Parsley Energy Inc. has agreed to acquire mineral rights in oil and gas assets and neighbouring properties in southern Delaware Basin, Texas, US, from an undisclosed company.
The deal implies a net value of $280.5m, which will be raised through a combination of debt and equity.
The assets will add a production of approximately 280boed to Parsley Energy’s existing production base. The deal is scheduled for completion by 14 July 2016.
Tall City Exploration II LLC (Tall City II) has finalised a deal with Denham Capital Management LP for an equity commitment of $300m.
The deal will further increase Denham Capital’s direct investments in the oil and gas industry.
Emerald Oil, Inc. has signed a pact with CL Energy Opportunity Fund, L.P. and SSC Emerald LP to dispose its oil and gas properties in North Dakota and Montana, US.
The deal implies a net value of $73m and the assets to be sold under the transaction include approximately 122,000 net acres and three rigs.
Parsley Energy, Inc. has announced the pricing of a public offering of 8.25m class A common shares and upsizing of 250,000 shares. The underwriters have been granted a 30-day option to buy an additional 1,237,500 shares.
Scheduled for completion by 27 May 2016, the issue will raise approximately $203m, which will be used by Parsley to fund acquisitions and general corporate functions.
Parsley appointed Credit Suisse Securities (USA) as a sole book-runner and Vinson & Elkins as legal advisor for the public issue.
Gaz Metro Inc. (GMi) has announced the closure of a private placement of Series S First Mortgage Bonds worth $100m. The bonds bear a coupon rate of 1.52% and will mature on 25 May 2020.
The amount raised from the placement is lent to Gaz Métro Limited Partnership, which will use the proceeds to repay its liabilities and to fund general corporate functions.
GMi has appointed National Bank Financial and CIBC World Markets as joint book running managers and co-lead private placement agents for the transaction.
