Southwestern Energy announced a $1.85bn purchase of assets in the US Haynesville basin held by private equity firms.
Under the deal, announced in early November, Southwestern has paid $1.33bn in cash and issued $525mn of its shares to acquire GEP Haynesville, a joint venture between Blackstone-backed GeoSouthern and Texas-based private equity firm Woodlands. Southwestern raised $1.15bn from the sale of notes and took out a $550mn loan to fund the purchase in December.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
“The transaction builds further scale in the Haynesville, deepens the company’s inventory, improves key financial metrics, including margins, returns and per-share ratios, fortifies Southwestern’s financial strength and enhances the company’s leading presences in the two premier natural gas basins in the US,” Southwestern said in its latest statement.
Source: Natural Gas World
Can’t stop reading? Read more
PAI and Nestlé to receive €4.4bn payout as Froneri prices landmark debt deal
PAI and Nestlé to receive €4.4bn payout as Froneri prices landmark debt deal Froneri...
Warburg Pincus acquires majority stake in Keystone Agency Partners as Bain Capital retains minority position
Warburg Pincus acquires majority stake in Keystone Agency Partners as Bain Capital retains...
EQT posts 32% profit jump as H1 exits surge to €13bn
EQT posts 32% profit jump as H1 exits surge to €13bn EQT has reported a 32% year-on-year increase...