Finance - Buy Backs
The tenders will be funded through the net proceeds from previously completed asset sales and financing transactions, and will reduce outstanding debt.
The consent solicitation will expire on August 9 and the tender offer will expire on Aug. 23.
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.
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.
Finance - Debt
Many loans come with a feature where the issuer promises to pay a premium--usually 101--if they call a loan during a specified amount of time, usually six months to a year after the deal inks, Reuters reported.
Oilfield services firm Swiber Holdings, which initially filed for liquidation, gained court approval this month to place itself under judicial management, Reuters reported.
The Jacobucci wells, which are operated by a third-party operator, have been drilled and/or cased and are scheduled for completion in the first quarter of 2017.
The net proceeds will be used to reduce senior secured revolving credit facility borrowings.
Finance - Equity
The D-J Basin centric company is the first U.S. E&P to launch an IPO since June 2014.
The remaining net proceeds will support other general corporate purposes. Mammoth did not receive any proceeds from the sale of the shares by the selling stockholders.
Energy-focused private-equity firm EIV Capital completed its $20 million investment commitment to Gazelle Transportation, according to an Oct. 12 press release.
The offering is expected to close on Oct. 21. J.P. Morgan Securities LLC and Goldman Sachs & Co. are joint book-running managers.
Finance - Redemptions
Concho also said it recently completed its redemption of the $600 million of 7.0% senior notes due January 2021.
The Bank of New York Mellon Trust Co. NA, the trustee, is notifying all current registered noteholders of the redemption.
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.
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.
Finance - Restructuring
Samson suspended drilling new wells before filing for bankruptcy, Reuters reported.
Oilfield services still face bankruptcy threat, but rest of industry relatively in the clear for this year.
In conjunction with its emergence from Chapter 11, Sabine closed on its new senior secured credit facility.
If Sandpiper Pipeline Project is snuffed, supply-and-demand balance in Bakken could arrive sooner, East Daley analysts say.