Equity Company Exchange / Symbol Headquarters Amount Comments APF Energy Trust (Toronto: AY) Calgary C$55.1 million Issued 5.3 million trust units at C$10.40 each. Scotia Capital was the underwriter. Pan-Global Ventures Ltd. (Toronto: PIE) Vancouver C$7.5 million Plans to issue up to 5 million flow-through common shares at C$0.80 each and up to 5 million units at C$0.70 each. AltaCanada Energy Corp. (Canadian Venture: ANG) Calgary C$4.1 million Privately placed 6.22 million common shares with Acumen Capital Finance Partners Ltd. as agent and a nonbrokered private placement of 1.22 million common shares, all at C$0.55 each. Proceeds will fund the acquisition of acreage in Montana and drilling activities in Alberta. Hawker Resources Inc. (Toronto: HKR) Calgary C$3.6 million Issued 498,798 common shares and 430,493 units convertible into 6 million equity shares. Pacific Amber Resources Ltd. (Canadian Venture: PVR) Calgary C$1.5 million Privately placed 7.5 million common shares at C$0.20 each. Salman Partners Inc. was manager. Proceeds will be used for exploration and development programs. EuroGas Inc. (OTC BB: EUGS) Vancouver C$1.5 million Privately placed 10 million restricted common shares at C$0.15 each. Proceeds will be used to continue development work and for general corporate purposes. Heartland Oil and Gas Corp. (OTC BB: HOGC) Vancouver C$1.4 million Issued 1 million units at C$1.40 each. Proceeds will fund drilling and be used to acquire acreage and for general working capital. Shaker Resources Inc. (Canadian Venture: SHR) Calgary C$1 million Plans to offer up to 1 million common shares at C$1 each. Proceeds will be used for exploration and development in central Alberta. River Valley Energy Services Ltd. (Canadian Venture: RVD) Grimshaw, Alberta Up to C$750,000 Plans to privately place up to 3 million common shares at C$0.25 each. Proceeds will pay debt. Debt Result Energy Corp. (Canadian Venture: RTE) Calgary C$708,999 Privately placed 2.4 million units consisting of one common share and 0.50 of one nontransferable warrant to acquire one flow-through common share at C$0.35 each. Proceeds will fund acquisitions and be used for general corporate purposes. Wolverton Securities Ltd. was agent. KeySpan Corp. (NYSE: KSE) New York City US$300 million Sold US$300 million of notes in a two-part deal. ABN Amro and Salomon Smith Barney were managers. XTO Energy Inc. (NYSE: XTO) Fort Worth US$300 million Plans to privately place approximately US$300 million of senior notes due 2013. Proceeds will fund acquisitions. Atwood Oceanics Inc. (NYSE: ATW) Houston US$225 million Received a US$225 million senior secured credit facility with several banks. Nordea Bank Finland Plc is lead arranger. The facility consists of a $150 million term loan facility and a $75 million revolving loan facility. Frontier Oil Corp. (NYSE: FTO) Houston US$220 million Sold US$220 million of 10-year senior notes. Bear Stearns & Co. and Lehman Brothers Inc. were managers. Natural Resource Partners LP (NYSE: NRP) Houston US$175 million Increased its credit facility to US$175 million from US$100 million. Range Resources Corp. (NYSE: RRC) Fort Worth US$170 million Received a US$23 million increase in its credit facility for a total loan value of US$170 million. Canadian Oil Sands Trust (Toronto: COS) Calgary C$150 million Plans to issue C$150 million principal amount of 5.75% unsecured notes maturing in 2008. CIBC World Markets Inc. is manager. Westport Resources Corp. (NYSE: WRC) Denver US$125 million Plans to privately place 8.25% senior subordinated notes due 2011. Brigham Exploration Co. (Nasdaq: BEXP) Austin, Texas US$80 million Received a three-year senior credit facility from Societe Generale, Bank of America, the Royal Bank of Scotland, Natexis Banque Populaires and Hibernia Bank. The facility provides for a maximum US$80 million in commitments and an initial borrowing base of US$70 million. PanOcean Energy Corp. Ltd. (Toronto: POC) Jersey, U.K. US$25 million Received a US$25 million, three-year revolving credit facility with a syndicate of international banks led by Standard Bank London Ltd. The Havana Group (OTC BB: HVGP) North Canton, Ohio US$5 million Received a credit facility of up to US$5 million over a three-year term from a private equity fund. Proceeds will be used for acquisition costs, drilling costs and operating capital. WellDog Inc. NA Laramie, Wyo. US$50,000 Has been approved for a US$50,000 loan through the Wyoming Business Council's new seed-capital loan program. WellDog is the first recipient of a loan through this new program. Qualified companies can receive up to US$50,000 during a maximum term of five years with a payback to the state of 200%.
Recommended Reading
Equinor to Invest $1B in Troll West Gas Project
2024-05-27 - Equinor awarded contracts to OneSubsea and SLB in the Troll Field as part of efforts the further develop gas infrastructure offshore Norway.
US Drillers Cut Oil, Gas Rigs for Fourth Time in Five Weeks
2024-05-24 - The oil and gas rig count, an early indicator of future output, fell by four to 600 in the week to May 24 the lowest since January 2022.
Aker Solutions’ Consultancy Arm Renamed Entr
2024-05-23 - Aker Solution’s newly christened Entr plans to double its revenue and headcount by 2030.
The ‘Necessary Evil’ of Four-mile Laterals
2024-05-23 - While extended length lateral wells can lead to massive profits, the risk might not always be worth it. At Hart Energy’s SUPER DUG, Diamondback Energy, SLB, NOV and others weighed the risk and rewards of drilling three- and four-mile laterals.
Up to 50 Firms Seek US Oil Licenses in Venezuela, Official Says
2024-05-23 - Washington aims to prioritize issuing licenses to companies with existing oil output and assets over those seeking to enter the sanctioned OPEC nation for the first time, sources told Reuters.