Deals this week: SM Energy, Antero Resources, Newfield Exploration, Continental Resources

SM Energy Company has agreed to dispose two separate packages of non-core oil and gas assets in New Mexico, North Dakota and Montana in the US, for $172.5m.

The assets extend across an area of approximately 79,000 acres and hold proven reserves of approximately 9.5Mmboe as of last December.

RBC Richardson Barr and UBS Securities are the financial advisors to SM Energy for the sale of the assets.

Scheduled for closure in the third quarter of this year, the transaction will allow SM Energy to reduce its outstanding liabilities and fund general corporate functions.

Antero Resources Corporation has sgined a pact with Statoil ASA to acquire additional non-core oil and gas properties in Wetzel, Tyler, and Doddridge counties, West Virginia, US.

The deal will involve the transfer of 11,500 acres with an average working interest of 19% for a purchase consideration of $96m in cash.

The asset sale will allow Statoil to improve its financial capabilities to concentrate on core activities and is to be completed by Q3 this year.

Newfield Exploration Company has signed agreements with Protege and an undisclosed party to dispose oil and gas assets in Texas, US. The deal implies a consideration of approximately $390m.

The assets to be sold under the agreements have a net daily production of approximately 12,700 barrels of oil equivalent a day (boed).

BMO Capital Markets and Scotia Waterous (USA) are the financial advisers for Newfield Exploration in the asset sale.

Scheduled for completion in the third quarter of 2016, the divestment will ensure Newfield to improve its cash balance.

Continental Resources has agreed to sell producing and non-producing assets in the SCOOP play in Oklahoma, US, for a cash consideration of $281m.

The assets extend across an area of approximately 29,500 net acres and produce at a rate of approximately 550boed.

The deal is scheduled for completion in October and the amount raised from the sale is intended to be used by Continental Resources to reduce its debt.

GasLog Partners has announced pricing of its $53.63m public offering for the issue of 2.75 million shares. The underwriter, Barclays Capital has been granted a 30-day option to buy up to 412,500 units at a price of $19.5 each.

Cozen O'Conner and Cravath, Swaine & Moore are the legal advisers to GasLog for the issue.

The amount raised from the offering is intended to be used by the company to fund future acquisitions, repayment of liabilities, capital expenditures and working capital.