CorEnergy Infrastructure Trust Inc. (NYSE: CORR) opened a public offering of depositary shares, the company said Jan. 22.
Each share represents 1% of a share of CorEnergy’s new Series A cumulative redeemable preferred stock, which will pay quarterly dividends at an annual rate to be set at the pricing of the offering.
Underwriters were granted a monthlong option to purchase additional depositary shares.
Kansas City, Mo.-based CorEnergy will file to list the shares on the New York Stock Exchange under the ticker “CORRPrA,” the company said, noting that if approved, trading should occur a month after the offering closes.
Net proceeds will repay revolving credit debts and support general corporate purposes.
Wells Fargo Securities LLC, BofA Merrill Lynch, and Stifel are joint book-running managers.
Recommended Reading
Sangomar FPSO Arrives Offshore Senegal
2024-02-13 - Woodside’s Sangomar Field on track to start production in mid-2024.
CNOOC Makes 100 MMton Oilfield Discovery in Bohai Sea
2024-03-18 - CNOOC said the Qinhuangdao 27-3 oilfield has been tested to produce approximately 742 bbl/d of oil from a single well.
Proven Volumes at Aramco’s Jafurah Field Jump on New Booking Approach
2024-02-27 - Aramco’s addition of 15 Tcf of gas and 2 Bbbl of condensate brings Jafurah’s proven reserves up to 229 Tcf of gas and 75 Bbbl of condensate.
Shell Brings Deepwater Rydberg Subsea Tieback Onstream
2024-02-23 - The two-well Gulf of Mexico development will send 16,000 boe/d at peak rates to the Appomattox production semisubmersible.
CNOOC Finds Light Crude at Kaiping South Field
2024-03-07 - The deepwater Kaiping South Field in the South China Sea holds at least 100 MMtons of oil equivalent.