Deals this week: Targa Resources, Swift Energy, Halcon Resources

Targa Resources has announced the pricing and upsizing of a $461.2m public offering of common shares. The issue has been upsized from seven million to eight million shares, while the underwriters have been granted a 30-day option to buy up to 1.2 million shares.

Targa Resources has appointed Barclays Capital and RBC Capital Markets as book-running managers, and Vinson & Elkins as legal advisor for the offering.

The amount raised from the issue is intended to be used by the company to partly fund the previously announced acquisitions, and partly for general corporate purposes.

The public issue is scheduled for completion on or before 26 January.

Swift Energy Company intends to raise approximately $39m through the issue of 1.4 million shares in a private placement.

J.P. Morgan Securities is the placement agent to Swift Energy.

The amount raised from the placement is intended to be used by the company to repay its credit facility and for general corporate purposes.

Halcon Resources Corporation has agreed to dispose all of its oil and natural gas properties and related assets located in the El Halcon area, east Texas, US, to a subsidiary of Hawkwood Energy. The deal involved a sale consideration of $500m.

The assets extend over an area of approximately 80,500 net acres in Texas, with a production rate of approximately 6,000 barrels of oil equivalent a day (boed).

Concurrently, Halcon Resources has also agreed to acquire 20,748 net acres in the Pecos and Reeves counties of southern Delaware Basin, Texas, from Samson Exploration for $705m.

The proceeds from the sale are intended to be used by Halcon Resources to partially fund the acquisition of the Pecos County Assets.

The deal is scheduled for completion by early March.

Hyduke Energy Services intends to raise up to $7.52m through the issue of up to 2.9 million shares in a private placement.

Additionally, the placement agents Lightyear Capital and PI Financial have been granted an option to buy up to an additional 4.4 million shares.

The amount raised from the offering is intended to be used by the company for general corporate purposes and business restructuring.

The private placement is scheduled for completion in February.

Questerre Energy Corporation has filed a prospectus to issue up to three million shares in a public offering. The company intends to raise $1.07m through the issue.

Under the terms, the company will issue 0.0107 non-transferable subscription rights for each common share held by the stakeholders and each right will enable the holder to obtain one new common share.

Questerre Energy has appointed Pareto Securities and Swedbank as underwriters for the offering.

The amount raised from the offering is intended to be used by the company for general corporate purposes.