CompanyExchange / SymbolHeadquartersAmountComments
Exco Resources Inc.NYSE: XCODallasUS$2 billionPrivately placed $390 million in 7% cumulative convertible perpetual preferred stock convertible into common stock at $19 per share and $1.61 billion in 11% hybrid preferred stock to fund its acquisition of the Vernon / Ansley assets in Louisiana.
Range Resources Corp.NYSE: RRCFort Worth, TexasUS$254 millionPlans to publicly offer 7 million shares at US$36.28 each to fund acquisitions and pay the balance of its senior credit facility. J.P. Morgan Securities Inc. and Credit Suisse Securities (USA) LLC are joint book-runners and Deutsche Bank Securities Inc. Friedman, Billings, Ramsey & Co. Inc., Morgan Stanley & Co. Inc., Raymond James & Associates Inc., Johnson Rice & Co. LLC, KeyBanc Capital Markets Inc., BMO Capital Markets Corp., Calyon Securities (USA) Inc., Fortis Securities LLC, Natexis Bleichroder Inc., Pickering Energy Partners Inc., RBC Capital Markets Corp., Simmons & Co. International and SunTrust Capital Markets Inc. are co-managers.
DEBT
Anadarko Petroleum Corp.NYSE: APCHoustonUS$8 billionClosed its new credit facility after reducing it from the US$10-billion facility that replaced its US$24-billion loan for the acquisitions of Kerr-McGee Corp. and Western Gas Resources Inc. The arrangers of the original loan, UBS Investment Bank, Credit Suisse and Citi, were arrangers of the new facility.
Exco Resources Inc.NYSE: XCODallasUS$1.3 billionEntered an amended credit agreement with its bank group led by JPMorgan Chase to fund its acquisition of the Vernon / Ansley assets in Louisiana and pay debt.
Venoco Inc.NYSE: VQDenverUS$500 millionPlans to launch the syndication of a second-lien term-loan facility to pay off a loan facility used to fund the acquisition of TexCal in 2006 and other acquisitions.
Edgen Murray Corp.NABaton Rouge, La.US$500 millionSubsidiary Edgen Murray LP has entered a debt financing with Lehman Brothers and Jefferies Finance LLC to pay debt and fund holding company Edgen Murray II LP's acquisition of Edgen Murray Corp.'s subsidiaries from its existing partners.
Rider Resources Ltd.Toronto: RRZCalgaryC$455 millionIncreased its credit facilities to C$230 million, entered an equity bridge facility for C$110 million with Scotia Capital and plans to issue US$100 million (C$115 million) of second-lien term debt to fund its acquisition of assets in Alberta. Scotia Capital will market the second-lien term debt.
Energy Partners Ltd.NYSE: EPLNew OrleansUS$450 millionPlans to privately place six-year floating-rate notes and seven-year fixed-rate notes to fund tender offers, the US$150-million principal amount of 8.75% senior notes due 2010, and to finance its existing revolving credit facility.
El Paso Natural Gas Co.NYSE: EPHoustonUS$355 millionPlans to offer senior notes due 2017 to pay for the redemption of all of the $355-million 7.63% notes due 2010 that were previously tendered.
Cimarex Energy Co.NYSE: XECDenverUS$350 millionSold 7.125% senior notes due 2017 to fund redemption of 9.6% senior notes assumed in the Magnum Hunter merger and pay outstanding amounts from its revolving credit facility. J.P. Morgan Securities Inc. and Lehman Brothers Inc. were joint book-running managers.
St. Mary Land & Exploration Co.NYSE: SMDenverUS$287.5 millionClosed its private placement of 3.5% senior convertible notes due 2027 to pay debt from its revolving credit facility.
Penn West Energy TrustToronto: PWT-UN; CalgaryC$250 millionEntered a new unsecured, demand credit facility.
NYSE: PWE
Callon Petroleum Co.NYSE: CPENatchez, Miss.US$200 millionClosed a seven-year, $200-million senior-secured revolving-credit facility with Merrill Lynch Capital Corp. to fund the initial purchase price of the acquisition of the Entrada assets in the Gulf of Mexico and a portion of the related development costs.
ATP Oil & Gas Corp.Nasdaq: ATPGHoustonUS$192 millionExpanded its 3.5% first-lien term loan due 2010 in incremental proceeds to refinance its US$175-million second-lien term loan. Credit Suisse was lead arranger and Bayerische Hypo-Und Vereinsbank AG was an agent.
Denbury Resources Inc.NYSE: DNRDallasUS$150 millionIncreased its offering of senior subordinated notes due 2015 from US$125 million to pay debt from its credit facility. J.P. Morgan Securities Inc. is underwriter and book-running manager and Johnson Rice & Co. LLC is an underwriter.
Eagle Rock Energy Partners LPNasdaq: EROCHoustonUS$100 millionReceived an increase in its revolver facility to fund its acquisition of assets from Montierra Minerals & Production LP.
Delta Petroleum Corp.Nasdaq: DPTRDenverUS$100 millionPlans to publicly offer 3.75% convertible senior notes due 2037 to fund capex and other general corporate purposes. JPMorgan, Lehman Brothers and Deutsche Bank are joint book-running managers.
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