CenterPoint expects gross proceeds from the offering of approximately $250 million, and intends to use the proceeds for corporate purposes. (Source: Shutterstock)
CenterPoint Energy Inc. has priced an underwritten public offering of 9,754,194 shares of its common stock at $25.63 per share, the utility company announced Aug. 7.
CenterPoint expects approximately $250 million of gross proceeds from the offering, and intends to use the proceeds for corporate purposes, including repayment of a portion of its outstanding commercial paper—a form of unsecured, short-term debt.
CenterPoint faced flak from some Houston-area customers regarding its response to power failures from Hurricane Beryl in July. More than a million of its customers dealt with electrical outages, some for more than a week.
RELATED
Texas Restaurants Sue Utility CenterPoint Over Response to Hurricane Beryl
Over 1 Million in Texas Without Power, Freeport LNG Restart Pending After Beryl
Barclays Capital Inc. and Citigroup are acting as joint book-running managers and underwriters for the offering.
Recommended Reading
E&P Highlights: Dec. 9, 2024
2024-12-09 - Here’s a roundup of the latest E&P headlines, including a major gas discovery in Colombia and the creation of a new independent E&P.
E&P Highlights: Dec. 16, 2024
2024-12-16 - Here’s a roundup of the latest E&P headlines, including a pair of contracts awarded offshore Brazil, development progress in the Tishomingo Field in Oklahoma and a partnership that will deploy advanced electric simul-frac fleets across the Permian Basin.
E&P Highlights: Dec. 2, 2024
2024-12-02 - Here’s a roundup of the latest E&P headlines, including production updates and major offshore contracts.
E&P Highlights: Jan. 6, 2025
2025-01-06 - Here’s a roundup of the latest E&P headlines, including company resignations and promotions and the acquisition of an oilfield service and supply company.
Coterra Takes Harkey Sand ‘Row’ Show on the Road
2024-11-20 - With success to date in Harkey sandstone overlying the Wolfcamp, the company aims to make mega-DSUs in New Mexico with the 49,000-net-acre bolt-on of adjacent sections.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.