Northern Oil and Gas, Inc. (ticker: NOG) expects its Q1 2018 average daily production to increase by 5% to 6% over fourth quarter 2017 – a sequential increase of nearly 1,000 BOEPD. In a similar vein, Northern will be raising its full year 2018 production guidance, and the company is now expecting average daily production to increase by 18% to
Pioneer Natural Resources Acquires Midland Basin Acreage with $827 Million Secondary Offering Devon Energy Corp. has been piling up the assets sales so far in 2016, announcing on June 15, 2016, the most recent divestiture of assets in the Midland Basin for a cumulative $858 million. This is comprised of two separate transactions, both in the Midland Basin. In the
On March 7, 2016, PDC Energy, Inc. (ticker: PDCE) announced the company would offer 5,922,500 shares, including the expected purchase of overallotments, in common equity to the market. The offering is expected to bring in gross proceeds of $262.7 million dollars. The net proceeds from this offering will be used to repay the principal amounts owed upon the maturity of
Paying down debt, looking at Permian acquisitions On March 3, 2016, Callon Petroleum (ticker: CPE) announced its intent to issue a total allotment of 15,250,000 shares of common stock including the underwriter’s option, resulting in net proceeds of $86.2 million. Callon intends to use the proceeds from the offering to pay down the existing balance on their revolving credit facility,
Cabot Oil & Gas (ticker: COG; CabotOG.com) announced on February 22, 2016, the company is commencing a public offering of 44,000,000 shares of its common stock at a price of $20.00 per share. An additional 6,600,000 shares will be available to the underwriters. The Company expects to use the net proceeds from the offering for general corporate purposes, including repaying indebtedness
EQT Corp. issued 7.475 million shares (includes overallotment) at a price to the public of $58.50 per share for gross proceeds of ~$426 million. The offering price was at a ~4% discount to yesterday’s close. The company’s line for the capital issuance was to maintain its investment grade rating. At Sept 30, 2015, EQT had cash of $1.66 billion, no
RSP Permian (ticker: RSPP), a Permian pure-play with more than 47,000 acres in West Texas, has signed a letter of intent to increase its footprint by about 4,100 net acres for an aggregate purchase price of $137 million. The agreement, made on October 7, 2015, is expected to close in Q4’15 and is part of a privately negotiated agreement with
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