Harvest Natural Resources Sinks on Financing Plan (HNR)

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Independent oil & gas company Harvest Natural Resources Inc. (NYSE: HNR) announced on Friday an “at-the-market” equity financing program that would allow the company to issue up to $75 million in common stock under its current shelf registration. According to the filing:

Sales of the Stock, if any, will be made by means of ordinary brokers’ transactions on the New York Stock Exchange at market prices.

The sales will be made through the company’s agent, Knight Capital Americas L.P. The SEC Form PF describing the terms of the potential sales is available here.

Shares of Harvest Resources are down -7.42% at $6.56 in a 52-week range of $6.11-$16.00.