Whitecap Resources has agreed to buy certain light oil assets located in Saskatchewan, Canada, from Cenovus Energy, for a cash consideration of $741.19m.

The purchase consideration will be partly funded by Whitecap Resources through the proceeds from a private placement and a revolving credit facility.

The sale involves the transfer of a 62.1% interest in Weyburn carbon-dioxide enhanced oil recovery project (Weyburn Unit) and certain minor assets located in south-east Saskatchewan. The net production of the assets is estimated to be 14,800 barrels of oil equivalent a day (boed).

Whitecap Resources has appointed National Bank Financial as financial advisor for the transaction.

Scheduled for completion on or before 14 December, the transaction will enable Whitecap Resources to expand its asset base.

Savannah Petroleum has agreed to a $140m acquisition of interest in oil and gas assets and midstream assets located in Nigeria from Seven Energy International.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The consideration will be funded by Savannah Petroleum through a combination of cash and equity.

The transaction will involve the transfer of 40% interest in Uquo oil and gas field, 51% stake in Stubb Creek oil and gas field, and a gas pipeline network and associated gas processing infrastructure.

The transaction will allow Savannah Petroleum to extend its oil and gas assets portfolio in Nigeria.

“Savannah Petroleum has agreed to a $140m acquisition of interest in oil and gas assets and midstream assets located in Nigeria from Seven Energy International.”

PDC Energy intends to raise $600m through the private placement of 5.75% senior unsecured notes due 2026.

The proceeds from the placement are intended to be used by the company to redeem its 7.75% senior notes due 2022, to partly fund an acquisition, and for general corporate purposes.

The placement is scheduled for completion on 29 November.

Centennial Resource Development, through its subsidiary Centennial Resource Production, intends to issue senior unsecured notes, due 2026, in a private placement to raise $350m.

The proceeds from the placement are intended to be used by Centennial Resource to repay all outstanding borrowings under its revolving credit facility and for general corporate purposes.

L6NRG has completed the acquisition of oil and gas properties located across 2,560 net acres in Uinta Basin of Wyoming, US.

The transaction allows L6NRG to expand its business operations into the Uinta Basin.