Finance - Buybacks
Ordinary 'B' shares can be purchased, canceled
The total principal amount of all notes tendered as of the early tender date is more than the aggregate maximum tender amount.
The company is confident that the purchase of its shares would be in the best long term interest of shareholders.
Total expects that the purchase of shares will benefit the remaining shareholders by increasing their proportionate equity investment.
The total number of A shares in issuance is 3,860,677,003 and the total number of B shares is 2,499,999,650.
Additionally, the company repurchased $85 million outstanding 6.5% convertible senior notes due 2015.
The company also plans to sell its interest in Block 32 offshore Angola for $590 million and the acquisition of 4,800 net acres in the core of its Eagle Ford position for $97 million.
Patterson-UTI also completed its previous $150 million buyback program.
Halliburton expects to acquire 68 million shares of its common stock at $48.50 per share for $3.3 billion.
An aggregate US $150 million was outstanding as of Aug. 6.
The purpose of the share buyback program is to reduce the company's issued share capital.