Salamander Energy PLC (LSE) Arranged and managed $200 million loan from a syndicate of international banks for the development of new oil and gas fields offshore Thailand and Indonesia. * Assisted in $200 million private equity raise. * Negotiated acquisitions of interests in Indonesian oilfields from regional operators.
Apache Corporation (NYSE) Acquired $385 million of oil and gas assets from Occidental Petroleum Corporation (NYSE). Identified target assets, contacted respective parties and initiated discussions leading to private negotiated transaction.
3Tec Energy, Inc. (NASDAQ) Formulated and completed a $72 million follow-on public stock offering, an IPO for the previously closely held company. Devised timetable and pricing rationale, and sponsored the company with brokerage firms and institutional money managers.
Edge Petroleum Corporation (NASDAQ) Advised on $46 million IPO. Developed pricing rationale and marketing themes, and advised board/management on equity market conditions. Sponsored company, management and offering with equity sales department and institutional portfolio managers.
Rentech, Inc. (AMEX) Structured and managed a private placement financing consisting of common stock and warrants for gas-to-liquids technology research and ongoing commercialization efforts.
MSR Exploration, Ltd. /Quicksilver Resources, Inc. Advised on $112 million merger of affiliated companies. Prepared analysis of relative values and fair stock exchange ratio, and financial opinion of the proposed merger.
Atlas Energy Group, Inc. Managed company’s sale to Resource America, Inc. (NASDAQ) for $63 million. Developed acquisition market value and marketing strategies.
Texas Meridian Resources Corporation (now Meridian Resource Corporation—NYSE) Led a $38 million IPO. Developed offering structure and marketing collateral, and sold through to institutional investors.
Granisko Resources, Inc. (Calgary-based independent E&P company) Managed a $35 million private placement of mezzanine securities (senior secured amortizing term notes, convertible debentures and preferred stock) to develop new gas fields in Alberta. Matched issue type, amount and terms to funding needs and cash flow profile of development projects. Created offering structure and marketing documentation, and negotiated final terms of investment.
Tatham Offshore, Inc. Advised on a $50 million IPO to participate in flex-trend play in the Gulf of Mexico. Devised offering structure, formed selling group of investment banks and sold offering to institutional investor market.
PetroCanada Engaged in the valuation and sale of interests in Westcoast Energy, a western Canadian natural gas gathering and transmission company. Led successful marketing to a syndicate of Canadian and US institutions.
TransCanada Pipelines Advised on the disposition of Angus Chemical, a US chemical company. Developed market value and disposition strategy, and led marketing initiatives to select US buyers to include Dow Chemical, the eventual buyer.
Chinese Petroleum Corporation (national oil company of Taiwan) Advised on the proposed purchase of Union Texas Petroleum Holdings, Inc. (NYSE). Developed detailed acquisition and market value ranges for each segment (US, E&P, North Sea E&P, East Kalimantan, Indonesia (Bontang) LNG interests) reflecting appropriate tax regimes and corporate charges. Aggregate net asset value, comparable trading and acquisition value analyses provided multiple benchmarks for acquisition offer.
Ocean Drilling and Exploration Company Consulted on the feasibility of several proposed corporate restructuring plans to include the IPO of contract drilling business and the rollup of E&P business into Murphy Oil Corporation (NYSE). Analyzed projected asset values, earnings, cash flow, trading ranges and accretion/dilution impacts to current shareholders and prospective shareholders of E&P and contract drilling.
Gruss & Company Managed the divestiture of oil and gas assets in the Permian Basin and Rocky Mountain region. Developed fair acquisition market values and geographic packaging, marketed properties to industry and institutional buyers, and partnered in negotiating pricing and terms with Graham Royalty, Ltd and Meridian Oil Inc.
British Petroleum (NYSE) Advised on the potential acquisition of Chevron Corporation. Evaluated fair acquisition market values versus total market capitalization for US and international operations. Assessed effectiveness of anti-takeover measures and receptiveness of potential offer by Board Directors and major institutional shareholders. Developed financing plan including post-acquisition divestitures.