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

Univar opens new oil & gas facility in North Dakota

07/05/2014 Univar Inc., a global chemical distributor of industrial and specialty chemicals and related chemistry services, has opened a new, permanent facility in Dickinson, North Dakota, to support its oil ...

SDOGA names Martin as executive director

06/30/2014

The South Dakota Oil and Gas Association has named Adam Martin as executive director for the organization. 

Costar Bakken begins binding open season for pipeline construction

06/16/2014 Costar Bakken LLC is conducting a binding open season for a proposed gathering system in McKenzie County, North Dakota. Upon the successful completion of the open season process, Costar will i...

DW comments on North American unconventional drilling success

06/16/2014

Douglas-Westwood analysts have provided commentary on North American unconventional drilling success.

Summit updates on new Bakken shale projects

06/12/2014 Summit Midstream Partners LLC has provided a commercial update for its wholly owned operating subsidiary, Meadowlark Midstream Co. LLC, and announced the development of a new oil, gas, and water ga...

More Oil & Gas Financial Articles

Univar opens new oil & gas facility in North Dakota

Sat, Jul 5, 2014

Univar Inc., a global chemical distributor of industrial and specialty chemicals and related chemistry services, has opened a new, permanent facility in Dickinson, North Dakota, to support its oil and gas business in the Williston Basin.

SDOGA names Martin as executive director

Mon, Jun 30, 2014

The South Dakota Oil and Gas Association has named Adam Martin as executive director for the organization. 

Costar Bakken begins binding open season for pipeline construction

Mon, Jun 16, 2014

Costar Bakken LLC is conducting a binding open season for a proposed gathering system in McKenzie County, North Dakota. Upon the successful completion of the open season process, Costar will immediately begin construction of the pipeline and associated facilities.

DW comments on North American unconventional drilling success

Mon, Jun 16, 2014

Douglas-Westwood analysts have provided commentary on North American unconventional drilling success.

Summit updates on new Bakken shale projects

Thu, Jun 12, 2014

Summit Midstream Partners LLC has provided a commercial update for its wholly owned operating subsidiary, Meadowlark Midstream Co. LLC, and announced the development of a new oil, gas, and water gathering system by its new, wholly owned operating subsidiary, Tioga Midstream LLC. 

Most Popular

Oil & Gas Jobs

Search More Job Listings >>
Subscribe to OGFJ