Finance - Equity
Each unit is comprised of one common share and one-half share purchase warrant, according to a Jan. 6 press release.
The net proceeds will support general corporate purposes including debt repayment, capex and working capital.
The net proceeds will support general working capital and development, including costs of the West Ells steam-assisted gravity drainage project in Canada’s Athabasca oil sands.
The agreement will enable Kuwait Energy to continue with its production plans in Block 9 in Iraq by bringing more wells onstream and increasing output, Reuters reported.
Jeff Eaton, Eaton Partners, discusses the capital overhang, energy funds and distressed opportunites.
Goodrich currently has more than $40 million in cash, $16.65 million of first-lien debt and $40 million of second-lien debt.
Underwriters received a 30-day option to purchase 570,000 additional shares. BMO Capital Markets and Goldman Sachs are joint book-running managers.
WildHorse will use proceeds from its IPO to fund the remaining portion of its acquisition of about 158,000 net acres in Burleson County, Texas, from Clayton Williams Energy.
Texas American Resources Co. LLC received up to $250 million in private equity from First Reserve to support Eagle Ford Shale oil development, according to a Dec. 19 press release.
Underwriters received 30 days to purchase about 2.02 million additional shares to cover overallotments. J.P. Morgan is the sole book-runner.