Finance

Finance - Buy Backs

Southwestern Energy Amends Tenders For Senior Notes Buyback

Credit Suisse Securities (USA) LLC and Mitsubishi UFJ Securities (USA) Inc. are the lead dealer managers, and D.F. King & Co. Inc. is retained as the tender agent and information agent.

Erin Pedigo
2016/07/15

Bill Barrett Undertakes Debt Exchange

Bill Barrett reduced the principal amount of the nearest term notes by 21% and net debt by 12%, noting that about $6.5million in annual interest will be saved.

Erin Pedigo
2016/06/03

Deep Down Announces $1 Million Share Repurchase Program

Ronald E. Smith, CEO, said the company is undervalued due to the current low oil price, but the company’s balance sheet is very strong, and operations should likely improve with its strong backlog.

Erin Pedigo
2016/05/23

WPX Opens Buyback For 2017 Senior Notes

The tender offer will expire April 29. Citigroup Global Markets Inc. is the dealer manager, and the information agent and tender agent is Global Bondholder Services Corp.

Erin Pedigo
2016/04/25

Finance - Debt

E&Ps Keep Close Watch On Spending, But For How Long?

Investors are concerned that producers will be unable to keep savings they say are tied to efficiency improvements as service companies begin to assert themselves after two years of discounts.

Darren Barbee
2016/07/18

C&J Energy Services Headed To Bankruptcy To Erase $1.4 Billion Debt

The company will swap equity for debt forgiveness, and partners such as Nabors Industries will see a vastly reduced stake in the company.

Darren Barbee
2016/07/12

Holly Energy Partners Will Offer Notes

 The net proceeds will repay debts under the revolving credit agreement.

Erin Pedigo
2016/07/12

Patterson-UTI Energy Amends Bank Credit Agreement

John Vollmer, CFO, said that the company does not have any term debt maturities until October 2020 because the two bank term loans have been repaid.

Erin Pedigo
2016/07/12

Finance - Equity

Flotek Offers $30 Million Shares In Private Placement

The proceeds will fund Flotek’s acquisition of International Polymerics Inc. and will also repay debt under the  secured credit facility and support general corporate purposes.

Erin Pedigo
2016/07/27

Clayton Williams Will Sell $150 Million Of Common Stock

Vinson & Elkins LLP was CWEI’s legal adviser, and Kirkland & Ellis LLP was legal adviser to Ares. 

Erin Pedigo
2016/07/25

Contango Prices $50 Million Stock Offering

RBC Capital Markets, SunTrust Robinson Humphrey and Seaport Global Securities are joint book-running managers.

Erin Pedigo
2016/07/22

Diamondback Closes $565 Million Equity Offering To Fund Delaware Deal

Diamondback said it will use the proceeds, together with cash on hand, to foot the $560 million bill from its recent Delaware Basin acquisition.

Emily Moser
2016/07/21

Finance - Redemptions

Halliburton Will Redeem $2.5 Billion In Senior Notes

The Bank of New York Mellon Trust Co. NA, the trustee, is notifying all current registered noteholders of the redemption.

Erin Pedigo
2016/05/09

CenterPoint Closes $363 Million Investment In Enable Midstream Securities

The units were priced at $25 each, and Enable redeemed about $363 million of notes payable to subsidiary CenterPoint Energy Resources Corp. These notes will mature in 2017.

Erin Pedigo
2016/02/19

Tortoise Energy Infrastructure Will Redeem Series C Shares

The redemption represents a $50 million liquidation preference, and the redemption date is Jan. 8, 2016. The credit facilities funded the total price with Computershare, the paying agent and transfer agent, on Dec. 8. 

Erin Pedigo
2015/12/23

Federal Judge: CHK Noteholders Must Get $397.7 Million

A Manhattan federal judge ruled Chesapeake must pay bondholders an additional $379.7 million, after an appeals court ruled a series of senior notes was improperly redeemed at par, Bloomberg said.

2015/07/10

Finance - Restructuring

New York Bankruptcy Judge Will Approve Sabine's Reorganization

The case has been unusually contentious, with Sabine and its lenders squaring off against the official committee of unsecured creditors, led by Aurelius Capital Management, Reuters reported.

Erin Pedigo
2016/07/27

Atlas Resource Partners Enters Restructuring Support Agreement

If the RSA is completed, Atlas Resource Partners’ debt will be reduced by about $900 million, and its interest expense will be reduced by $80 million, per year.

Erin Pedigo
2016/07/25

Lightstream Enters Restructuring Support Agreement

The proposed recapitalization is intended to be implemented through a corporate plan of arrangement under the Canada Business Corporations Act.

Erin Pedigo
2016/07/13

C&J Energy Services Headed To Bankruptcy To Erase $1.4 Billion Debt

The company will swap equity for debt forgiveness, and partners such as Nabors Industries will see a vastly reduced stake in the company.

Darren Barbee
2016/07/12