Anadarko Petroleum Corp. (NYSE: APC) priced a public offering of 35.25 million common shares for total gross proceeds of about $1.92 million, the company said Sept. 12.
The underwriter received a 30-day option to purchase about 5.28 million additional shares.
Net proceeds will likely fund the acquisition of deepwater Gulf of Mexico assets from an unaffiliated third party, and any remaining net proceeds will support general corporate purposes.
The offering is not conditioned on the consummation of the acquisition, and it is expected to settle and close on Sept. 16.
J.P. Morgan Securities LLC is the sole underwriter.
Recommended Reading
Air Liquide Eyes More Investments as Backlog Grows to $4.8B
2024-02-22 - Air Liquide reported a net profit of €3.08 billion ($US3.33 billion) for 2023, up more than 11% compared to 2022.
Baker Hughes Awarded Saudi Pipeline Technology Contract
2024-04-23 - Baker Hughes will supply centrifugal compressors for Saudi Arabia’s new pipeline system, which aims to increase gas distribution across the kingdom and reduce carbon emissions
Bobby Tudor on Capital Access and Oil, Gas Participation in the Energy Transition
2024-04-05 - Bobby Tudor, the founder and CEO of Artemis Energy Partners, says while public companies are generating cash, private equity firms in the upstream business are facing more difficulties raising new funds, in this Hart Energy Exclusive interview.
Atlas Energy Solutions Declares Dividend
2024-02-09 - Atlas Energy’s dividend represents a 5% increase from the previous quarter’s dividend.
Northern Oil and Gas Ups Dividend 18%, Updates Hedging
2024-02-09 - Northern Oil and Gas, which recently closed acquisitions in the Utica Shale and Delaware Basin, announced a $0.40 per share dividend.