Page 11 - NorthAmOil Annual Review 2021

NorthAmOil NEWS IN BRIEF NorthAmOil

UPSTREAM with US$2,000,000 to be borrowed pursuant oil and gas royalties due to its volatile nature,
to a committed increase to the Company’s increasing regulations, and possible future
Southwestern Energy credit facility borrowing base if certain other unfavourable capital gains tax legislation,”
conditions are satisfied, as set out in more
noted Jace Graham, RPR CEO and Founder.
completes acquisition of detail in the Company’s rights offering circular “It made sense for their estate planning to
sell and reinvest the proceeds into a more
dated November 23, 2021.
GEP Haynesville common shares under basic subscription financially stable asset.”
The company issued a total of 32,017,670
For over 25 years RRC has operated in
Southwestern Energy (SWN) today privileges and a total of 87,647,375 common Pennsylvania covering nearly amn net mineral
announced that it has closed the acquisition shares under additional subscription acres, the majority of which comprises stacked
of GEP Haynesville. The transaction builds privileges in the Offering. In addition, pay potential for the Upper Devonian, Utica,
further scale in the Haynesville, deepens the 3,571,428 common shares will be issued to and Marcellus shale formations. In addition,
company’s inventory, improves key financial Polygon Global Partners pursuant to the with its decade-long commitment to a
metrics, including margins, returns and per- company’s stand-by commitment agreement large-scale water recycling programme, RRC
share ratios, fortifies SWN’s financial strength with Polygon, which will be in addition to the became the industry’s first company to reuse
and enhances the company’s leading presence common shares acquired by Polygon under nearly 100% of its Pennsylvania produced
in the two premier natural gas basins in the its basic subscription privilege and additional water.
US. subscription privilege. At RPR, the mineral sale evaluation
In December, the company completed The total number of issued and process includes an in-depth reservoir
an offering of $1.15bn of 4.75% senior notes outstanding common shares of the company analysis completed by a reputable third party
due 2032 and a $550mn institutional term upon completion of the offering will be geological engineering firm with expertise in
loan to fund the cash consideration for the 356,159,098. all US basins.
acquisition and tender for $300mn of its The company will disclose additional “We share this data so mineral owners
2025 senior notes. The company expects to information regarding the number of can make an educated decision on what their
issue 2022 guidance inclusive of the acquired common shares acquired in the offering assets are worth,” said Graham. “It’s our goal
properties in conjunction with its fourth by new and existing insiders once that to demystify the process and guide owners
quarter earnings release. information is available. step-by-step through our evaluation and
SOUTHWESTERN ENERGY, December 31, 2021 KOLIBRI GLOBAL ENERGY, January 04, 2021 acquisition process.”
Common situations why RPR clients
Kolibri Global Energy Rising Phoenix Royalties choose to divest some or all of their royalty
assets include estate planning, optimising
announces the successful acquires another Range tax benefits, funding retirement, immediate
financial need, estate liquidation, and
completion of the rights Resources Marcellus Basin investment portfolio diversification.
RISING PHOENIX ROYALTIES, January 06, 2022
offering raising CAD8.6mn mineral acquisition
Kolibri Global Energy is pleased to announce Rising Phoenix Royalties (RPR) reveals MIDSTREAM
the successful completion of its rights offering. another natural gas royalty acquisition
The offering, which expired on December 29, spanning 98 net royalty acres in the Marcellus Enbridge completes sale
2021, raised gross proceeds of approximately Shale, Washington County, PA. Range
CAD8.6mn. Resources Corporation, (RRC), a leading US of its financial interest in
The company intends to drill and complete independent natural gas and NGL producer, is
two wells in its Tishomingo Field, Oklahoma, the well-site operator. Noverco
using proceeds from the Offering together “Our clients chose to divest out of their
Enbridge today announced the closing of
the agreement through which a subsidiary of
Enbridge has sold its 38.9% non-operating
minority ownership interest in Noverco to
Trencap for CAD1.14bn in cash, previously
announced on June 7, 2021.
The sale of our financial interest in
Noverco will further strengthen our financial
flexibility. Proceeds from the sale will be
initially used to repay short term borrowings
and support Enbridge’s secured capital
programme.
Trencap is a consortium led by Caisse de
dépôt et placement du Québec (CDPQ).
ENBRIDGE, December 30, 2021

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