More Oil Capital News

Energy Corporation of America closes $150 MM senior notes

Denver-based Energy Corporation of America (ECA), an exploration and production company and Marcellus developer, announced May 22 that its wholly owned subsidiary entered into a financing agreement with CPPIB Credit Investments Inc. (CII), a wholly-owned subsidiary of CPP Investment Board, pursuant to which ECA and CII closed the first tranche of a $150 million private placement of senior secured notes with an overriding royalty. Through the SPV, ECA Marcellus Production LLC, ECA will continue development of its Marcellus acreage position.

Greentech Capital advises on largest Chinese investment in US company

Greentech Capital Advisors  served as financial advisor on the largest investment by a Chinese corporation into a venture-capital funded, US-based company. It advised GreatPoint Energy, Inc., a US developer of coal gasification projects, on its $1.25 billion investment from China Wanxiang Holding Co., Ltd., a major China-based industrial conglomerate. The partnership included an investment commitment of over $420 million and a project equity and credit support partnership commitment of $830 million from Wanxiang Holding to GreatPoint Energy.

Martin Midstream's revolving credit facility reaches $400M

Martin Midstream Partners LP announced May 10 that it has increased the size of its revolving credit facility to $400,000,000. This represents an increase of $25,000,000 as it has added ABN AMRO Capital USA LLC to its syndicate of lenders. The revolving credit facility is the partnership’s primary source of liquidity and matures April 15, 2016.

El Salvador plans geothermal training center with IDB grant

The National Energy Board of El Salvador will establish a geothermal training center thanks to a $2 million grant from the Inter-American Development Bank.

Avista Capital to acquire Top-Co

Private equity firm Avista Capital Partners announced today it has signed a definitive agreement to acquire Top-Co Inc., a privately-held, designer and manufacturer of specialized casing cementing products used in the drilling and completion of oil, natural gas and geothermal wells. Terms of the transaction, which is expected to close in the second quarter of 2012, were not disclosed. 

LEIF: Venture capital investment in water technology bubbling up

A report released today by the London Environmental Investment Forum reveals increasing venture capital investment activity in companies that are providing innovative water solutions to the oil and gas and mining industries.

Ex-Im to finance $2.95B in US exports for Australia LNG project

The Export-Import Bank of the United States has authorized a $2.95 billion direct loan to support US exports to the Australia Pacific liquefied natural gas (LNG) project. The transaction is Ex-Im’s second-largest single-project financing in history and is also the Bank’s first LNG project in Australia.

Environmental Drilling Solutions receives investment backing

Environmental Drilling Solutions, LLC, a provider of solids control, cuttings processing and zero discharge services, has received a growth equity investment from Element Partners and CSL Capital Management.  

Dahlman Rose announces follow-on investment

Dahlman Rose & Co., LLC announced today that its parent company has entered into a definitive agreement to sell an additional $10 million of equity to affiliates of Lovell Minnick Partners LLC, a private equity firm that specializes in the global financial services industry.

Kinder Morgan to purchase 50% interest in natural gas JV

Kinder Morgan Energy Partners, LP, announced April 25 that it has signed a definitive agreement with an investment vehicle affiliated with Kohlberg Kravis Roberts & Co. LP, whereby KMP will purchase from KKR its 50 percent interest in the joint venture that owns the Altamont gathering, processing and treating assets (Uinta Basin in Utah) and the Camino Real Gathering System (Eagle Ford shale in Texas) for $300 million in KMP common units.

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