CompanyExchange / SymbolHeadquartersAmountComments
Teekay Offshore Partners LPNYSE: TOONassau, BahamasUS$169.1 millionClosed its IPO of 8.1 million units at US$21 each. Citigroup Corporate and Investment Banking and Merrill Lynch & Co. were joint book-running managers and Morgan Stanley, A.G. Edwards, Deutsche Bank Securities, Raymond James & Associates, Simmons & Co. International, DnB NOR Markets and Fortis Securities were underwriters.
PrimeWest Energy TrustToronto: PWI-UNCalgaryC$149.9 millionOffered 6.4 million units at C$23.35 each to pay debt. Scotia Capital Inc. and CIBC World Markets Inc. were co-lead agents and BMO Nesbitt Burns Inc., HSBC Securities (Canada) Inc., National Bank Financial Inc., RBC Dominion Securities Inc., TD Securities Inc., Canaccord Capital Corp., Desjardins Securities Inc., FirstEnergy Capital Corp., Dundee Securities Corp. and GMP Securities LP were agents.
Edge Petroleum Corp.Nasdaq: EPEXHoustonUS$136.2 millionPlans to publicly offer 9.2 million shares at approximately US$14.80 each and 2 million series A cumulative convertible shares for an undetermined price to fund acquisition of assets from Smith Production Inc., refinance its revolving credit facility, pay debt, fund drilling and for corporate purposes. J.P. Morgan Securities Inc. and Raymond James & Associates Inc. are joint book-runners for both offerings.
Legacy Reserves LPNasdaq: LGCYMidland, TexasUS$114 millionPriced its IPO of 6 million units at US$19 each to pay debt from its credit facility and for general partnership purposes. Wachovia Capital Markets LLC and Friedman, Billings, Ramsey & Co. Inc. were joint book-running managers and Raymond James & Associates Inc., RBC Capital Markets Corp., Oppenheimer & Co. Inc. and Stifel Nicolaus & Co. Inc. were co-managers.
Prospect Energy Corp.Nasdaq: PSECNew YorkUS$106.2 millionPlans to sell 6 million shares at US$17.70 each to pay debt, fund investments and for general corporate purposes. Morgan Keegan & Co. Inc. is underwriter.
Allis-Chalmers Energy Inc.Amex: ALYHoustonUS$83.3 millionPlans to publicly offer 4.5 million shares at US$18.50 each to pay debt and for general corporate purposes. RBC Capital Markets Corp. is book-running manager and lead underwriter, and Johnson Rice & Co. LLC, Morgan Keegan & Co. Inc. and Pritchard Capital Partners LLC are co-managers.
Rancher Energy Corp.OTCBB: RNCHDenverUS$61 millionPrivately placed 40.7 million shares at approximately US$1.50 each to fund acquisition of fields in Wyoming's Powder River Basin.
Kodiak Oil & Gas Corp.Amex: KOGDenverUS$50.1 millionPublicly offered 12.1 million shares at US$4.15 each to fund a portion of its 2007 capex. KeyBanc Capital Markets was lead manager and A.G. Edwards, Merrill Lynch and Petrie Parkman & Co. were co-managers.
Debt
Opti Canada Inc.Toronto: OPCCalgaryUS$1.4 billionPlaced US$1 billion of 8.25% senior secured notes due 2014 and a C$500-million (US$443-million) revolving credit facility. Credit Suisse and RBC Capital Markets were joint book-running lead managers for the secured notes, TD Securities was joint lead manager and RBS Greenwich Capital, Scotia Capital, BNP Paribas and Société Générale were syndicate agents. The bank syndicate for the revolving credit facility was co-led by TD Securities and RBC Capital Markets, Credit Suisse was lead manager and The Royal Bank of Scotland Plc, The Bank of Nova Scotia, BNP Paribas (Canada) and Société Générale were syndicate agents.
CCS Income TrustToronto: CCR-UNCalgaryC$700 millionClosed a C$430-million extendible revolving and term credit facility led by Toronto Dominion Bank with a C$400 million three-year revolving facility and a 6.37% C$30-million non-revolving, non-amortizing term facility due 2011.
Chaparral Energy Inc.NAOklahoma CityUS$275 millionPrivately placed 8.975% senior notes due 2017 to pay debt, fund capex and for general capital purposes.
Allis-Chalmers Energy Inc.Amex: ALYHoustonUS$225 millionPlans to privately place senior notes due 2017 to pay debt under its $300-million bridge-loan facility used to fund its acquisition of substantially all the assets of Oil & Gas Rental Services Inc.
Dalbo Holdings Inc.NAVernal, UtahUS$155 millionEntered a senior secured credit facility to fund the acquisition of Dawn Trucking Corp. and BHS Inc. to expand services in New Mexico and Colorado. GE Energy Financial Services was lead arranger and book-running agent.
BPZ Energy Inc.Pink Sheets: BPZIHoustonUS$100.5 millionPlans to enter US$30.5-million and US$70-million debt facilities to fund a gas-to-power project in the Corvina gas field offshore Peru.
Aban Offshore Ltd.Bombay: 523204Chennai, IndiaUS$100 millionEntered a medium-term facility to fund the acquisition of Sinvest ASA. The underwriter was UTI Bank Ltd.
Newpark Resources Inc.NYSE: NRMetairie, La.US$100 millionEntered a $100-million revolving credit facility due 2011 with its bank group led by JP Morgan Chase Bank NA to replace its existing $70-million credit facility.
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