Finance - Equity
The company said it expects to finance the remainder of its 2015 capex budget with cash flow from operations and available capacity on its first lien credit facility.
Proceeds will be used to repay all of the outstanding borrowings under its credit facility and for general corporate purposes.
Oil prices at five-year lows are crimping cash flow for energy producers, which are selling shares to fund spending plans.
Proceeds will be used to repay all outstanding borrowings under its credit facility and for general corporate purposes.
The fund received significant interest with demand well surpassing the fund’s $4.5 billion hard cap.
PetroCap Partners II seeks to invest in onshore basins in the lower 48 states.
The offer is scheduled to close Feb. 23.
Net proceeds will repay outstanding revolving credit facility borrowings.
The company's Calcasieu Parish Pass project in Cameron Parish, La., is scheduled to begin operations in late 2019.
Net proceeds will support the pending acquisition of SemGroup Corp.’s remaining crude oil assets.
Proceeds will repay revolving credit facility borrowings and support general corporate purposes.
The common units are expected to begin trading on the New York Stock Exchange on Feb. 6 under the symbol “CPPL.”