EQUITY
CompanyExchange / SymbolHeadquartersAmountComments

Exco Resources Inc.NYSE: XCODallasUS$2 billionPlans to privately place up to US$400 million of 6% cumulative convertible perpetual preferred stock and $1.6 billion of 11% cumulative preferred stock to fund its acquisition in the Vernon and Ansley fields in Louisiana from Anadarko Petroleum Corp. and pay debt.

Linn Energy LLCNasdaq: LINEHoustonUS$360 millionPrivately placed 6.7 million units and 7.5 million class C units at approximately US$25.50 each to fund its acquisitions in Texas and West Virginia. Lehman Brothers Inc., Citigroup Global Markets Inc., RBC Capital Markets Corp. and Jefferies & Co. Inc. were lead placement agents.

Black Rock Oil & Gas PlcLondon: BLRReading, U.K.US$311.4 millionPlaced 317 million shares at approximately US$0.98 each.

Edge Petroleum Corp.Nasdaq: EPEXHoustonUS$250.9 millionPlans to publicly offer 9.5 million shares at US$13.25 each for a total US$125.9 million and 2.5 million 5.75% series A cumulative convertible perpetual preferred stock at US$50 each to fund the acquisition of properties from Smith Production Inc., finance its revolving credit facility and for general corporate purposes. Raymond James & Associates Inc. and J.P. Morgan Securities Inc. are joint book-runners for both offerings.

SandRidge Energy Inc.NAOklahoma CityUS$250 millionPlans to privately sell US$200 million in shares to Ares Management LLC and US$50 million to SandRidge chairman and chief executive Tom L. Ward.

Black Hills Corp.NYSE: BKHRapid City, S.D.US$150.1 millionPlans to sell 4.17 million shares at US$36 each to reduce debt.





DEBT

Apache Corp.NYSE, Nasdaq: APAHoustonUS$1.5 billionSold $500 million in 5.6% coupon notes due 2017 and US$1 billion in 6% coupon notes due 2037. Banc of America Securities LLC and J.P. Morgan Securities Inc. were joint book-running managers.

Addax Petroleum Corp.Toronto: AXCCalgaryC$1.5 billionEntered a five-year senior secured reducing revolving credit facility with a C$1.2-billion tranche and a C$300-million credit tranche to pay a bridge facility, fund capex and for general corporate purposes. BNP Paribas, Natixis and Standard Chartered Bank are arrangers.

Quicksilver Resources Inc.NYSE: KWKFort Worth, TexasUS$1.2 billionAmended and expanded its five-year revolving credit facility with an $850-million initial borrowing base led by JPMorgan Chase Bank to fund capital and development.

Southwestern Energy Co.NYSE: SWNHoustonUS$750 millionIncreased its unsecured revolving credit facility due 2010 from US$500 million. J.P. Morgan Securities Inc. and SunTrust Robinson Humphrey, a division of SunTrust Capital Markets Inc., were co-lead arrangers and joint book-runners, JPMorgan Chase Bank was administrative agent and a lender and SunTrust Bank was syndication agent. Bank of America NA Royal Bank of Canada and Royal Bank of Scotland Plc were co-documentation agents and BMO Capital Markets Financing Inc., Mizuho Corporate Bank Ltd. and nine other banks were lenders.

Linn Energy LLCNasdaq: LINEHoustonUS$725 millionIncreased the borrowing base of its credit facility from US$480 million to fund its acquisitions in Texas and West Virginia.

Compagnie Generale de NYSE: CGVParisUS$600 million Offered US$200 million in 7.5% senior notes due 2015 and US$400Geophysique-Veritasmillion in 7.75% senior notes due 2017 to pay the bridge loan used to fund the merger of CGG and Veritas.

Oceaneering International Inc.NYSE: OIIHoustonUS$300 millionIncreased its existing US$250-million revolving credit facility and extended maturity to January 2012 to fund general corporate purposes. Wells Fargo Bank was administrative agent and lead arranger, DnB Nor Bank ASA was syndication agent, HSBC Bank USA, JP Morgan Chase Bank and Bank of Tokyo-Mitsubishi UFJ Ltd. were co-documentation agents, and Comerica Bank, Amegy Bank and Citibank also participated.

Allis-Chalmers Energy Inc.Amex: ALYHoustonUS$250 millionPrivately offered 8.5% senior notes due 2017 to pay debt used to acquire substantially all the assets of Oil & Gas Rental Services Inc.

Headwaters Inc.NYSE: HWSouth Jordan, UtahUS$160 millionPrivately offered 2.5% convertible senior subordinated notes due 2014 to pay debt from its senior secured credit facility and other loans.

Leor Energy LPNAHoustonUS$150 millionEntered a three-year senior secured revolving credit facility with a US$40-million initial borrowing base with JPMorgan Chase Bank to fund a seven-rig drilling program in the Deep Bossier trend in East Texas.

Trico Marine Services Inc.Nasdaq: TRMAHoustonUS$150 millionSold an additional US$25 million of senior convertible debt due 2027 to fund general corporate purposes.

Calfrac Well Services Ltd.Toronto: CFWCalgaryUS$135 millionSubsidiary Calfrac Holdings LP privately offered 7.75% senior notes due 2015 to pay existing debt, fund 2007 capex and for general corporate purposes.

Comments