Deals this week: Extraction Oil & Gas, ADS Services, Alimentation Couche-Tard


Extraction Oil & Gas has announced the pricing and upsizing of its planned private placement of 7.3% senior unsecured notes due 2024. The placement has been upsized from $350m to $400m.

The proceeds from the placement are intended to be used by the company to partially fund its 2017 capital expenditures and for general corporate purposes.

The placement is scheduled for completion on 1 August.

ADS Services has secured an equity commitment from Black Bay Energy Capital. The investment enables the company to expand its product portfolio and operations in the Delaware Basin, Texas, US.

Fishman Haygood was the legal advisor to Black Bay Energy in the transaction.

Alimentation Couche-Tard intends to raise $1bn through the issue of 2.7% senior unsecured notes, due 2022, in a private placement.

"ADS Services has secured an equity commitment from Black Bay Energy Capital. The investment enables the company to expand its product portfolio and operations in the Delaware Basin, Texas, US."

The proceeds from the placement are intended to be used by the company to repay its outstanding debt under senior credit facilities.

The placement is scheduled for completion on 26 July.

PTT Public Company (PTT) plans to establish a joint venture with Petroliam Nasional Berhad (Petronas) to develop a new natural gas liquefaction (NGL) facility in Malaysia.

PTT has created a new company named PTT Global LNG to invest in the project. Construction on the new NGL facility is scheduled to begin in the third quarter of this year.

Vanguard Natural Resources intends to raise $255.75m through the issue of shares in a rights offering under a plan of reorganisation. The effective date of the plan will be 1 August.

Following the effective date, Vanguard Natural Resources is anticipated to be to be reorganised as a Delaware-based corporation named Vanguard Natural Resources.