Lime Rock Resources II Closes at $410 Million
Lime Rock, a private equity firm focusing on the global energy sector, today announces the closing of Lime Rock Resources II with $410 million in total capital commitments. Like the first Lime Rock Resources fund, Lime Rock Resources II will seek to acquire, directly operate, and improve lower-risk oil and gas properties in the United States. Together with the Lime Rock Partners funds, which invest...
RedHawk Energy Acquires Xxtreme Group for $66.0 Million
RedHawk Energy Corporation announced that it has acquired 100% of the membership interests of Texas-based Xxtreme Pipe Services, LLC, Xxtreme Pipe Storage, LLC, Xxtreme Tubular Processors, LLC and Wolf Pack Rentals, L.L.C. (collectively, the “Xxtreme Group”) for $66.0 million in cash, preferred stock and assumed debt. The purchase price is subject to certain post-closing adjustments. Headquartered...
Universal Holdings Closes Acquisition and Enters Domestic North American Oil and Gas Market
Universal Holdings announced that on September 21, 2009, the company purchased 100% of the outstanding membership units of Coronado Acquisitions, LLC. In connection with this acquisition, Universal has satisfied a promissory note issued by Coronado Acquisitions, LLC in the principal amount of $3,250,000 by issuing 2,100,000 restricted shares of its common stock to the Noteholders. Coronado is a development...
RAK Petroleum Announces Eagle Energy Acquisition
RAK Petroleum PCL announced that it has purchased Eagle Energy Limited, a wholly-owned subsidiary of UK-based Heritage Oil Limited, for cash consideration of $28 million. Eagle Energy holds a 10 percent interest in Block 8, Sultanate of Oman. The acquisition brings RAK Petroleum’s total shareholding in the block, which the company operates, to 50 percent. RAK Petroleum announced in February 2009...
Peabody Energy Enters Sales Agreement for Non-Strategic Interest in Australia Mine
Peabody Energy announced it has entered into a sales agreement for its 62.5 percent interest in the Baralaba Mine in Australia with Cockatoo Coal Limited. Peabody is receiving approximately US$33.6 million [A$52.5 million] for its interest in Baralaba, which has approximately 1.5 million tons of remaining reserves and produced approximately 330,000 tons of thermal and PCI coals in 2007. Baralaba’s...
Laredo Petroleum Announces Second Round of Equity Financing of Up to $300 Million From Warburg Pincus
Laredo Petroleum, a rapidly growing independent oil and gas company with headquarters in Tulsa, Oklahoma, today announced that it has closed a second round of equity financing of up to $300 million with Warburg Pincus LLC, the global private equity firm, along with Laredo Petroleum’s senior management team. Funding of this line of equity will be provided as needed to support Laredo’s continued...
G & S Minerals Announces Management Changes
G & S Minerals, Inc. dba Gold & Silver Minerals, a mining company focused on developing high-quality and low-risk mineral resource and energy prospects, today announced several management changes made in connection with the scheduled closing of the milestone Strategic Cross Investment and Gold Field Development Agreement with Mayan Gold, Inc. With the Company’s appreciation for their...
Bancroft to Diversify Into Energy Market With Planned Acquisition of Oil and Gas Projects
Bancroft Uranium Inc. announced its plans to move forward with a strategic portfolio diversification including the planned acquisition of new and exciting opportunities within conventional sectors of the energy market. Further to this aim, Bancroft is currently finalizing terms towards the acquisition of several Canadian oil and gas plays that Management finds of significant interest. The projects...
Laredo Petroleum Completes $185 Million Acquisition of Strategic Assets
Laredo Petroleum, Inc., a privately-held oil and gas exploration and production company, announced today that it recently completed its acquisition of $185 million of strategic assets located in the Verden area of south central Oklahoma from Linn Energy. The transaction encompasses a total of 50,000 net acres and proven reserves of 45 billion cubic feet of natural gas equivalent. Laredo Petroleum,...
New ‘Voyager’ Company to Explore Natural Gas Midstream Opportunities
Tenaska Capital Management, LLC (TCM), has announced the formation of Voyager Midstream, LLC, a Houston-based company dedicated to developing, acquiring and managing midstream natural gas industry assets in a market where growth opportunities are increasing. Voyager Midstream, staffed by a team of natural gas industry veterans, will focus nationwide on investments in the broad midstream sector of the...
Latest Mining News
Philex Gold Receives Interim Order for Transaction With Philex Mining Corporation
Philex Gold Inc. announced that it has obtained an interim order from the Ontario Superior...
American Mining Corporation Signs LOI to Form Production Joint Venture on Terra Gold Project, Alaska
American Mining Corporation announce that it has signed a binding letter of intent to enter...
Subscribe to Mining Top News Newsletter
Sign up to receive daily email updates of Mining Top News headlines. Enter your email address below:
Mining Top News - Exploration and Mining Industry News
