Continental Resources has announced the pricing for its proposed private placement of senior unsecured notes, which are intended to raise $1bn in gross proceeds.
Due 2028, the notes will offer a rate of 4.375% a year.
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The proceeds are intended to be used to fully repay the company’s outstanding term loan and partly repay its outstanding borrowings under revolving credit facility.
Savannah Petroleum is set to dispose an 80% stake in Accugas to private equity firms African Infrastructure Investment Managers (AIIM) and Islamic Development Bank Infrastructure Fund II (IDB), with a term-sheet agreement having been signed between the parties.
Based in Nigeria, the target company is a midstream company that owns the 200 million metric standard cubic feet a day (mmscfd) Uquo gas processing facility.
Aside from investing $60m, AIIM and IDB will carry Savannah’s 20% stake as part of the transaction.
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By GlobalDataThe agreement also gives Savannah the right to acquire an additional 10% in the Accugas, which if executed, will cost the capital invested by the investors, raised by 10% a year.
The acquirer companies expect the transaction to fortify their investment portfolio.
CorEnergy Infrastructure Trust has entered an agreement with the Prudential Insurance Company of America to acquire an 18.95% stake in Pinedale Liquids Gathering System (LGS).
Pinedale LGS has 107 receipt points and four central storage facilities situated in the Pinedale Anticline in Wyoming, US, and includes more than 150 miles of pipeline.
The purchase consideration for the all-cash transaction will be $32.8m, which will be funded through CorEnergy’s existing credit facility.
Scheduled for completion before 31 December, the transaction will allow CorEnergy Infrastructure to improve its midstream assets portfolio.
Western Global Oil has agreed to purchase 18 wells situated in Kingfisher County of Oklahoma, US, from an undisclosed seller.
The asset purchase will enable Western Global to fortify its oil and gas portfolio in the US.
