Synergy Resources Corporation has signed a pact with Noble Energy, Inc. for the acquisition of certain oil and gas assets in the Greeley Crescent area in DJ Basin, Colorado, US.
The transaction is implying a net value of $505m and will be funded through cash in hand and a private placement of notes.
Noble Energy has appointed Tudor, Pickering, Holt & Co., LLC as the financial advisor for the transaction.
EQT Corporation is acquiring 84% net revenue interest in Marcellus Shale in West Virginia, under an agreement with Statoil USA Onshore Properties, Inc.
The $407m transaction will also provide EQT drilling rights on 53,000 undeveloped net acres.
Scheduled for completion by 8 July 2016, the deal will allow EQT to expand its oil and gas assets portfolio in West Virginia.
Freehold Royalties Ltd. has agreed to acquire royalty production and mineral title lands in western Canada, from Husky Energy Inc. The transaction implies a cash value of $131.42m and transfer of royalty and working interests in certain heavy oil assets to Husky.
TD Securities Inc. is the financial advisor to Husky Energy for the acquisition, which is due for closure by 25 May 2016.
The cash part of the transaction will be funded by Freehold Royalties through the amount raised from public issue of 14,286,000 shares. The issue also provides the underwriters a 30-day option to buy up to 2,142,900 shares.
Freehold Royalties Ltd has simultaneously announced a private placement for the issue of approximately 1,732,000 shares, valued at approximately $16m.
The transaction is scheduled for closure by the end of May 2016 and will help raise enough funds for Freehold Royalties to repay its liabilities.
RBC Capital Markets, Canadian Imperial Bank of Commerce (CIBC) and TD Securities are the issue’s underwriters.
EQT Corporation has announced the pricing for its upsized public issue of 10.5 million shares, to raise approximately $703.5m. The issue also provides underwriters an option to buy up to 1,575,000 additional shares.
The amount raised from the offering will be used to finance acquisitions and support general corporate functions.
Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC are the joint-book running managers for the issue.
Image: EQT will acquire interest in Marcellus Shale in West Virginia from Statoil USA Onshore Properties. Photo: courtesy of Lvklock.
