Extraction Oil & Gas Inc. (NASDAQ: XOG) said Jan. 18 it priced an upsized offering of $750 million senior unsecured notes due 2026.
The offering of notes, which will bear interest at 5.625% per annum, was upsized from $600 million, according to the Denver-based company's press release.
Extraction said it expects to close the debt offering Jan. 25. Proceeds will partially be used to fund a tender offer to purchase $550 million of its outstanding 2021 notes. Any remaining proceeds will go toward the company's general corporate purposes, the release said.
Extraction is an independent E&P focused primarily in the Wattenberg Field in the Denver-Julesburg (D-J) Basin of Colorado. The company currently holds about 165,000 net acres in the D-J Basin core, according to a company presentation from December.
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