Predator Oil & Gas Holdings (PRD.L) raised 3 million pounds sterling through a placing of its shares, according to a Friday release.
The UK-listed oil and gas company will issue 85,714,286 ordinary shares at 0.035 pound each, along with six million warrants exercisable at the same price within three years.
The net proceeds will be used to advance drilling activities onshore Trinidad and Morocco, as well as analysis of the Corrib South prospect offshore Ireland.
Exxon Mobil (XOM) was found not liable by a Texas jury in a lawsuit accusing the oil major of misleading investors about its Canadian oil sands and Rocky Mountain gas operations, Reuters reported late Thursday.The report said the 2016 lawsuit claimed Exxon hid losses tied to its Canadian bitumen business, failed to properly account for carbon costs in reserve valuations, and delayed impairment charges related to Rocky Mountain dry gas assets.Jurors in Dallas federal court found that investors who bought Exxon shares between Feb. 24 and Oct. 28, 2016 failed to prove the company misled them through its disclosures, Reuters reported.Exxon Mobil did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
A World Bank delegation will travel to Caracas to meet Venezuelan government officials for the first time since the institution resumed formal relations with the country last month, Bloomberg News reported on Thursday, citing people familiar with the matter.According to the report, the delegation will be led by Susana Cordeiro Guerra, the World Bank's vice president for Latin America and the Caribbean. A spokesperson for the lender confirmed to Bloomberg that representatives would visit Caracas.The visit follows the World Bank's decision in April to resume dealings with Venezuela under acting president Delcy Rodriguez. Bloomberg noted that the last loan the World Bank extended to Venezuela was in 2005.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Par Pacific Holdings (PARR) said Thursday its Par Petroleum subsidiary closed a private placement of $500 million of 7.375% senior unsecured notes due 2034.The company used the net proceeds, along with cash on hand and borrowings under its asset-based revolving credit facility, to repay all outstanding borrowings and terminate Par Petroleum's term loan due 2030.Par Pacific also increased lender commitments under its senior secured asset-based revolving credit facility to up to $1.8 billion and extended the facility's maturity to 2031.