Energy Financial

Range Resources closes Nora asset sale for $865 million

Energy Financial

Range Resources revolving credit facility remains unchanged at $3 billion Fort Worth, Texas-based Range Resources Corporation today announced that it has completed the sale of its Nora assets in southwestern Virginia for $865 million. After purchase price adjustments based upon a November 1st effective date, Range will include the Nora operations for the full fourth quarter of […]

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WPX sells San Juan gathering system to focus on Permian Basin

Energy Financial

Sales part of WPX deleveraging plan following acquisition of Permian Basin properties in August TULSA, Okla. – WPX Energy says it is selling its San Juan Basin gathering system for approximately $309 million to a portfolio company of ISQ Global Infrastructure Fund, a fund managed by I Squared Capital. WPX is receiving $285 million cash subject

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Jericho Oil raising $6.929 million for Central Oklahoma wells, acreage

Energy Financial

Jericho Oil looking to raise money to fund acquisition of producing wells and prospective acreage in Oklahoma Jericho Oil Corporation has announced it is proceeding with a non-brokered private placement of approximately 17,323,610 units at a price of $0.40 per unit to raise total gross proceeds of approximately $6.929 million. Each unit will be comprised

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ISIS financing: UN Security Council to adopt resolution aimed at disrupting funds

Energy Financial

ISIS financing comes from oil, antiquities sales, ransom payments Finance ministers from the 15 Security Council nations will adopt a plan Thursday aimed at disrupting revenue that the Islamic State extremist group gets from oil and antiquities sales, ransom payments and other criminal activities. The Islamic State group, also known as ISIL and Daesh, is

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Earthstone Energy enters Midland Basin by acquiring Lynden Energy

Energy Financial

Earthstone’s most significant assets are located in the Eagle Ford trend of south Texas, while Lynden Energy Corp’s significant assets are located in the Midland Basin Earthstone Energy, Inc. is acquiring Lynden Energy Corp. in an all-stock transaction, the parties announced Thursday. At closing, Earthstone will issue approximately 3.7 million shares of its common stock to

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Magnum Hunter Resources files for Chapter 11 bankruptcy protection

Energy Financial

Agreement provides for debtor-in-possession financing in form of a $200 million senior secured multi-draw term loan Magnum Hunter Resources Corporation and its subsidiaries filed for bankruptcy protection Tuesday, saying it has the support of its lenders to restructure debt. The company has a restructuring support agreement with lenders that hold approximately 75 per cent in principal

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Strangled by low oil prices, Mexico gov’t slow on contractors’ payments

Energy Financial

Low oil prices could mean bankruptcy for Mexico’s largest construction firm MEXICO CITY _ Getting paid has always been hard for government contractors in Mexico, but seldom has the problem been so bad, as low oil prices batter government finances. The problem now has broken out into the open, with government contractors openly complaining and

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