PetroFrontier Corp. has signed a non-binding letter of intent with Kasten Energy Inc. for the acquisition of oil and gas assets within the Cold Lake area of north-eastern Alberta, Canada.
The deal implies a value of approximately $13m, which will be funded through a combination of debt and equity.
Scheduled for completion on or before 30 June 2016, the transaction will add approximately 250 barrels of oil per day (boepd) to the existing production base of PetroFrontier.
Sundance Energy Australia Limited has announced a private placement to raise $57.83m. The placement involves the issue of 615.4m shares, at a price of $0.09 each.
Sundance has appointed Euroz Securities Ltd and Canaccord Genuity (Australia) Ltd as joint book-running managers for the transaction.
The amount raised from the private placement is intended to be used by Sundance to support working capital requirements and general corporate functions.
Awilco LNG ASA has agreed to sell its WilGas and WilEnergy LNG carriers to an undisclosed company.
The WilGas and WilEnergy vessels have dead weight tonnages of 67,552t and 67,055t, respectively.
The vessels are expected to be transferred to the new owner by 15 September 2016.
PetroShare Corp. has signed a pact with an undisclosed company to acquire oil and gas properties in Adams County, north-eastern Colorado, in the US.
The assets occupy an area of approximately 4,850 gross acres and provide the company an additional production capacity of approximately 125 barrels of oil equivalent per day.
Scheduled for completion in the second quarter of 2016, the acquisition will enable PetroShare to expand its presence in the DJ Basin of north-eastern Colorado.
Trican Well Service Ltd. has announced a public issue for raising $30.62m. The bought deal offer involves the issue of 25m shares priced at $1.22 each.
Underwriters including RBC Capital Markets, LLC and The Bank of Nova Scotia have been provided with a 30-day overallotment option to buy an additional 3.75m shares.
The amount raised from the issue will be used by Trican to minimise its indebtedness and to support general corporate functions.
