Integrated Oil / Gas
Paramount Resources Ltd Announces Common Share Offering
Paramount Resources Ltd announced that it has entered into an agreement to sell to a syndicate of underwriters led by BMO Capital Markets, on a bought deal basis, 3,500,000 Class A Common Shares to be issued at a price of $37.50 per share for gross proceeds of $131,250,000. In addition, the underwriters will also have an over-allotment option for 15% of the offering exercisable at any time until 30 days following the closing. The shares will be offered for sale by the underwriters in all provinces of Canada (excluding Quebec) by way of a prospectus supplement. Closing of this offering is expected to occur on or about May 22, 2013. The net proceeds of the offering will be used to fund Paramount's 2013 capital expenditure program and for general corporate purposes. The completion of the offering is subject to Paramount receiving all necessary regulatory approvals.
MCW Energy Group Ltd Enters Into Shares For Debt Transaction
MCW Energy Group Ltd announced that it has entered into an agreement with an arms-length lender, pursuant to which MCW will issue 6,095,215 common shares in satisfaction of indebtedness of $3,657,129 currently owed to such lender in principal plus interest pursuant to a previously issued convertible debenture, based on an agreed issue price of $0.60 per share. MCW determined to satisfy the indebtedness with common shares in order to preserve its cash for use on the construction of its extraction technology in the Uinta Basin of Utah, USA. The shares will be issued upon acceptance by the Exchange. The common shares issued in satisfaction of the indebtedness will be subject to a four month statutory hold period from the date of issuance.
Dundee Energy Ltd Announces Completion of $8.9 Million Fully Subscribed Rights Offering
Dundee Energy Ltd announced that it has completed its previously announced rights offering (the Rights Offering), which expired on April 4, 2013. The Rights Offering was fully subscribed raising gross proceeds to the Corporation of $8,886,745. The Corporation will issue an aggregate of 5,734,067 common shares and 17,787,596 "flow-through" common shares (collectively, the Rights Shares). The Rights Shares are issuable to eligible persons who exercised rights issued under the Rights Offering, as described in the rights offering circular of the Corporation dated February 27, 2013 (the Circular). The proceeds of the Rights Offering will be used as described in the Circular. Following the issuance of the Rights Shares, the Corporation will have 188,173,310 common shares issued and outstanding.
Crestwood Midstream Partners LP Prices Public Offering Of Common Units
Crestwood Midstream Partners LP announced that it has priced its public offering of 4,500,000 common units representing limited partner interests at $23.90 per unit. Crestwood has granted the underwriters a 30-day option to purchase up to 675,000 additional common units. Crestwood intends to use the net proceeds from the offering, including the proceeds from any exercise of the underwriters' option to purchase additional common units, to reduce the indebtedness outstanding under its revolving credit facility and the Crestwood Marcellus Midstream LLC revolving credit facility, and for general partnership purposes. The amount repaid under Crestwood's revolving credit facility may be reborrowed by Crestwood and used to fund both future acquisitions and growth capital expenditures. Citigroup, Barclays, RBC Capital Markets and UBS Investment Bank are acting as joint book-running managers for the offering. Ladenburg Thalmann & Co. Inc. is acting as the co-manager for the offering.
Crestwood Midstream Partners LP Announces Public Offering Of Common Units
Crestwood Midstream Partners LP announced that it has commenced a public offering of 4,500,000 common units representing limited partner interests. The units will be offered by Crestwood pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission (the SEC). Crestwood also intends to grant the underwriters a 30-day option to purchase up to 675,000 additional common units. Crestwood intends to use the net proceeds from the offering, including the proceeds from any exercise of the underwriters' option to purchase additional common units, to reduce the indebtedness outstanding under its revolving credit facility and the Crestwood Marcellus Midstream LLC revolving credit facility, and for general partnership purposes. The amount repaid under Crestwood's revolving credit facility may be reborrowed by Crestwood and used to fund both future acquisitions and growth capital expenditures. Citigroup, Barclays, RBC Capital Markets and UBS Investment Bank are acting as joint book-running managers for the offering.
Dundee Energy Ltd Announces Launch of Rights Offering
Dundee Energy Ltd announced the terms of a rights offering to existing shareholders to raise gross proceeds of between approximately $8.0 and $9.2 million (the "Rights Offering"). The Corporation has received a notice of acceptance in respect of the Rights Offering from its principal regulator and expects to receive notices of acceptance from the remaining jurisdictions shortly. Dundee Energy will be offering to eligible holders of its outstanding common shares (each, a "Common Share") of record as at the close of business on March 12, 2013 (the "Record Date") transferable rights (each, a "Right") to subscribe for common shares ("Rights Common Shares") or flow-through Common Shares ("FT Common Shares" and, together with the Rights Common Shares, the "Rights Shares") or a combination thereof, on the terms set forth in a rights offering circular (the "Rights Offering Circular") to be mailed by the Corporation to shareholders (and which will also be available on SEDAR). Dundee Energy expects the gross proceeds of this Rights Offering to be approximately $9.2 million, assuming full participation on the basis of Rights FT Shares. The Company intends to use the net proceeds of the Offering to fund an exploration program on the Corporation's southern Ontario assets and will renounce to subscribers of Rights FT Shares eligible Canadian exploration expenses ("CEE") in an amount equal to the subscription amount.
Oando Plc Announces Closing of Rights Issue
Oando Plc announced that the Rights Issue of 4,548,236,276 ordinary shares of 50 kobo each at NGN 12.00 per share on the basis of two new ordinary shares for every one ordinary share of 50 kobo each held (the Rights Issue), closed February 20, 2013. The expected date for allotment of the Excess Rights Issue shares will be on or about April 24, 2013.
PT Sugih Energy Tbk Increases Shares Through Warrants
Indonesia Stock Exchange (IDX) reported that PT Sugih Energy Tbk has increased its shares to 24,677,177,000 on February 20, 2013, through exercised warrants by the shareholders.
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Sector Summary
| Energy |  +1.23% |
| Basic Materials | +0.25% |
| Industrials | +0.75% |
| Cyclical Goods & Services | +0.53% |
| Non-Cyclical Goods & Services |  -0.12% |
| Financials | +0.91% |
| Healthcare | +0.16% |
| Technology | +0.81% |
| Telecoms | -0.60% |
| Utilities | +0.41% |
| DOW | 15,354.40 | +121.18 |
+0.80% |
| S&P 500 | 1,667.47 | +17.00 |
+1.03% |
| NASDAQ | 3,498.97 | +33.72 |
+0.97% |
| TR US Index | 151.30 | +1.53 |
+1.02% |
Analyst Research
| Report Title | Price |
|---|---|
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Provider: Swiss Capital
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$276.00
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Provider: Swiss Capital
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$35.00
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Provider: Wall Street Transcript ,The
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$50.00
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Provider: GlobalData
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$125.00
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Provider: GlobalData
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$125.00
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