SSN 0.00% 1.5¢ samson oil & gas limited

Could be a worrisome sign - E&P companies tapping the equity...

  1. 10,693 Posts.
    lightbulb Created with Sketch. 3484
    Could be a worrisome sign - E&P companies tapping the equity markets to delever.


    "You've seen companies enter the capital markets to fund their 2015 budgets, ensure they don't trip their loan covenants should oil prices remain depressed, or just simply to shore up their balance sheets."

    http://www.rigzone.com/news/oil_gas...ales_To_DeLever/?all=HG2#sthash.7AgtG49R.dpuf

    "Investment-grade rated Noble (Baa2/BBB-) sold 21m shares overnight Wednesday via Goldman Sachs and JP Morgan at $47.50, in the upper half of the $46.50-$48.00 marketing range and relative to a $49.81 last sale. "

    "Newfield Exploration (Ba1/BBB-) surfaced Thursday morning with a sale of 22m shares at $33.00, an increase from the 18m shares that had been marketed at $32.60-$33.70 via sole bookrunner Credit Suisse."

    "Adding to the wave of recapitalizations, Concho Resources secured roughly $600m on a capital-committed stock sale after the market close Thursday. Bank of America Merrill Lynch, sole books, is looking to off-load its purchase of 5.6m shares at $108.00-$109.50, versus a $112.97 last sale, with final pricing due Friday morning."

    I also know of PXD, BCEI and SYRG that have closed on equity offerings
 
watchlist Created with Sketch. Add SSN (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.