Magnum Hunter Resources Corporation announced today that its wholly-owned subsidiary, Triad Hunter, LLC (“Triad Hunter”), has executed a definitive agreement to acquire oil and gas properties and leasehold mineral interests located in Wetzel and Lewis Counties, West Virginia (the “Marcellus Assets”). The Seller of the asset portfolio is PostRock Energy Corporation (NASDAQ:PSTR – News), based out of Oklahoma City, Oklahoma. Triad... Read more..
Magnum Hunter Resources Corporation and (AMEX:MHR-PC – News) (“Magnum Hunter”, or the “Company”) announced today that it has entered into a definitive agreement to acquire Appalachian Basin focused NGAS Resources, Inc. (NASDAQ:NGAS – News) for approximately $98 million (USD) in common stock and assumed liabilities. Magnum Hunter has agreed to acquire NGAS for $0.55 per share with a fixed exchange ratio of 0.0846... Read more..
PostRock Energy Corporation today announced that it has entered into a definitive agreement with Magnum Hunter Resources Corporation (NYSE Amex:MHR) (“MHR”) to sell certain assets in Wetzel and Lewis Counties, West Virginia for aggregate consideration of $39.75 million. The consideration for the sale will consist of 50% cash and 50% MHR common stock. PostRock will use the sale proceeds to repay debt secured by the subject assets. The sale... Read more..
Ultrapetrol Limited announced today the closing of its offering of $80 million aggregate principal amount of convertible senior notes due 2017 (the “notes”), which consists of the previously announced $70 million aggregate principal amount of notes and the full exercise of the initial purchasers’ overallotment of $10 million. The notes will be offered and sold to qualified institutional buyers pursuant to Rule 144A under the Securities... Read more..
CAMAC Energy Inc. a U.S.-based energy company engaged in the exploration, development and production of oil and gas, today announced that the Company has entered into definitive agreements dated December 21, 2010 with certain accredited investors (the “Investors”) to sell in a registered direct offering an aggregate of approximately 9.09 million shares of its common stock at a price of $2.20 per share, and five-year warrants to purchase up to... Read more..
The Board of Directors of FirstEnergy Corp. (NYSE:FE – News) today declared an unchanged quarterly dividend of 55 cents per share of outstanding common stock and provided contingent dividend payment scenarios to reflect possible timing of the completion of FirstEnergy’s pending merger with Allegheny Energy, Inc. “Depending on the timing of the merger and other factors, shareholders may receive two separate dividend payments that... Read more..
The Board of Directors of Allegheny Energy, Inc.has authorized a cash dividend on the company’s common stock. The timing and the amount of such dividend is dependent on whether the pending merger with FirstEnergy Corp.If the proposed merger with FirstEnergy does not become effective on or before March 14, 2011, a dividend of $0.15 per outstanding share of common stock will be payable March 28, 2011 to stockholders of record at the close of business... Read more..
Zion Oil & Gas, Inc. announced today that on December 15, 2010, it completed its previously announced rights offering. The preliminary outcome of the rights offering, as of the close of business on December 15, 2010, indicates that subscriptions for approximately 3.65 million units, for gross proceeds of approximately $18.25 million, have been received (including over-subscriptions). All shareholders that requested over-subscription shares will... Read more..
BPZ Resources, Inc. announced that it closed the previously announced private placement of common stock for gross proceeds of approximately $43.6 million. The Company sold approximately 14.3 million shares to institutional and accredited investors at a price of $3.05 per share pursuant to a Stock Purchase Agreement dated as of February 19, 2009. Additionally, the International Finance Corporation (IFC) holds a right to participate in the offering... Read more..