Deals this week: President Energy, Penn Virginia Corporation, Peyto Exploration & Development Corporation

UK-based oil and gas company President Energy has sold its 25% stake in the East White Lake field to Alpha Imperial for $0.53m.

Located in Vermillion Parish, Louisiana, US, the East White Lake field has estimated reserves of 154 million barrels of oil equivalent (mmboe).

The transaction will enable President Energy to reduce its debt by $0.53m.

Penn Virginia Corporation has signed a definitive agreement with Hunt Oil to acquire the latter’s Eagle Ford Shale oil and gas assets for $86m.

The transaction will increase Penn Virginia’s net operated acreage in Eagle Ford from 93% to 99% and strengthen its leasehold position in Texas.

Both entities involved in the transaction are oil and gas companies based in the US.

Canadian natural gas exploration and production company Peyto Exploration & Development Corporation completed the private placement of senior unsecured notes for C$100m ($79.47m).

The notes carry an interest rate of 3.95% and are due 2 January 2028.

Peyto will use the proceeds to repay its bank debt.

Viceroy Petroleum has signed an agreement to acquire certain oil and gas assets, including Allen Dome and the Blue Ridge fields, located in the US from Global Energy Ventures for A$0.45m ($0.34m).

The transaction will enable Viceroy Petroleum to expand its oil and gas assets in the US.

Viceroy Petroleum is a US-based oil and gas company, whereas Global Energy Ventures is an Australian integrated compressed natural gas solutions provider.

GOMG Holdings has divested its minority stake in an oil refinery located in Ballsh, Albania, to Delvina Investment Partners.

GOMG Holdings is an energy company, while Delvina Investment Partners is an investment company.