Deals this week: Enerflex, Parsley Energy, Saturn Minerals

Enerflex Ltd intends to raise approximately $77m through the issuance of 7,785,000 shares priced at $9.93 each.

Underwriters including Scotiabank (The Bank of Nova Scotia) and TD Securities Inc have a 30-day option to buy up to 1,167,750 shares.

The offering is expected to be completed on or before 7 September 2016 and the amount raised is thereby intended to be used to fund the rest of the 2016 and 2017 capital expenditure programme, possible acquisitions, general working capital and corporate functions, as well as for reducing the outstanding liabilities.

Parsley Energy, LLC, through its wholly-owned subsidiary Parsley Finance Corp, has announced pricing of private placement of 6.25% senior unsecured notes due in 2024.

The placement will raise an amount of $200m, which is intended to be used to fund a portion of its capital programme and general corporate functions, as well as to finance the acquisition of oil and gas interests in Glasscock County, Texas, US.

The private placement is scheduled for closure on 19 August 2016.

Saturn Minerals Inc has completed the acquisition of four oil and gas exploration permits in Saskatchewan, Canada.

The permits occupy 41,000 hectares of area between the towns of Humboldt, Kamsack and Hudson Bay. The purchase allows Saturn Minerals to expand its oil and gas asset portfolio in Saskatchewan.

Baltimore Gas and Electric Company has announced pricing of $500m public offering of senior notes. Priced at 99.908% of the principal amount, the notes will return 3.505% upon maturity on 15 August 2046.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, MUFG Securities Americas Inc, Wells Fargo Securities, LLC, PNC Capital Markets LLC, SMBC Nikko Securities America, Inc are the joint book-running managers, while McKennon Shelton & Henn LLP is the legal advisor to the company for the public issue.

The amount raised from the issue is intended to be used by Baltimore Gas and Electric to fund general corporate functions.

Concho Resources Inc has agreed to spend $1.62bn for the acquisition of certain oil and gas assets in the Midland Basin, US, from Reliance Energy, Inc.

The purchase consideration will be funded by Concho Resources through a combination of cash and equity.

The assets cover approximately 40,000 net acres and hold proved reserves of approximately 43 million barrels of oil equivalent.

Evercore Partners Inc is the financial advisor and Vinson & Elkins L.L.P. is the legal advisor to Concho Resources for the transaction, which is anticipated to be completed by October 2016.