•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    TexCom updates on acquisitions

    TexCom Inc.

    TexCom Inc. (OTC Pink: TEXC), an environmental services company serving the oil and gas industry, has signed agreements to acquire the assets of two saltwater disposal wells – the Peak Water Systems SWD #1 and the Bennett SWD #1, both located in Van Buren County, Arkansas.

    The purchase price for the assets will be $20.29 million and will include the assumption or refinancing of approximately $7.07 million of debt. The remaining purchase price will consist of $2.65 million in cash and $10.58 million in shares of common stock. The common stock will be issued at $0.244 per share, which is the average closing price on the OTC Pink for the 60 day period prior to execution of the agreements.

    These assets are expected to add $5.5 million of revenues per year and earnings before interest, income taxes, depreciation and amortization of $3.7 million per year. The acquisitions are expected to close around June 30, following the company's annual shareholders meeting on June 26.

    Green Bank of Houston, Texas, is providing debt financing to complete these acquisitions. WoodRock & Co. has acted as financial advisor to TexCom on these transactions.

     

     

     

    Most Popular

    Related Articles

    Tullow secures additional $450M of capital under existing credit facilities

    03/30/2015

    Tullow Oil plc has provided an update on its financing and banking arrangements.

    Whiting completes offerings of senior notes and common stock

    03/30/2015

    Whiting Petroleum Corp. has received approximately $3 billion in aggregate net proceeds from its recent offerings of senior notes and common stock.

    Breitburn and EIG have agreements for $1B strategic investment

    03/30/2015 Breitburn Energy Partners LP and EIG Global Energy Partners have definitive agreements whereby Breitburn will sell $350 million of perpetual convertible preferred units and $650 million of senior s...

    CONSOL Energy prices $500M of senior notes

    03/27/2015

    CONSOL Energy Inc. has priced $500 million of its 8.000% senior notes due 2023 at a price to the public of 98.552% of their face value. The offering is expected to close on March 30.

    BlackRock, First Reserve to acquire equity stakes in Pemex pipeline projects

    03/27/2015 BlackRock and First Reserve have entered into a definitive agreement with PMI, a wholly owned subsidiary of Petróleos Mexicanos (Pemex), to acquire approximately 45% equity interest in two natural ...

    LINN secures $1B equity commitment from Quantum

    03/26/2015 LINN Energy LLC has signed a nonbinding letter of intent with private capital investor Quantum Energy Partners to fund selected future oil and natural gas acquisitions and development on those acqu...

    More Oil & Gas Financial Articles

    Tullow secures additional $450M of capital under existing credit facilities

    Mon, Mar 30, 2015

    Tullow Oil plc has provided an update on its financing and banking arrangements.

    Whiting completes offerings of senior notes and common stock

    Mon, Mar 30, 2015

    Whiting Petroleum Corp. has received approximately $3 billion in aggregate net proceeds from its recent offerings of senior notes and common stock.

    Breitburn and EIG have agreements for $1B strategic investment

    Mon, Mar 30, 2015

    Breitburn Energy Partners LP and EIG Global Energy Partners have definitive agreements whereby Breitburn will sell $350 million of perpetual convertible preferred units and $650 million of senior secured notes in simultaneous private offerings to investment funds managed by EIG, and other purchasers.

    CONSOL Energy prices $500M of senior notes

    Fri, Mar 27, 2015

    CONSOL Energy Inc. has priced $500 million of its 8.000% senior notes due 2023 at a price to the public of 98.552% of their face value. The offering is expected to close on March 30.

    BlackRock, First Reserve to acquire equity stakes in Pemex pipeline projects

    Fri, Mar 27, 2015

    BlackRock and First Reserve have entered into a definitive agreement with PMI, a wholly owned subsidiary of Petróleos Mexicanos (Pemex), to acquire approximately 45% equity interest in two natural gas pipelines, Los Ramones Phase II North and Los Ramones Phase II South.

    OGFJ photo of the day


    Click to view slideshow

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ