US-based oil and gas company Oasis Petroleum has signed two separate sale-purchase agreements to divest its non-core oil and gas assets for $283m.
Located in Williston Basin, the properties span across 65,000 net acres of land and include the Foreman Butte position and a few non-operated acreages.
Trinity Exploration and Production plans to raise £13.72m ($18m) by offering 91.4 million shares, priced at £0.15 ($0.2) a share, in a private placement.
The placement will be subscribed to by existing and new institutional investors, directors members of the company’s senior management team and certain holders of the loan notes.
Trinity Exploration simultaneously plans to raise £1.52m ($1.9m) by offering 10.1 million shares, priced at £0.15 ($0.2) a share, in a public offering.
Based in the UK, Trinity Exploration is an independent oil and gas company.
The proceeds from the transactions will be used by the company to finance various developments and acquisitions, as well as repay debts and strengthen its balance sheet.
88 Energy, Otto Energy, and Red Emperor Resources NL have entered an agreement to purchase a 79.2% working interest in the western blocks from Great Bear Petroleum Ventures II.
Located in Alaska, the western blocks comprise o the ADL 391718, ADL 391719, ADL 391720, and ADL 391721 leases and are located four miles (6.4km) east of the Horseshoe 1/1A Nanushuk oil discovery well.
The current partners in the western blocks are Great Bear (89.2%) and Otto Energy (10.8%). The partners in the blocks, following the transaction, will be 88 Energy (36%), Red Emperor (31.5%), Otto (22.5%) and Great Bear (10%).
88 Energy, Otto Energy, and Red Emperor Resources NL are all Australian oil and gas companies, while Great Bear Petroleum Ventures II is an oil and gas company based in the US.
The transaction is expected to strengthen the business operations of 88 Energy, Otto Energy, and Red Emperor Resources in Alaska.
US-based independent oil and gas company Invictus Energy has raised A$4.5m ($3.35m) through a public offering of 150 million shares priced A$0.03 ($0.02) a share.
The funds raised from the offering will be used by the company to develop the Cabora Bassa Basin Project and for working capital purposes.
