Devon Energy Corporation has agreed with an undisclosed company to dispose its oil and gas assets in southern Midland Basin, Texas, US, for $423m. The assets to be sold under the agreement have a production rate of 22,000 barrels of oil equivalent a day (boed).
Devon Energy has appointed Jefferies LLC and RBC Richardson Barr as financial advisors, and Vinson & Elkins as legal advisor for the transaction, which is scheduled for completion in the third quarter of 2016.
The sale proceeds will allow Devon Energy to stabilise its financial position to reinvest in resource plays in the US.
GasLog Partners LP has raised $90.55m through the issue of senior unsecured bonds in the Norwegian bond market.
The bonds bear a coupon rate of 6.9% over three-month Norwegian Interbank Offered Rate (NIBOR) and will mature in May 2021.
GasLog Partners has appointed DnB Markets, Nordea Markets, SEB Enskilda and Arctic Securities as underwriters for the issue.
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By GlobalDataThe amount raised from the offering will be used to partially refinance GasLog’s existing bonds.
Pioneer Natural Resources Company has agreed to spend $435m to acquire 28,000 net acres from Devon Energy Corporation. The acreage to be sold under the agreement is located in the northern Midland Basin, Texas, US.
Devon has appointed Jefferies LLC and RBC Richardson Barr as the financial advisors, and Vinson & Elkins LLP as the legal advisor for the transaction, which is scheduled for completion in the third quarter of 2016.
The deal will enable Pioneer Natural to attain an additional production capacity of 1,000boed.
Frontline Ltd has signed a pact with an undisclosed company to sell six medium-range tankers. The deal implies a net value of $172.5m.
Frontline is anticipated to transfer the tankers to the new owner by October 2016.
The amount raised from the sale will allow Frontline to expand its very large crude carrier (VLCC) fleet.
Natural Resource Partners L.P. (NRP) has agreed to spend $116.1m to dispose all of its non-operated oil and gas working interest assets to Lime Rock Resources IV-A, L.P.
The assets to be sold under the agreement encompass an area of 21,832 net acres in Williston Basin, North Dakota and Montana, US. The deal is scheduled for completion by the end of July 2016.
The amount raised from the transaction will support NRP’s ongoing deleveraging plan and will also allow the company to repay its revolving credit facility.
