to $76.5 Million
Tuesday, July 25, 2006Arena Resources Inc. said it has increased its capital expenditure budget by $11.5 million for 2006 to $76.5 million with an estimated total of 130 wells to be drilled.

Arena Reports 126% Jump in Q2 Production
Wednesday, July 12, 2006Arena Resources Inc. on Wednesday released its operations update for the second quarter of 2006.

Arena Resources to Issue 1.15 Million Shares in Private Placement
Tuesday, May 30, 2006Arena Resources has entered into definitive agreements with institutional investors to sell 1,150,000 shares of the company's common stock in a private placement for $28.04 per share.

Arena Resources Announces Record 1Q06 Results
Thursday, May 11, 2006Arena Resources announced record financial results for the first quarter for the three month period ended March 31, 2006, Arena had oil and gas revenues of $10,380,395, compared to $3,914,735 for the quarter ended March 31, 2005, a 165% increase.

Arena Increases and Extends Credit Facility
Friday, March 31, 2006Tulsa-based Arena Resources reports that its existing credit facility with MidFirst Bank has been increased to a maximum of $150 million, with an immediate initial borrowing base of $65 million.

Arena Resources Announces 2005 Year-End Production and Reserves
Wednesday, February 22, 2006Arena Resources says that its estimated total proved reserves of oil and natural gas as of Dec. 31, 2005, increased 42% to 30.2 million barrels of oil equivalent (Boe), from 21.2 million Boe at year-end 2004.

Arena Resources Drills 21 Wells During 4Q05
Friday, January 27, 2006Arena Resources says during the fourth quarter of 2005, the company drilled 20 development wells and one exploratory well, 12 of which were completed and placed in production by year end.

Arena Resources Increases 2006 CAPEX Budget
Thursday, December 08, 2005Arena Resources says the increase in the 2006 budget is directly related to the accelerated development schedule of the company's Fuhrman-Mascho lease.

Arena Resources Increases 2005 Capital Expenditure Budget to $24 Million
Friday, November 18, 2005Arena Resources has increased its capital expenditure budget by $5.5 million for 2005 to $24 million.

Arena Resources Record 3Q05 Results
Tuesday, November 01, 2005Arena reports increase of 215% in revenue for the three months to $7.9 million and a 317% Increase in net income for three months to $3.46 million.

Arena Resources Receives $10 Million in Private Investment Funds
Wednesday, July 13, 2005Arena Resources has received a $10 million private equity investment from a small group of investors, some of whom are existing shareholders. The funds will be used to eliminate the remaining $5 million outstanding long term debt on the company's bank credit facility and to fund an increase in the 2005 capital expenditure budget by approximately $4 million to $18.5 million.

Arena Resources to Acquire West Texas Acreage
Wednesday, May 25, 2005Arena Resources has entered into a Letter of Intent to acquire oil and natural gas properties located in west Texas for a purchase price of $1.2 million.

Arena Resources Receives $5 Million from Warrant Exercise
Wednesday, February 23, 2005Arena Resources has received $5,047,470 from the exercise of 1,009,494 warrants that the company recently called for redemption. The warrants were originally issued in connection with a private placement of common stock completed in June 2003.

Arena Resources Budgets $15 Million for 2005
Tuesday, February 01, 2005Arena Resources says the 2005 capital budget of $15 million reflects the company's plans to immediately expand its operations in its Permian Basin properties acquired in 2004, with approximately 80% ($12 million) being allocated to these core properties.

Arena Completes Texas Property Acquisition
Tuesday, December 21, 2004Arena Resources has closed its previously announced acquisition of a 100% working interest, 75% net revenue interest in the Fuhrman-Mascho Field located in Andrews County, Texas, for a purchase price of $10.55 million.

Arena Makes $10.5 Million Texas Property Acquisition
Tuesday, December 07, 2004Arena Resources has entered into a Purchase and Sale Agreement to acquire oil and natural gas properties located in West Texas for a purchase price of $10.55 million, comprised of $9.5 million cash and 150,000 restricted shares of the company's common stock, valued at $7.00 per share.

Arena Resources Announces First Quarter 2004 Results
Tuesday, May 18, 2004Arena Resources reports financial results for the first quarter ended March 31, 2004. Arena had net income of $368,398 or $0.05 per share on oil and gas revenues of $1,409,719, up 75% from revenues of $807,021 for the quarter ended March 31, 2003.

Arena Resources Acquires New Leases in Lea County, NM
Friday, April 23, 2004Arena Resources has entered into a definitive agreement to acquire an 82% working interest, 67.5% net revenue interest in a mineral lease located in Lea County, N.M. for a cash purchase price of $10,136,000.

Arena Resources to Acquire New Mexico Prospect
Thursday, April 15, 2004Arena Resources has signed a Letter of Intent for the acquisition of a mineral lease located in Lea County, N.M., subject to the completion of due diligence and execution of a definitive agreement.

Arena Drills Second Successful Gas Well In Kansas
Wednesday, January 21, 2004Arena Resources has successfully drilled a second gas well on its Auntie Em Prospect lease in Kansas.

Arena Resources Acquires 30 Wells in New Mexico and Texas
Thursday, November 13, 2003Arena Resources has finalized the acquisition of 100% working interests in mineral leases located in Eddy County, N.M., and Yoakum County, Texas.