Finance - Equity
Proceeds will help carry out the Phase 2 work program on the Bobocu license onshore Romania and will also support working capital, Claren said.
The net proceeds will support acquisition of about 4,100 net acres of additional oil and gas assets in the Midland Basin, and will also reduce debts and support general corporate purposes.
Tellurian Investments Inc., a private company founded by Charif Souki and Martin Houston, said Nov. 28 it received $25 million in preferred equity from GE Oil & Gas, with an implied Tellurian common stock value of $5.94 per share.
The net proceeds will support general corporate purposes and reduce short term debts of TransCanada and its affiliates.
The offering and private placement are expected to close on Nov. 22.
Tallgrass Energy GP LP will not receive any proceeds from the offering, which is expected to close on Nov. 22.
The pipeline is expected to be completed and in service in the second half of 2017.
On Nov. 16, TransCanada Corp. said it completed its public offering of about 60.22 million common shares priced at CA$58.50 each for gross proceeds of about CA$3.5 billion.
Double Eagle has rapidly grown to become one of the largest pure-play Midland Basin E&Ps following the recent merger of two private equity-backed companies, the release said.
Houston-based WildHorse said proceeds from the offering will be used to fund the remaining portion of the Burleson North acquisition. The company did not mention the size of the offering.
J. Ross Craft, chairman and CEO of Approach Resources, said the company could save $16.1 million in annual interest payments and up to $70 million in interest payments over the life of the senior notes.
Sequel Energy’s management team has more than 75 years of combined experience exploring, developing and operating oil and natural gas fields across several major U.S. producing basins.