Deals this week: Rice Energy, Sunoco Logistics, Teekay LNG

Rice Energy has announced the pricing of $1.02 billion public offering involving the issue of 40 million shares, at a price of $25.5 per share. The underwriters have been granted a 30-day option to buy up to an additional six million shares.

Barclays Capital and Wells Fargo Securities are the book-running managers, while Latham & Watkins is the legal advisor to Rice Energy for the issue, which is scheduled for completion on 30 September.

The amount raised from the issue is intended to be used by the company to partly fund the acquisition of Vantage Energy and for general corporate purposes.

Sunoco Logistics Partners has agreed to acquire integrated crude oil facilities in west Texas, US, from Vitol. The deal implies a purchase consideration of $760 million plus working capital.

It will also involve the transfer of assets and operations including a crude oil terminal in Midland and a crude oil gathering and mainline pipeline system in the Midland Basin and Vitol’s crude oil inventories, as well as a 50% stake in SunVit Pipeline.

Scheduled for completion by the fourth quarter of 2016, the deal will help Sunoco Logistics to affirm its growing crude platform in the Permian Basin.

Teekay LNG Partners has announced the pricing of five million 9% Series A cumulative redeemable perpetual preferred units to raise $125 million through a public offering. The underwriters have a 30-day option to buy up to 0.75 million units.

The company has retained Morgan Stanley & Co, UBS Securities, and Stifel, Nicolaus & Company, Incorporated as joint book-running managers, and Watson Farley & Williams as legal advisor for the issue.

The amount raised from the offering is intended to be used by Teekay LNG for general partnership purposes.

The public issue is scheduled for closure on 5 October.

Energy Hunter Resources has agreed to acquire mineral rights in approximately 320 gross acres in Howard County of Midland Basin, Texas, US.

The acreage holds Lower Spraberry and Wolfcamp formations and enables the drilling of up to nine wells.

Scheduled for completion in November this year, the deal will allow Energy Hunter to expand its acreage base in Midland Basin, Texas, US.

Rice Midstream Partners (RMP) has agreed to spend $600 million for the acquisition of midstream assets located in Greene County, Pennsylvania, US, from Rice Energy.

Under the agreement, RMP will fund the deal through a combination of borrowings under its revolving credit facility and equity and debt financings, or through the issuance of common shares to Rice Energy.

The assets constitute 30mi (48.28km) of dry gas gathering pipeline, as well as compression equipment and systems.

RMP has appointed Simmons & Company International as financial advisor and Akin Gump Strauss Hauer & Feld as legal advisor for the transaction.

The deal is scheduled for completion in the fourth quarter of 2016.