IS - Gran Tierra sells $300MM in eight-year notes due 2027 - June 2019Calgary-based Gran Tierra Energy Inc. priced a private offering of $300 million
aggregate principal amount of 7.75% senior notes due 2027 to qualified institutional US
buyers under the guidelines of Securities and Exchange Commission Rule 144A and
to non-US buyers under the SEC’s Regulation S. The offering closed May 23.
The company, which
focuses on oil and gas
production in Colombia and Ecuador, will
use the nearly $290 million in expected net proceeds to repay borrowings under...
Jun 06, 2019
Gran Tierra closes $130MM raise, buying Colombian blocksGran Tierra Energy Inc. closed a public offering of 43.335 million common shares to investors in Canada and the US at $3.00 each for aggregate gross proceeds of about US$130 million. A 30-day underwriters’ overallotment option is still open for up to 6,500,250 common shares that, if fully exercised, will increase gross proceeds to $149.5 million. The company is dual-listed on the Toronto Stock Exchange and AMEX. The company plans to use net proceeds to repay borrowings outstanding...
Nov 19, 2016
People QuickNews - May 13, 2015Enerplus announced that Edwin Dodge is retiring from the board and will not stand for reelection. Dodge joined the board of Enerplus in 2004 and has helped grow the company over the last 11 years. In addition, Donald Nelson is choosing not to stand for reelection to the board. He joined the board of Enerplus in June 2012. Meanwhile, John Hoffman has been added to the executive team of Enerplus as VP of Canadian operations. He has 25 years of experience in the Canadian energy industry in both...
May 12, 2015
Drilling and more seismic on tap for Gran Tierra in 2014Calgary-based Gran Tierra Energy Inc. said its $467 million capex budget for 2014 will be spent on exploration and production development in Colombia, Brazil, Peru and Argentina. The budget calls for drilling 12 gross wells in Colombia and two gross wells each in Argentina and Peru. Nearly 59% of the $227 million drilling budget is for development and appraisal drilling and the rest goes to exploration drilling.Also, $136 million will go for seismic activities like Gran Tierra's 2,213...
Dec 10, 2013
Who's Hot, Who's Not --- As of September 25Upgrades:• Apache Corp. (APA/$86.63/$67.91/$89.17/$33.74B) from Perform to Outperform by Oppenheimer.• Callon Petroleum Co. (CPE/$5.20/$3.19/$6.36/$209.71M) from Sector Perform to Sector Outperform by Howard Weil. • Cimarex Energy Co. (XEC/$95.23/$55.74/$96.04/$8.24B) from Equalweight to Overweight by Morgan Stanley.• Comstock Resources Inc. (CRK/$15.87/$12.83/$21.16/$766.76M) from Accumulate to Buy by Global Hunter Securities.• Crimson Exploration Inc....
Sep 27, 2013
Gran Tierra projects 75% increase in output next yearGran Tierra Energy Inc. is projecting 2013 production to average ~27,000 boepd (96% light oil) from its operations in Colombia, Brazil, Peru and Argentina, up ~75% vs. 2012 forecast exit production of 20,000-21,000 boepd. The forecast assumes no pipeline disruptions.The company expects to spend $363 million on exploration and production next year, drilling 10 wells in Colombia, six wells in Argentina, two wells in Brazil and one in Peru. The capital spending program allocates $202...
Dec 13, 2012
Connacher decides not to pursue takeover bidConnacher Oil and Gas Ltd. announced December 13 that it will not pursue an unsolicited takeover offer from an unnamed company to acquire all of its outstanding shares. Connacher said its board had determined that the proposal "was not compelling." Regulators had asked the company to comment on unusual trading activity in its stock.
Connacher has a market value of around $291.4 million. In November, the company sold its Latornell properties, largely undeveloped lands situated in the Deep...
Dec 08, 2011
Gran Tierra & CEPSA expand Colombian JV partnershipGran Tierra Energy Inc. has entered into a farm-in agreement with CEPSA Colombia S.A., a subsidiary of Compania Espanola de Petroleos S.A.U., where Gran Tierra will earn a 45% WI in concession contract Llanos-22 and CEPSA will farm-in for a 30% WI on the Piedemonte Norte Block. Gran Tierra will operate Piedemonte and CEPSA will operate Llanos.
The Llanos-22 block encompasses ~84,757 acres, and the Piedemonte Norte block, located in the Putumayo Basin, encompasses ~78,742 acres. Gran Tierra...
Nov 01, 2011
Connacher divests Halfway Creek interests for $27MMConnacher Oil & Gas Ltd., following an auction process, sold its undivided 50% WI in lands at Halfway Creek, Alberta, situated south of Fort McMurray, for a cash consideration of $26.8 million before transaction costs. Proceeds will be used to pay down debt.
RBC Capital Markets advised Connacher on the transaction.
As a result, Connacher now has cash balances in excess of $75 million and expects to sell other non-strategic assets, including its interests in Latornell and its shareholding in...
Sep 30, 2011
IC - Americas Briefs - October 18, 2018Columbus Energy Resources
plc announced Oct. 15 that investors
including Schroder Investment
Management, Michael Joseph and
Burggraben Holding will buy 71,428,571
new ordinary shares at 3.5p each for
around £2.5 million in gross proceeds.
Columbus will repay a $1.25 million loan
from North Energy Capital and start
a drilling program on Trinidad assets
it acquired from its Steeldrum Oil
purchase. Shareholders must approve
the placement, which will increase shares
outstanding to over 830 million....
Oct 18, 2018
People & Companies Briefs - June 29, 2016Gran Tierra Energy has promoted four team members to executive positions. Ed Caldwell is now VP, health, safety and environment & corporate social responsibility, assisting the company with government and stakeholder relations in Gran Tierra's countries of operation. Susan Mawdsley, formerly corporate controller, is now VP, finance. Glen Mah has been appointed VP, business development, coordinating all of the company’s new business development efforts, and Rodger Trimble is the company’s...
Jun 29, 2016
People Briefs - May 19, 2015BP has added John Sawyers and Paula Rosput Reynolds to its board as non-executive directors. Sawyers formerly ran Britain’s MI6 service from 2009 until retiring last November. In total, Sawyers spent 36 years working for the British government in international affairs and security including stents in Iraq, Egypt, South Africa and the US. He was an ambassador to the UN and Egypt and was a special representative to Iraq. Reynolds began her career as an economist before spending 25 years in the...
May 19, 2015
People Briefs - February 24, 2015Anadarko Petroleum has elected international gold miner MK Resources’ managing partner Mark C. McKinley as an independent director and appointed him to the board’s audit committee. Anadarko director and former BHP Billiton CEO Charles W. “Chip” Goodyear will retire in May after three years on the board. Goodyear served in various leadership roles at BHP from 1999 to 2008.Chevron promoted finance shared services general manager Jeanette L. Ourada to corporate VP and comptroller,...
Feb 24, 2015
People Briefs - February 17, 2015Connacher Oil & Gas announced that Greg Boland has tendered his resignation as a director of the company.Gran Tierra Energy CEO Dana Coffield is being replaced by current COO Duncan Nightingale. Coffield has also resigned from the board. Nightingale has been with Gran Tierra for over five years including stints as VP of exploration and president of Gran Tierra Energy Colombia.NGP Energy Capital Management has promoted Chris G. Carter from managing director to managing...
Feb 17, 2015
Drilling Briefs - September 21, 2011- Alberta Star Development Corp. participated in drilling and completing one well (0.5 net) on the company's Landrose property located in West Central Saskatchewan. The well is located on Section 6-50-25-W3M and is the second well brought onto production this summer on the Landrose property. This is the seventh successful well Alberta Star drilled in the Landrose area, which now accounts for 50% of the company's heavy oil production. Alberta Star has interests in 840 gross acres (420 net acres)...
Sep 21, 2011