Page 11 - NorthAmOil Week 09 2021

NorthAmOil NEWS IN BRIEF NorthAmOil

UPSTREAM The offeror will pay for such shares as soon as at the special meeting held on February
possible and in any event on or before March 25, 2021. In connection with the merger,
Waterous Energy Fund 4, 2021. Tengasco has changed its name to Riley
Exploration Permian.
WATEROUS ENERGY FUND, March 02, 2021
announces successful Diamondback Energy 1, the combined company will commence
It is expected that on Monday, March
take-over bid for Osum Oil announces closing of trading under the symbol REPX on the NYSE
American. Concurrently with the Closing,
Sands, commencement of acquisition from Guidon Tengasco conducted a 1-for-12 reverse stock
split, resulting in a reduction of outstanding
mandatory 10-day tender Operating shares of the Combined Company to
approximately 17.8mn shares of common
extension period, and Diamondback Energy today announced that stock (after giving effect to both the reverse
stock split and the merger).
voluntary resignation of it has completed its previously announced TENGASCO, February 26, 2021
acquisition of leasehold interests and related
Osum directors and officers oil and gas assets from Guidon Operating, IOG Capital announces
a portfolio company of Blackstone Energy
Waterous Energy Fund (WEF) and its Partners. Aggregate consideration consisted acquisition and closing of
subsidiary WEF Osum Acquisition are of $375mn in cash and 10.68mn shares of the
pleased to announce that each of the Company’s common stock after accounting Ohio Utica assets
conditions to the offer dated November 4, for post-effective date adjustments. As a
2020, as amended, to acquire up to 57,000,000 result of the acquisition, Diamondback IOG Capital reported today that, on March
common shares of Osum Oil Sands at a price adds approximately 32,500 net acres in the 2, 2021, IOG Resources, one of its affiliated
of CAD3.00 per share have been satisfied, Northern Midland Basin, primarily held by companies, closed on the acquisition of
including the condition prescribed by production allowing for capital efficient full certain producing properties from affiliates
applicable securities laws that more than 50% field development. of Sequel Energy Group for an undisclosed
of the Osum shares not owned by WEF be DIAMONDBACK ENERGY, February 26, 2021 amount. The assets consist of non-operated
tendered to the offer. working interests in 77 producing horizontal
A total of 45,747,068 Osum shares were Tengasco completes merger wells operated by Southwestern Energy
deposited and not withdrawn at the initial Company and Ascent Resources with net
expiry time under the Offer, representing with Riley Exploration – production of approximately 75 mmcfe/d
approximately 34% of the issued and (85% gas) as of the January 1, 2021 effective
outstanding Osum shares. Permian date.
The offeror has taken up proportionately IOG CAPITAL, March 03, 2021
a total of 34,697,358 Osum shares tendered Tengasco announced the successful
to the offer, which is the maximum number completion (the “Closing”) of its merger with
of shares the offeror is permitted to take up Riley Exploration – Permian. The merger was MIDSTREAM
at this time under applicable securities laws. previously approved by Tengasco stockholders
Bridger Pipeline and
Seahorse Pipeline

announce open season for

transportation capacity

from Williston Basin

and Guernsey, Wyo., to
Midcontinent and Texas

destinations

Bridger Pipeline and Seahorse Pipeline,
a subsidiary of Tallgrass Energy, today
announced an open season for joint tariff
transportation service from the Williston
Basin and local tariff transportation service
from Guernsey, Wyo., to Midcontinent and
Texas destinations. Crude oil transportation

Week 09 04•March•2021 www. NEWSBASE .com P11