Page 10 - NorthAmOil Week 15 2022

NorthAmOil NEWS IN BRIEF NorthAmOil

UPSTREAM certain assets from SandPoint Operating, 2023 to 2027 and, through updated advance
a subsidiary of SandPoint Resources, for formulas and other provisions, provide
Earthstone announces a total purchase price of $71mn. The oil enhanced availability with improved pricing.
and gas assets target the Eagle Ford and
No advances under the amended ABL are
closing of Bighorn Olmos formations in La Salle and McMullen currently outstanding.
David Schorlemer, the company’s chief
counties. The SandPoint transaction has
acquisition and closing of been unanimously approved by the boards of financial officer, commented: “We are very
directors of both companies and is expected
pleased with the continued support from
debt and equity financings to close in the second quarter of 2022, subject our financial partners with Barclays, along
to customary closing conditions.
with other participants in the ABL, namely,
Earthstone Energy today announced SILVERBOW RESOURCES, April 14, 2022 JPMorgan Chase, Goldman Sachs, and, a
the closing of the acquisition of assets of new entrant to our facility, Bank of America.
privately held Bighorn Permian Resources SilverBow Resources Extending the maturity to 2027 is comforting
in the Midland Basin. The company also knowing that these bulge-bracket financial
announced the closing of a $550mn private announces increased institutions are helping to support our efforts
offering of senior unsecured notes; a $280mn in providing reliable energy services to our
private placement of equity (PIPE); and an borrowing base industry. Reducing the commitments is
amendment to the company’s revolving credit also consistent with our passion for capital
facility. SilverBow Resources today announced it efficiency with the resources we employ.
EARTHSTONE ENERGY, April 14, 2022 has entered into an amendment to its senior The reduced ongoing commitment fees and
secured revolving credit facility under which interest expense along with the improved
SilverBow Resources the borrowing base has been increased availability are a win-win for ProPetro. We
from $460mn to $525mn in connection
believe this facility, along with our working
announces acquisitions with its regularly scheduled semi-annual capital and cash flow from operations, will
redetermination. The upsized borrowing
provide strong liquidity to support ProPetro
of Sundance Energy and base and strong free cash flow generation in into the future.”
the first quarter of 2022 further strengthens
PROPETRO HOLDING, April 13, 2022
SandPoint Resources SilverBow’s liquidity.
SILVERBOW RESOURCES, April 13, 2022
SilverBow Resources announced today it has NetSpring announces
entered into a definitive agreement to acquire customer go-live and
substantially all of the assets of Sundance SERVICES
Energy and certain affiliated entities for a collaboration with DCP
total purchase price of $354mn and up to ProPetro announces term
$15mn of contingent payments based on Midstream
future commodity prices. The Sundance extension of existing credit
transaction, which is expected to close in the NetSpring, a cloud provider of business
third quarter of 2022, has been unanimously facility metrics-first operational intelligence, today
approved by the boards of directors of both announced a collaboration agreement
companies. The closing of the transaction is On April 13, 2022, ProPetro Holding with DCP Midstream to develop advanced
subject to SilverBow shareholder approval and announced the extension of its existing streaming analytics solutions from IoT
satisfaction or waiver of customary closing asset-based loan facility (the amended operational data. These solutions will help
conditions. ABL) to a five-year term and a reduction of energy companies drive operational excellence
SilverBow also announced today that it has commitments from $300mn to $150mn. The across field assets by uncovering new and
entered into a definitive agreement to acquire amended ABL will extend the maturity from untapped insights.
Founded in late 2019 to revolutionise data
analytics in the enterprise, NetSpring’s mission
is to empower every enterprise to reach their
peak operational agility with broader, deeper,
and more timely intelligence from data. The
NetSpring Operational Intelligence platform
enables customers to efficiently build complex
analytics using time series and traditional
business data. NetSpring’s vision is to be the
unified command center for all operational
insights from data.
The NetSpring platform allows DCP
Midstream to easily customise complex
business logic into their sensor-level data
and alerts and provides collaborative, 24x7
visibility to a variety of insights via the
web or on a secure mobile app. The first

P10 www. NEWSBASE .com Week 15 14•April•2022