Grey Wolf Inc. (Amex: GW), Houston, offered 13 million common shares at a net price of $4 per share. Johnson Rice & Co. LLC was sole underwriter. The onshore drilling contractor will use net proceeds to purchase five top-drive units, for capital expenditures to return some of the company's rigs to marketed status when market conditions justify their reactivation, and for working capital and other corporate purposes. McMoRan Exploration Co. (NYSE: MMR), New Orleans, intends to offer approximately 3.5 million shares of common stock. The independent will use net proceeds, with cash flow from operations and a recently announced $50-million bank facility associated with its alliance with Halliburton Co. (NYSE: HAL), to expand its Gulf of Mexico oil and gas program. Lehman Brothers Inc.; Howard, Weil, Labouisse, Friedrichs Inc.; Petrie Parkman & Co.; Chase Securities Inc.; BMO Nesbitt Burns Corp.; and Southcoast Capital LLC are underwriters. McMoRan Exploration has granted the underwriters a 15% option for additional shares to cover any overallotments. Matrix Oil & Gas Inc., Covington, La., completed two agreements to consolidate its ownership structure and provide immediate capital to pursue development and acquisition opportunities. The privately held independent sold $28.5 million of common and preferred stock to affiliates of EnCap Investments LLC for cash and certain limited partnership interests. Matrix also refinanced its existing bank debt, including that of an affiliated limited partnership, with a new $50-million revolving line of credit through Union Bank of California. Fosters Resources Ltd. (Canadian Venture: FRE), Calgary, will issue up to 20 million special warrants for up to C$15 million of gross proceeds in a best-efforts agency financing. Griffiths McBurney & Partners will lead the offering syndicate, which will include Stephen Avenue Securities Inc. Each special warrant will entitle the holder to acquire a common share of the independent and one half of one common share purchase warrant, subject to adjustment in certain circumstances. Each purchase warrant will entitle the holder to acquire one common share of Fosters for up to 18 months from the closing date for C$1 on or before Feb. 9, 2001, and C$1.40 thereafter. Fosters will use proceeds to fund its share of Melut Petroleum Co. Ltd.'s obligations under a previously announced exploration and production agreement.
Haynesville to Lead Gas Production Growth in 2023
2023-03-30 - Enverus expects the Haynesville to lead gas production growth in 2023 and then fall thereafter before growing again between 2025 and 2027, Bernadette Johnson, the firm’s general Manager, said at Hart Energy’s DUG Haynesville conference in Shreveport, Louisiana.
Southwestern’s Haynesville Chief on M&A, Gulf Coast Advantages and RSG [WATCH]
2023-03-30 - Andy Huggins, senior vice president of the Haynesville division at Southwestern Energy Co. discusses M&A, how the company’s Appalachia and Haynesville assets complement each other and efforts to certify its natural gas as responsibly sourced, particularly for utilities and end-users in Europe.
McDermott Wins Manatee FEED
2023-03-28 - The Trinidad and Tobago Manatee field is planned to start production in 2027.
Electrifying the Permian: BPX Energy Touts Emissions Reductions in the Basin
2023-03-28 - BPX Energy’s electrification efforts in the Permian Basin and the installation of centralized handling facilities are part of the operator’s roadmap to net zero emissions.
Norway Awards Nearly Four Dozen Offshore Permits
2023-01-10 - Equinor scooped up more than half the licenses awarded.