•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    Caprock Oil closes initial tranche of private equity offering

    Caprock Oil Inc.

    Caprock Oil Inc. (OTC: ROKO.OB) has closed the initial tranche of a private equity offering of its unit securities with a group of accredited investors. Each unit comprises two shares of common stock and a warrant to purchase a third share of common stock, exercisable at $2.00 per share. In the initial tranche, a total of 250,000 units were sold to three accredited investors at an offering price of $2.00 per unit, resulting in gross proceeds to the company of $500,000. 

    The company is targeting the sale of up to 4,000,000 total units in this private equity offering, via a confidential private placement memorandum (PPM). As disclosed in the PPM, the company intends to use the proceeds of this offering to fund capital expenditures for drilling and acquisition opportunities, ongoing exploration and production operations, as well as for general corporate purposes, including an increase in working capital and the possible repayment of debt.

    Caprock is an energy company whose operations are presently focused on the exploration and production business on the onshore Gulf Coast. The company owns working interests in approximately 50 producing oil and gas wells in Texas and Louisiana with current net production of 100 barrels of oil equivalent per day. Caprock also owns non-operated working interests of 50% each in three near term drilling prospects in Alabama. 

    Most Popular

    Related Articles

    FX Energy closes new senior credit facility

    07/30/2015

    FX Energy Inc. has finalized a new five-year, up-to-€90 million senior reserve based lending facility.

    ArcLight closes sixth fund with $5.6B in commitments

    07/30/2015

    ArcLight Capital Partners LLC, a private equity firm focused on North American energy infrastructure investments, has closed its latest fund, ArcLight Energy Partners Fund VI LP.

    Shale Support receives $85M from Deutsche Bank

    07/29/2015

    Shale Support LLC, a provider of frac-sands and logistical solutions to the oil and gas proppant market, has closed a senior debt facility in the amount of $85 million with Deutsche Bank.

    Exterran Holdings withdraws notes offering and delays spin-off

    07/24/2015 Exterran Holdings Inc.’s private offering of senior notes by its subsidiaries has been withdrawn due to adverse market conditions. Consequently, the planned spin-off of its international services a...

    WPX closes public stock and senior notes offerings

    07/24/2015 WPX Energy has closed its concurrent public offerings of 30,000,000 shares of its common stock at a public offering price of $10.10 per share, 7,000,000 shares of 6.25% Series A mandatory convertib...

    Ares and Kayne Anderson merge to form Ares Kayne Management

    07/24/2015 Ares Management LP and Kayne Anderson Capital Advisors LP have entered into a definitive merger agreement to create Ares Kayne Management LP, a diversified alternative asset manager with a combined...

    More Oil & Gas Financial Articles

    FX Energy closes new senior credit facility

    Thu, Jul 30, 2015

    FX Energy Inc. has finalized a new five-year, up-to-€90 million senior reserve based lending facility.

    ArcLight closes sixth fund with $5.6B in commitments

    Thu, Jul 30, 2015

    ArcLight Capital Partners LLC, a private equity firm focused on North American energy infrastructure investments, has closed its latest fund, ArcLight Energy Partners Fund VI LP.

    Shale Support receives $85M from Deutsche Bank

    Wed, Jul 29, 2015

    Shale Support LLC, a provider of frac-sands and logistical solutions to the oil and gas proppant market, has closed a senior debt facility in the amount of $85 million with Deutsche Bank.

    Exterran Holdings withdraws notes offering and delays spin-off

    Fri, Jul 24, 2015

    Exterran Holdings Inc.’s private offering of senior notes by its subsidiaries has been withdrawn due to adverse market conditions. Consequently, the planned spin-off of its international services and global fabrication businesses into a stand-alone, publicly traded company named Exterran Corp. will be delayed.

    WPX closes public stock and senior notes offerings

    Fri, Jul 24, 2015

    WPX Energy has closed its concurrent public offerings of 30,000,000 shares of its common stock at a public offering price of $10.10 per share, 7,000,000 shares of 6.25% Series A mandatory convertible preferred stock with a purchase price and liquidation preference of $50 per share and $500 million aggregate principal amount of 7.50% senior unsecured notes due 2020 at par, and $500 million aggregate principal amount of 8.25% senior unsecured notes due 2023 at par.

    OGFJ photo of the day


    Click to view slideshow

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ