•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    Voyager to use new credit facility to pay debt, accelerate Williston Basin activities

    Billings, MT-based Voyager Oil & Gas (AMEX: VOG) has entered into a new $150 million credit facility with Macquarie Bank Ltd. The facility will be used to retire existing debt and allow Voyager to accelerate development and production growth in the Williston Basin for the purpose of Bakken and Three Forks well development, production growth and acquisition in the Williston Basin.

    The credit facility is set up as a two-tranche loan to be completely secured by the company’s assets. The first tranche (Tranche A) has an initial $15 million borrowing base with a $100 million face amount. The second tranche (Tranche B) may provide a maximum of $50 million for development/acquisition expenses.

    Tranche A holds a current interest rate of 3.25% above LIBOR; Tranche B’s interest rate is 7.5% plus LIBOR.

    Analysts at Global Hunter Securities say the deal “demonstrates the inherent value” of Voyager’s growing acreage position targeting the Bakken Shale, and expects the stock to “react positively” to the news.

    Related Articles

    Dakota Gold to develop Bakken crude oil terminal

    08/26/2014 Dakota Gold Transfer–Plaza LLC plans to develop a crude oil transload facility in Mountrail County, North Dakota. Strategically located on a 350-acre site in the eastern section of the prolific Bak...

    Production from Bakken, Eagle Ford rose 3.4% in July

    08/25/2014 Oil production from shale formations in North Dakota and Texas increased by more than 86,000 barrels per day (b/d) or 3.4% in July, according to Bentek Energy, an analytics and forecasting unit of ...

    Intervale Capital acquires Recapture Solutions

    08/19/2014

    Intervale Capital has acquired Recapture Solutions LLC from Triten Corp. 

    Dakota Plains, Hiland to link Bakken gathering pipeline to terminal

    08/19/2014 Dakota Plains Holdings Inc. and Hiland Crude LLC, a wholly owned subsidiary of Hiland Partners LP, jointly report the execution of an interconnection agreement that links Dakota Plains’ Pioneer Rai...

    Liberty Resources II signs Bakken asset transaction agreement

    08/05/2014 Liberty Resources II LLC reports the signing of a definitive agreement with Emerald Oil Inc. to exchange a portion of its holdings in North Dakota's Williston Basin for additional acreage in the Wi...

    More Oil & Gas Financial Articles

    Dakota Gold to develop Bakken crude oil terminal

    Tue, Aug 26, 2014

    Dakota Gold Transfer–Plaza LLC plans to develop a crude oil transload facility in Mountrail County, North Dakota. Strategically located on a 350-acre site in the eastern section of the prolific Bakken and Three Forks shale oil producing areas, the Plaza Terminal will provide refiners, marketers and producers with new options for reaching multiple markets across the US and Canada via rail and pipeline.

    Production from Bakken, Eagle Ford rose 3.4% in July

    Mon, Aug 25, 2014

    Oil production from shale formations in North Dakota and Texas increased by more than 86,000 barrels per day (b/d) or 3.4% in July, according to Bentek Energy, an analytics and forecasting unit of Platts.

    Intervale Capital acquires Recapture Solutions

    Tue, Aug 19, 2014

    Intervale Capital has acquired Recapture Solutions LLC from Triten Corp. 

    Dakota Plains, Hiland to link Bakken gathering pipeline to terminal

    Tue, Aug 19, 2014

    Dakota Plains Holdings Inc. and Hiland Crude LLC, a wholly owned subsidiary of Hiland Partners LP, jointly report the execution of an interconnection agreement that links Dakota Plains’ Pioneer Rail Terminal in New Town, North Dakota, with Hiland’s Market Center Gathering System crude oil pipeline network.

    Liberty Resources II signs Bakken asset transaction agreement

    Tue, Aug 5, 2014

    Liberty Resources II LLC reports the signing of a definitive agreement with Emerald Oil Inc. to exchange a portion of its holdings in North Dakota's Williston Basin for additional acreage in the Williston Basin and $78.4 million in cash.

    Most Popular

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ