PGS Raises Funds Through Private Placement
Norwegian seismic explorer Petroleum Geo-Services ASA announced Wednesday that it has raised approximately $225 million through a placement of 85,500,000 new shares.
The proceeds from the private placement will be used primarily to finance an inter-conditional exchange offer for the company's existing 7.375 percent Senior Notes due December 2018. Completion of the placement and issuance of the new shares is subject to the fulfilment of the conditions for the transaction, including approval by an extraordinary general meeting of the company, scheduled to be held Dec. 14.
Following the completion of the placement, and subject to market conditions, PGS has pledged to carry out a subsequent offering of up to 13,500,000 new shares for gross proceeds of approximately $35 million.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Russian Oil Producers Start Using Tankers the World Did Not Want
- USA Gasoline Price Hits Another Record
- Westwood: Offshore Rig Utilization Way Higher Than Initially Thought
- Bakken Gas Production Up In 2021 As Oil Drops Once Again
- USA to Ease Sanctions on Venezuela
- McDermott COO Joins Tellurian
- Helix Increases Presence In Gulf Of Mexico Decom Market
- Eni Begins Process of Opening Gazprom Bank Current Accounts
- BSEE Concludes Shell Vito Platform Pre-Production Inspection
- McDermott Pens ADNOC Fujairah LNG FEED Deal
- Ban on Excessive Gasoline Prices Heading for Vote
- Russian Oil Producers Start Using Tankers the World Did Not Want
- This Is Where the Oil Price Would Be Without the War
- The US Cannot Make Enough Fuel
- Sabic Sees Profit Hit by Costs
- UK Activists Stop Russian Tanker With $36.5M Of Diesel
- Henry Hub Price Expected to Average $8.69 in 3Q
- USA Lease Sale Cancellation Leaves Industry in Limbo
- Europe Looks To Africa For More Gas As E&P Reconsiders Projects
- No Offshore Oil Auctions Devastating To Americans, NOIA Says
- Ban on Excessive Gasoline Prices Heading for Vote
- Russian Oil Producers Start Using Tankers the World Did Not Want
- Oil and Gas Discovery Confirmed at Hamlet
- Be Prepared to Pay More at the Pump from June
- Top Headlines: Be Prepared to Pay More at the Pump from June
- This Is Where the Oil Price Would Be Without the War
- Gas Prices Could Rocket in the Near Term
- Exxon Does It Again - Three More Discoveries Offshore Guyana
- Top Headlines: Gas Prices Could Rocket in Near Term and More
- Europe Braces for Diesel Deluge