Deals this week: Freeport-McMoRan, Viper Energy, Clayton Williams Energy

Freeport-McMoRan Oil & Gas LLC (FM O&G), a wholly-owned subsidiary of Freeport-McMoRan Inc. has disposed its Haynesville shale gas assets in north Louisiana, US.

The $87m deal involves the transfer of non-operated working interest and 8.6% working interest in more than 1,450 producing wells, as well as lease agreements of 72,000 net acres.

Viper Energy Partners LP has announced pricing of its $112m public offering of seven million shares at $16 each.

The underwriters to the offering have a 30-day over-allotment option to buy up to additional 1.05 million shares, while Diamondback Energy, Inc. has agreed to purchase two million units.

Credit Suisse Securities (USA), Barclays Capital and Wells Fargo Securities are the joint book-running managers, while Akin Gump Strauss Hauer & Feld is the legal advisor to Viper for the issue, scheduled for closure on 1 August 2016.

Viper intends to use the fund raised from the offering in order to reduce outstanding liabilities under its revolving credit facility and to fund the recently announced and pending acquisition.

Clayton Williams Energy, Inc. has signed an agreement to dispose its 5,051,100 shares at an approximate price of $29.7 per share to funds managed by Ares Management, L.P. The deal implies a net value of $150m.

Goldman, Sachs & Co. is the financial advisor and Potter Anderson & Corroon LLP is the legal advisor to Clayton for the transaction, which is scheduled for completion in the third quarter of 2016.

The amount raised from the transaction is intended to be used by Clayton to perform developmental drilling in the southern Delaware Basin, and for debt reduction and capital outlays.

US-based oil and gas company LOGOS Resources, LLC has received a commitment from ArcLight Capital Partners, LLC for an equity investment of $150m.

The investment will allow LOGOS to expand its footprint and pursue new asset acquisition opportunities.

TORC Oil & Gas Ltd. has agreed with Zargon Oil & Gas Ltd. to acquire light oil assets located in southeast Saskatchewan, Canada.

The deal will involve a cash consideration of $68.15m, which will be funded by TORC Oil through its credit facility.

Scheduled for completion in early September 2016, the transaction will extend TORC Oil’s portfolio of oil and gas assets in Saskatchewan.