American Energy – Permian Basin, LLC (AEPB) will offer $295 million of senior secured second-lien notes in a private placement, the company said May 27. AEPB is an American Energy Partners LP (AELP) affiliate.
The notes are due 2020.
Net proceeds of about $290 million will repay part of AEPB’s revolving credit facility borrowings.
On May 26, the company had $400 million in outstanding borrowings under the facility. After using the proceeds, there will likely be about $290 in available borrowings, the company said. Repaid amounts can be reborrowed and used to support capex and general corporate purposes, the company added.
American Energy Partners LP is based in Oklahoma City.
Recommended Reading
Vopak Consortium Selected to Operate New LNG Terminal in South Africa
2024-01-10 - Vopak, in a partnership with Transnet Pipelines, was selected to develop and operate an LNG terminal at the Port of Richards Bay in South Africa for 25 years.
Why Investors Should Keep an Eye on Vietnam
2024-01-09 - Vietnam has become a partner with the U.S., but as a manufacturing hub and the home to one of the world’s largest cache of critical minerals, it needs power—and investment—to move forward, Energy Capital Vietnam (ECV) founder, chairman and CEO David Lewis says.
What's Affecting Oil Prices This Week? (Jan. 8, 2024)
2024-01-08 - For the upcoming week, Stratas Advisors predicts oil prices will bounce upwards with geopolitical news, but the price increase will quickly fade as the oil continues to flow.
EQT Announces Tolling Agreement with Texas LNG
2024-01-12 - EQT’s agreement with Texas LNG is the E&P’s second long-term deal since September to provide an outlet for its natural gas to the LNG market.
Oklahoma, Rockies E&Ps Now Need $64 Oil to Turn A Profit
2024-01-15 - The Federal Reserve Bank of Kansas City’s quarterly survey found a fourth consecutive quarter of oil and gas activity decline in Oklahoma, northern New Mexico, Colorado and Wyoming.