Sitio Royalties Corp. has upsized its offer to sell senior unsecured noted due in 2028 to $600 million from $500 million, the company said on Sept. 26.
The notes are being offered by subsidiaries Sitio Royalties Operating Partnership LP (Partnership) and Sitio Finance Corp. The offered notes will accrue interest at a rate of 7.875% per annum and mature on Nov. 1, 2028.
The offering is expected to close on Oct. 3, subject to customary closing conditions. Net proceeds from the offering are intended to fund the redemption of all of the Partnership’s outstanding senior unsecured notes due 2026 and repay a portion of the outstanding borrowings under the Partnership's revolving credit facility.
2023-10-12 - Kinetik is a relatively new company, having been formed just last year with the merger of Altus Midstream and EagleClaw Midstream. In this Hart Energy LIVE Exclusive, Kinetik CFO Trevor Howard walks through Kinetik's big projects and future plans
2023-11-10 - Northern Oil & Gas' CEO Nick O'Grady details the companies growth transformation since expanding into the Permian in this Hart Energy LIVE Exclusive Interview.
2023-11-05 - U.S. Energy Development Corp. board chairman Jordan Jayson explains the decision making for their large Permian Basin investment and sheds light on his thoughts about gas projects in this Hart Energy LIVE Exclusive Interview.
2023-11-15 - With induced seismicity always a concern when disposing of water in saltwater disposal wells, cooperation and the practicality of recycling are starting to make more sense — and provoe more cost-effective, XRI COO Chris Harich says.
2023-11-02 - Liberty Oilfield Services' vice president of engineering Leen Weijers delves into the company's improved technology for cleaner and efficient energy within the next year, in this Hart Energy LIVE Exclusive.