corporate finance – Page 2

NGL Energy Partners Sells Remainder of Retail Propane Business for $900 Million

July 10, 2018

NGL Energy Partners LP (NYSE:NGL) today announced that it has closed the previously announced transaction to sell the remainder of its Retail Propane business to Superior Plus Corp. (TSX:SPB) for $900 million in cash proceeds, adjusted for working capital. In May 2018, NGL announced its strategic decision to completely exit the Retail Propane business and re-deploy capital at a comparatively

Whiting Petroleum Announces Extension of the Exchange Offer for its 6.625% Senior Notes

July 6, 2018

Whiting Petroleum Corporation (NYSE: WLL) today announced that it has extended its offer to exchange (the “Exchange Offer”) all of its outstanding, unregistered 6.625% Senior Notes due 2026 (the “Original Notes”) issued December 27, 2017, for new, registered 6.625% Senior Notes due 2026 (“New Notes”). The Exchange Offer, which was initially scheduled to expire on July 5, 2018 at 5:00

Icahn Cuts Stake in Cheniere Energy, Remains Confident in Management

June 28, 2018

From Reuters Activist investor Carl Icahn said on Thursday he had reduced his stake in liquefied natural gas exporter Cheniere Energy Inc (LNG.A) to 9.5 percent, but added that he was confident in the company’s management and Chief Executive Officer Jack Fusco. Icahn, still the biggest shareholder of the company, had disclosed bit.ly/2lHu2Km a stake of 13.8 percent in Cheniere

Northern Oil and Gas Announces Acquisition and Debt Reduction

June 27, 2018

Northern Oil and Gas, Inc. (NYSE American: NOG) today announced that it has entered into a definitive agreement to acquire producing assets in the Williston Basin of North Dakota. Separately, Northern has entered into another negotiated exchange agreement with an institutional holder (the “Investor”) of its 8% senior unsecured notes due 2020 (the “Notes”). Highlights Acquisition includes current estimated production

Chaparral Energy Prices $300 Million Offering of Senior Notes

June 26, 2018

Chaparral Energy, Inc. (OTCQB:CHPE) announced today it has priced $300 million of 8.750% senior unsecured notes due 2023. The company intends to use the net proceeds from the offering to pay down the outstanding balance of its revolving credit facility and for general corporate purposes. The offering is expected to close on June 29, 2018, subject to customary closing conditions.

Canacol Energy Operations Update and Disposal of Colombian Oil Assets

June 25, 2018

Canacol Energy Ltd. (“Canacol” or the “Corporation”) (TSX:CNE) (OTCQX:CNNEF) (BVC:CNEC) is pleased to provide the following exploration, gas and oil sales, and Corporate update. Breva 1 Gas Exploration Well VIM 21 Exploration and Production Contract CNE Oil and Gas S.A.S, 100% Operated Working Interest Breva 1 was spud on April 29, 2018 using the Pioneer 302 drilling rig, and reached

Frontera Closes $350 Million Senior Unsecured Notes Offering

June 25, 2018

Frontera Energy Corporation (TSX: FEC) (“Frontera” or the “Company”), announced today that it completed its previously announced offering of U.S.$350 million in senior unsecured notes due 2023 at a coupon rate of 9.70% (the “Notes”). Richard Herbert, Chief Executive Officer of Frontera, commented: “With the closing of this offering, the Company is well-positioned to execute on its strategy of sustainable

ONEOK Announces $1.25 Billion Notes Offering

June 20, 2018

ONEOK, Inc. (NYSE: OKE) today announced that it has priced an offering to sell $1.25 billion of senior notes, consisting of $800 million of 10-year senior notes at a coupon of 4.55 percent and $450 million of 30-year senior notes at a coupon of 5.20 percent. The net proceeds from the offering, after deducting underwriting discounts and commissions, are expected

Northern Oil and Gas $22.8 Million Stock for Notes Exchange

June 20, 2018

Northern Oil and Gas, Inc. (NYSE American: NOG) today announced that it has entered into two additional independent, separately negotiated exchange agreements with institutional holders (the “Investors”) of its 8% senior unsecured notes due 2020 (the “Notes”). Together the new agreements represent a debt reduction of $22,807,000 par value of Notes. Combined with the exchange transactions announced last week, Northern

WaterBridge Secures $200 Million, Staffs Up

June 15, 2018

WaterBridge Resources LLC announced today that its subsidiary WaterBridge Operating LLC has entered a $200 revolving credit facility led by SunTrust Bank. This will further add to the $500 million acquired from Five Point Energy LLC, bringing WaterBridge Resources committed capital total to $700 million. This will be used for further growth in expansion in several domestic basins. The closing

Tourmaline Oil Corp. Announces Election of Directors and Quarterly Dividend

June 7, 2018

From Canada NewsWire Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company”) is pleased to announce that the nominees listed in its information circular dated April 20, 2018 were elected as directors of Tourmaline at its annual and special meeting of shareholders on June 6, 2018 in Calgary, Alberta (the “Meeting”). All matters presented for approval at the Meeting, including

Double Eagle III’s Wingspan Covers $1 Billion

February 6, 2018

Double Eagle Energy Holdings III announced that inclusive of a recent capital raise, the company has secured equity commitments of more than $1 billion. The equity commitments are anchored through funds managed by affiliates of Apollo Global Management, LLC (ticker: APO). Double Eagle’s equity commitments will support the company’s ongoing acquisition and development initiatives in the Permian Basin and will

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