Finance - News
New unit is expected to grow Oasis midstream business.
Resolute Energy is offering $125 million of its 2020 notes. The company said it plans to use the proceeds to finance its acquisition of Delaware Basin properties in Reeves County, Texas.
Rex Energy said the reverse stock split is intended to maintain its listing on NASDAQ and broaden the range of potential investors in the company.
Memorial Production Partners LP said May 4 it successfully completed its financial restructuring, emerging from Chapter 11 as a new corporation named Amplify Energy Corp.
Proceeds from IPOs of MLPs, the structure used by most energy firms to house assets that ship and store oil and gas, dropped to $323 million last year from $4.9 billion in 2015, according to Thomson Reuters data, Reuters reported.
Stakes in Iroquois and Portland systems will be dropped down to TC Pipelines.
Funds will be used to for Lucid’s Permian Basin infrastructure buildout.
Tom Stabley, president and CEO, said the transaction supports Rex Energy's two-year development plan in the Appalachian Basin.
The Calgary, Alberta-based company has lost nearly one-fifth of its value since the deal with ConocoPhillips was announced in late March, Reuters reported.
Kinder Morgan said April 24 its Canadian unit filed a prospectus for an IPO of restricted voting shares, to help finance its C$7.4 billion (US$5.48 billion) Trans Mountain expansion project.
The justices refused to hear Oklahoma City-based Chesapeake's appeal of a September 2016 ruling by the New York-based 2nd U.S. Circuit Court of Appeals in favor of bondholders.
Deals in 2016 by Covey Park, the largest acreage holder in the Haynesville/Bossier shales, have fueled speculation that it might explore an IPO.