Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

Anadarko closes $3bn Notes offer

  • SOURCE: | Editor
  • 1.8807609New York Stock Exchange-listed Anadarko Petroleum Corporation on Thursday March 17 announced it has closed its registered public offering of $3 billion aggregate principal amount of senior notes comprised of $800 million 4.85-per cent senior notes due 2021, $1.1 billion 5.55-per cent senior notes due 2026 and $1.1 billion 6.60-per cent senior notes due 2046.


    The oil firm, which is one of the partners operating in Ghana’s Jubilee Oil Fields in the Western region, intends to use the net proceeds from the offering, along with cash on hand, to retire its 5.95-per cent senior notes prior to or at maturity in September 2016 and its 6.375-per cent senior notes prior to or at maturity in September 2017.

    “We are very pleased the market confirmed we are a solidly investment-grade issuer with significant capital markets access, enabling us to continue to manage through the low commodity price environment without the need to issue equity to achieve our business objectives,” said Bob Gwin, Anadarko’s Executive Vice President, Finance and CFO, in a statement.

    “The combination of strategic actions we’ve taken to date, including this offering, reducing the dividend, executing upon our asset monetisations, and driving down expenses, have continued to improve the financial strength of the company, with a clear path to reducing net and gross debt going forward,” Mr Gwin added.

    As of year-end 2015, Anadarko had approximately 2.06 billion barrels-equivalent of proved reserves, making it one of the world’s largest independent exploration and production companies.


    Source: http://classfmonline.com/1.8807612

    Share this article

    Leave a reply

    Personality of the Month
    • VACANCY

      A reputable company in the aviation and oil & gas industry is looking for qualified…
    Poll

    Do you think the President should fund the free SHS with oil revenue?

    Follow Us Online
    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Events Calendar
    << Oct 2018 >>
    MTWTFSS
    1 2 3 4 5 6 7
    8 9 10 11 12 13 14
    15 16 17 18 19 20 21
    22 23 24 25 26 27 28
    29 30 31 1 2 3 4
    Twitter Activity Stream
     

    Partners We are proud to be associated with:

    Skip to toolbar